Short-term Bond Correlations

SBFFX Fund

USD 9.53 0.01 0.10%

The current 90-days correlation between Short Term Bond and Ultranasdaq 100 Profund Ultranasdaq 100 is 0.02 (i.e., Significant diversification). The correlation of Short-term Bond 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 Bond Correlation With Market

Modest diversification

The correlation between Short Term Bond Fund and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Short Term Bond Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Short Term Bond 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 census.

Moving together with Short-term Mutual Fund

0.73

FPPPX

American Funds Prese

Pair Corr

Moving against Short-term Mutual Fund

0.53	AMFCX	American Mutual	Pair Corr
0.52	AMFFX	American Mutual	Pair Corr
0.52	AMRMX	American Mutual	Pair Corr
0.52	AMRFX	American Mutual	Pair Corr
0.49	RNEBX	New World Fund	Pair Corr
0.45	CDWEX	American Funds Developing	Pair Corr
0.42	ANFCX	New Economy Fund	Pair Corr
0.41	CWGFX	Capital World Growth	Pair Corr
0.4	BALCX	American Balanced	Pair Corr
0.39	RNNEX	New Economy Fund	Pair Corr
0.39	BALFX	American Balanced	Pair Corr
0.37	RNGFX	New Economy Fund	Pair Corr
0.35	RNCCX	American Funds Income	Pair Corr
0.33	FPTPX	American Funds Conse	Pair Corr
0.58	FAX	Aberdeen Asia Pacific	Pair Corr
0.44	WBFFX	Capital World Bond	Pair Corr
0.43	CEUEX	Europacific Growth	Pair Corr
0.42	FAKTX	American Funds 2015	Pair Corr
0.4	WSHFX	Washington Mutual	Pair Corr
0.4	FAOTX	American Funds 2020	Pair Corr
0.4	FAPTX	American Funds 2025	Pair Corr
0.39	RRCTX	American Funds 2020	Pair Corr
0.38	FBAFX	American Funds American	Pair Corr
0.38	FBONX	American Funds American	Pair Corr

Related Correlations Analysis

	UOPSX	RYMBX	LEQCX	TIMXX	OPTCX	TRBCX	TRSAX
UOPSX		0.07	0.76	0.0	0.82	0.97	0.36	UOPSX
RYMBX	0.07		0.06	0.0	0.35	0.14	-0.56	RYMBX
LEQCX	0.76	0.06		0.0	0.89	0.83	0.5	LEQCX
TIMXX	0.0	0.0	0.0		0.0	0.0	0.0	TIMXX
OPTCX	0.82	0.35	0.89	0.0		0.9	0.23	OPTCX
TRBCX	0.97	0.14	0.83	0.0	0.9		0.37	TRBCX
TRSAX	0.36	-0.56	0.5	0.0	0.23	0.37		TRSAX
	UOPSX	RYMBX	LEQCX	TIMXX	OPTCX	TRBCX	TRSAX

Click cells to compare fundamentals

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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

TRBCX	+ 0.97	UOPSX
TRBCX	+ 0.9	OPTCX
OPTCX	+ 0.89	LEQCX
TRBCX	+ 0.83	LEQCX
OPTCX	+ 0.82	UOPSX
LEQCX	+ 0.76	UOPSX

High negative correlations

TRSAX	- 0.56	RYMBX
TRSAX	- 0.0	TIMXX
TRBCX	- 0.0	TIMXX
OPTCX	- 0.0	TIMXX
TIMXX	- 0.0	LEQCX
TIMXX	- 0.0	RYMBX

Risk-Adjusted Indicators

There is a big difference between Short-term Mutual Fund performing well and Short-term Bond 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 Bond'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
UOPSX	1.72	0.11	0.04	0.20	2.31	(1.75)	3.31	(3.61)	12.66
RYMBX	0.72	0.08	0.07	3.21	0.76	(0.88)	1.82	(1.46)	3.89
LEQCX	0.41	0.05	0.06	0.33	0.43	(0.44)	0.87	(0.71)	2.97
TIMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OPTCX	0.14	0.02	0.01	0.47	0.00	(0.20)	0.31	(0.31)	1.35
TRBCX	0.82	0.07	0.05	0.27	1.07	(0.83)	1.57	(1.89)	5.70
TRSAX	0.90	(0.04)	0.00	(0.11)	0.00	0.00	1.54	(2.26)	8.77

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