Shenkman Short Correlations

SCFCX Fund

USD 9.82 0.01 0.10%

The correlation of Shenkman 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.

Shenkman Short Correlation With Market

Average diversification

The correlation between Shenkman Short Duration and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shenkman Short Duration 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 Shenkman Short Duration. 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 main economic indicators.

Moving together with Shenkman Mutual Fund

0.72	SCFIX	Shenkman Short Duration	Pair Corr
0.77	SCFFX	Shenkman Short Duration	Pair Corr
0.76	SFHFX	Shenkman Floating Rate	Pair Corr
0.76	SFHIX	Shenkman Floating Rate	Pair Corr
0.76	VWEAX	Vanguard High Yield	Pair Corr
0.74	VWEHX	Vanguard High Yield	Pair Corr
0.74	BHYCX	Blackrock Hi Yld	Pair Corr
0.73	BHYIX	Blackrock High Yield	Pair Corr
0.72	BHYSX	Blackrock Hi Yld	Pair Corr
0.73	BHYAX	Blackrock High Yield	Pair Corr
0.73	FAHHX	American Funds American	Pair Corr
0.72	FTAHX	American Funds American	Pair Corr
0.72	AHTFX	American High Income	Pair Corr
0.72	AHTCX	American High Income	Pair Corr
0.67	BRUFX	Bruce Fund Bruce	Pair Corr
0.64	KF	Korea Closed	Pair Corr
0.67	ARBOX	Absolute Convertible	Pair Corr
0.7	USGDX	Morgan Stanley Government	Pair Corr
0.7	MEERX	Massmutual Premier	Pair Corr
0.65	BISMX	Brandes International	Pair Corr
0.72	EMBAX	Unconstrained Emerging	Pair Corr
0.71	ABNOX	Ab Bond Inflation	Pair Corr
0.74	VICSX	Vanguard Intermediate-ter	Pair Corr
0.72	GIOIX	Guggenheim Macro Opp	Pair Corr
0.83	RMDUX	American Funds Multi	Pair Corr
0.66	SGDLX	Sprott Gold Equity	Pair Corr
0.68	RXRPX	American Funds Retirement	Pair Corr
0.62	PSDNX	Putnam Ultra Short	Pair Corr
0.61	TIMUX	Transamerica Intermediate	Pair Corr

Related Correlations Analysis

	HEWXX	XFINX	SPAXX	FIDAX	IAAEX	FAFSX	MODXX
HEWXX		0.0	0.0	0.0	0.0	0.0	0.0	HEWXX
XFINX	0.0		0.28	0.57	0.11	0.63	0.0	XFINX
SPAXX	0.0	0.28		-0.12	-0.07	-0.02	0.0	SPAXX
FIDAX	0.0	0.57	-0.12		0.67	0.94	0.0	FIDAX
IAAEX	0.0	0.11	-0.07	0.67		0.48	0.0	IAAEX
FAFSX	0.0	0.63	-0.02	0.94	0.48		0.0	FAFSX
MODXX	0.0	0.0	0.0	0.0	0.0	0.0		MODXX
	HEWXX	XFINX	SPAXX	FIDAX	IAAEX	FAFSX	MODXX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

FAFSX	+ 0.94	FIDAX
IAAEX	+ 0.67	FIDAX
FAFSX	+ 0.63	XFINX
FIDAX	+ 0.57	XFINX
FAFSX	+ 0.48	IAAEX
SPAXX	+ 0.28	XFINX

High negative correlations

FIDAX	- 0.12	SPAXX
IAAEX	- 0.07	SPAXX
FAFSX	- 0.02	SPAXX
MODXX	- 0.0	FAFSX
MODXX	- 0.0	IAAEX
MODXX	- 0.0	FIDAX

Risk-Adjusted Indicators

There is a big difference between Shenkman Mutual Fund performing well and Shenkman 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 Shenkman 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.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
HEWXX	0.00	0.00	0.00	0.00	0.00	0.00
XFINX	0.14	(0.02)	0.36	0.28	(0.64)	1.27
SPAXX	0.03	0.00	(0.38)	0.00	0.00	1.01
FIDAX	1.01	(0.12)	(0.15)	2.02	(3.26)	7.13
IAAEX	0.81	(0.11)	(0.26)	1.41	(1.48)	9.17
FAFSX	0.91	(0.04)	(0.07)	1.71	(2.71)	6.26
MODXX	0.00	0.00	0.00	0.00	0.00	0.00

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC