Ultra Short Correlations

Mutual Funds . USA . 
Fund . Ultra Short Income
MUIIX Fund  USD 9.99  0.00  0.00%   
The current 90-days correlation between Ultra Short Income and Great West Loomis Sayles is -0.02 (i.e., Good diversification). The correlation of Ultra Short is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Ultra Short Correlation With Market

Significant diversification

The correlation between Ultra Short Income and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ultra Short Income and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Ultra Short Income. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Ultra Mutual Fund

  0.83MMCGX Mid Cap GrowthPairCorr
  0.9MPAIX Advantage Portfolio ClassPairCorr
  0.83MPEGX Mid Cap GrowthPairCorr
  0.9MADSX Msif Advantage PortPairCorr
  0.89MACGX Mid Cap GrowthPairCorr

Moving against Ultra Mutual Fund

  0.82TEMUX Emerging Markets EquityPairCorr
  0.74MMKBX Emerging Markets PorPairCorr
  0.69TIFUX International FixedPairCorr
  0.68TIEUX International EquityPairCorr
  0.67MMMPX Msif Emerging MarketsPairCorr
  0.47TIIUX Core Fixed IncomePairCorr
  0.36TILUX Inflation Linked FixedPairCorr
  0.34MPBAX Global StrategistPairCorr
  0.31MPFDX Corporate Bond PortfolioPairCorr
  0.78MSBEX Morgan Stanley InstiPairCorr
  0.78MSBKX Morgan Stanley InstiPairCorr
  0.72MRJCX Real Assets PortfolioPairCorr
  0.72MRJAX Real Assets PortfolioPairCorr
  0.72MRJIX Real Assets PortfolioPairCorr
  0.72MRJSX Real Assets PortfolioPairCorr
  0.72MAIJX Morgan Stanley InstiPairCorr
  0.72MSACX Active InternationalPairCorr
  0.68MAIHX Morgan Stanley InstiPairCorr
  0.67MRGEX Msif Emerging MarketsPairCorr
  0.6MAAQX Morgan Stanley InstiPairCorr
  0.6MAAUX Morgan Stanley InstiPairCorr
  0.6MAADX Morgan Stanley InstiPairCorr
  0.6MAAOX Morgan Stanley InstiPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Ultra Mutual Fund performing well and Ultra Short Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Ultra Short's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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