Short Duration Correlations

Mutual Funds . USA . 
Fund . Short Duration Bond
RSBTX Fund  USD 18.82  0.01  0.05%   
The current 90-days correlation between Short Duration Bond and Tax Managed International Equity is 0.13 (i.e., Average diversification). The correlation of Short Duration 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 Duration Correlation With Market

Significant diversification

The correlation between Short Duration Bond and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Short Duration Bond 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 Duration Bond. 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 estimate.

Moving together with SHORT Mutual Fund

  0.92RNTTX International DevelopedPairCorr
  0.96RSBRX Strategic BondPairCorr
  1.0RSBYX Short Duration BondPairCorr
  1.0RSBCX Short Duration BondPairCorr
  1.0RSDTX Short Duration BondPairCorr
  0.75RBCUX Tax Exempt BondPairCorr
  0.96RSYTX Strategic BondPairCorr
  0.73RTEAX Tax Exempt BondPairCorr
  0.67RTECX Tax Exempt BondPairCorr

Moving against SHORT Mutual Fund

  0.68RSCRX Us Small CapPairCorr
  0.59RSECX Us Strategic EquityPairCorr
  0.58RSEAX Us Strategic EquityPairCorr
  0.58RSESX Us Strategic EquityPairCorr
  0.62RTLCX Tax Managed LargePairCorr
  0.61RTLAX Tax Managed LargePairCorr
  0.6RTMTX Tax Managed LargePairCorr
  0.44RTDCX Multifactor EquityPairCorr
  0.43RTDAX Multifactor EquityPairCorr
  0.43RTDSX Select EquityPairCorr
  0.43RTDTX Select EquityPairCorr
  0.42RTDYX Select EquityPairCorr
  0.42RTDRX Select EquityPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
IAADX
+ 0.94
RTIUX
FBJYGX
+ 0.73
RTIUX
FBJYGX
+ 0.73
IAADX
FZDAQX
+ 0.45
IAADX
FZDAQX
+ 0.43
RPBAX
RPBAX
+ 0.41
RTIUX
  
High negative correlations   
FBJYGX
- 0.51
FUHKBX
FUHKBX
- 0.35
IAADX
FUHKBX
- 0.26
RTIUX

Risk-Adjusted Indicators

There is a big difference between SHORT Mutual Fund performing well and Short Duration 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 Duration'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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