California Limited-term Correlations

Mutual Funds . USA . 
Fund . California Limited Term Tax Free
SFCCX Fund  USD 10.10  0.02  0.20%   
The current 90-days correlation between California Limited Term and Us Government Securities is 0.2 (i.e., Modest diversification). The correlation of California Limited-term 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.

California Limited-term Correlation With Market

Significant diversification

The correlation between California Limited Term Tax Fr and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding California Limited Term Tax Fr 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 California Limited Term Tax Free. 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 California Mutual Fund

  0.86DHICX Wells Fargo AdvantagePairCorr
  0.93VMPYX Wells Fargo AdvantagePairCorr
  0.95VMPAX Wells Fargo AdvantagePairCorr
  0.69SADAX Wells Fargo UltraPairCorr
  0.72SADIX Wells Fargo UltraPairCorr
  0.64EMGYX Wells Fargo EmergingPairCorr
  0.64EMGNX Wells Fargo EmergingPairCorr
  0.64EMGAX Wells Fargo EmergingPairCorr
  0.78SSHIX Wells Fargo ShortPairCorr
  0.87WABIX Wells Fargo AdvantagePairCorr
  0.8SSTHX Wells Fargo ShortPairCorr
  0.75SSTVX Wells Fargo ShortPairCorr
  0.87WSBIX Short Term MunicipalPairCorr
  0.87WARAX Wells Fargo AdvantagePairCorr
  0.86WARDX Wells Fargo AdvantagePairCorr
  0.87WARCX Wells Fargo AdvantagePairCorr
  0.67WSGIX Wells Fargo ShortPairCorr
  0.88WSIAX Wells Fargo StrategicPairCorr
  0.88WSIDX Wells Fargo StrategicPairCorr
  0.9WSICX Wells Fargo StrategicPairCorr
  0.88WSINX Wells Fargo StrategicPairCorr
  0.86WSMAX Short Term MunicipalPairCorr
  0.96WSSCX Short Term MunicipalPairCorr
  0.94WSTMX Short Term MunicipalPairCorr
  0.99STRIX Wells Fargo AdvantagePairCorr
  0.86STYAX Wells Fargo IncomePairCorr
  0.88STYIX Wells Fargo ShortPairCorr
  0.77SCTAX California Tax FreePairCorr
  0.76SCTCX California Tax FreePairCorr

Moving against California Mutual Fund

  0.47WSCGX Small Pany GrowthPairCorr
  0.46WSCOX Wells Fargo AdvantagePairCorr
  0.52WSMCX Small Pany GrowthPairCorr
  0.49STSAX Wells Fargo MonPairCorr
  0.33STAFX Wells Fargo LargePairCorr
  0.33STDFX Wells Fargo LargePairCorr
  0.33STOFX Wells Fargo LargePairCorr
  0.45SCNSX Wells Fargo MonPairCorr
  0.45SCSDX Wells Fargo MonPairCorr
  0.45SCSAX Wells Fargo MonPairCorr
  0.4SCVFX Small Pany ValuePairCorr
  0.39SCVAX Small Pany ValuePairCorr
  0.39SCVNX Small Pany ValuePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between California Mutual Fund performing well and California Limited-term 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 California Limited-term'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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