Short-term Income Correlations

PSTPX Fund

USD 10.05 0.12 1.18%

The current 90-days correlation between Short Term Income and Tiaa Cref Lifestyle Moderate is -0.01 (i.e., Good diversification). The correlation of Short-term Income 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.

Short-term Income Correlation With Market

Significant diversification

The correlation between Short Term Income Fund and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Short Term Income Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Short Term Income Fund. 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 american community survey.

Moving together with Short-term Mutual Fund

0.65	PSCIX	Palmer Square Ssi	Pair Corr
0.75	PSDSX	Palmer Square Ultra	Pair Corr
0.72	PSYPX	Palmer Square Income	Pair Corr
0.66	PTSPX	Pimco Short Term	Pair Corr
0.67	PTSHX	Short Term Fund	Pair Corr
0.68	PSFAX	Short Term Fund	Pair Corr
0.68	PTSRX	Short Term Fund	Pair Corr
0.7	PSDNX	Putnam Ultra Short	Pair Corr
0.69	LUSNX	Lord Abbett Ultra	Pair Corr
0.74	VUBFX	Vanguard Ultra-short-term	Pair Corr
0.69	PSDRX	Putnam Short Duration	Pair Corr
0.69	PSDYX	Putnam Short Duration	Pair Corr
0.67	PBDPX	Pimco Investment Grade	Pair Corr
0.68	PRGMX	T Rowe Price	Pair Corr
0.73	RGRPX	American Funds Retirement	Pair Corr
0.66	FXNAX	Fidelity Bond Index	Pair Corr
0.75	VIITX	Vanguard Institutional	Pair Corr
0.68	QGMNX	Aqr Global Macro	Pair Corr
0.76	ETSIX	Eaton Vance Short	Pair Corr
0.69	VGPMX	Vanguard Global Capital	Pair Corr
0.77	MBOYX	Madison E Bond	Pair Corr
0.68	PACEX	T Rowe Price	Pair Corr
0.67	GIBLX	Guggenheim Total Return	Pair Corr
0.67	DBLGX	Doubleline Global Bond	Pair Corr

Moving against Short-term Mutual Fund

0.39

SPGSX

State Street Premier

Pair Corr

Related Correlations Analysis

	TSMPX	FHRVX	JULMX	MXBPX	TCTZX	FLMTX
TSMPX		0.76	0.84	0.96	0.93	0.81	TSMPX
FHRVX	0.76		0.83	0.86	0.94	0.86	FHRVX
JULMX	0.84	0.83		0.89	0.9	0.99	JULMX
MXBPX	0.96	0.86	0.89		0.97	0.87	MXBPX
TCTZX	0.93	0.94	0.9	0.97		0.9	TCTZX
FLMTX	0.81	0.86	0.99	0.87	0.9		FLMTX
	TSMPX	FHRVX	JULMX	MXBPX	TCTZX	FLMTX

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Risk-Adjusted Indicators

There is a big difference between Short-term Mutual Fund performing well and Short-term Income 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 Short-term Income'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TSMPX	0.48	(0.05)	0.00	0.33	0.00	0.00	0.87	(0.92)	2.82
FHRVX	0.30	(0.01)	0.15	0.08	0.40	(0.30)	0.56	(0.61)	1.71
JULMX	0.31	0.01	0.00	(0.05)	0.00	0.00	0.65	(0.65)	1.89
MXBPX	0.48	(0.03)	0.00	0.20	0.00	0.00	1.01	(1.00)	3.11
TCTZX	0.33	(0.03)	0.00	0.20	0.00	0.00	0.72	(0.74)	1.95
FLMTX	0.31	0.01	0.00	(0.03)	0.00	0.00	0.57	(0.66)	1.72

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