California Limited-term Correlations

SFCIX Fund

USD 10.11 0.01 0.1%

The current 90-days correlation between California Limited Term and Pace Large Value is 0.19 (i.e., Average 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

Average diversification

The correlation between California Limited Term Tax Fr 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 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 gross domestic product.

Moving together with California Mutual Fund

0.93	DHICX	Wells Fargo Advantage	Pair Corr
0.97	VMPYX	Wells Fargo Advantage	Pair Corr
0.98	VMPAX	Wells Fargo Advantage	Pair Corr
0.86	SADAX	Wells Fargo Ultra	Pair Corr
0.88	SADIX	Wells Fargo Ultra	Pair Corr
0.7	EMGYX	Wells Fargo Emerging	Pair Corr
0.7	EMGNX	Wells Fargo Emerging	Pair Corr
0.7	EMGCX	Wells Fargo Emerging	Pair Corr
0.7	EMGAX	Wells Fargo Emerging	Pair Corr
0.89	SSHIX	Wells Fargo Short	Pair Corr
0.89	WABIX	Wells Fargo Advantage	Pair Corr
0.91	SSTHX	Wells Fargo Short	Pair Corr
0.89	SSTVX	Wells Fargo Short	Pair Corr
0.97	WSBIX	Short Term Municipal	Pair Corr
0.88	WARAX	Wells Fargo Advantage	Pair Corr
0.9	WARDX	Wells Fargo Advantage	Pair Corr
0.88	WARCX	Wells Fargo Advantage	Pair Corr
0.85	WSGIX	Wells Fargo Short	Pair Corr
0.94	WSIAX	Wells Fargo Strategic	Pair Corr
0.93	WSIDX	Wells Fargo Strategic	Pair Corr
0.94	WSICX	Wells Fargo Strategic	Pair Corr
0.94	WSINX	Wells Fargo Strategic	Pair Corr
0.97	WSMAX	Short Term Municipal	Pair Corr
0.98	WSSCX	Short Term Municipal	Pair Corr
0.98	WSTMX	Short Term Municipal	Pair Corr
0.98	STRIX	Wells Fargo Advantage	Pair Corr
0.92	STYAX	Wells Fargo Income	Pair Corr
0.91	STYIX	Wells Fargo Short	Pair Corr
0.77	SCTAX	California Tax Free	Pair Corr
0.69	SCTCX	California Tax Free	Pair Corr

Moving against California Mutual Fund

0.61	WSCGX	Small Pany Growth	Pair Corr
0.56	WSCOX	Wells Fargo Advantage	Pair Corr
0.62	WSMCX	Small Pany Growth	Pair Corr
0.61	STSAX	Wells Fargo Mon	Pair Corr
0.49	STOFX	Wells Fargo Large	Pair Corr
0.48	STAFX	Wells Fargo Large	Pair Corr
0.48	STDFX	Wells Fargo Large	Pair Corr
0.43	STNFX	Wells Fargo Large	Pair Corr
0.61	SCNSX	Wells Fargo Mon	Pair Corr
0.61	SCSDX	Wells Fargo Mon	Pair Corr
0.61	SCSAX	Wells Fargo Mon	Pair Corr
0.51	SCVFX	Small Pany Value	Pair Corr
0.5	SCVAX	Small Pany Value	Pair Corr
0.5	SCVIX	Small Pany Value	Pair Corr

Related Correlations Analysis

	PCLVX	PAFDX	PAVLX	ANVIX	TALCX	FMIQX	JDVNX	DOXGX
PCLVX		0.98	0.97	0.54	0.69	0.38	0.39	0.88	PCLVX
PAFDX	0.98		0.99	0.69	0.8	0.46	0.51	0.91	PAFDX
PAVLX	0.97	0.99		0.68	0.8	0.46	0.52	0.92	PAVLX
ANVIX	0.54	0.69	0.68		0.96	0.63	0.82	0.66	ANVIX
TALCX	0.69	0.8	0.8	0.96		0.67	0.83	0.76	TALCX
FMIQX	0.38	0.46	0.46	0.63	0.67		0.9	0.45	FMIQX
JDVNX	0.39	0.51	0.52	0.82	0.83	0.9		0.5	JDVNX
DOXGX	0.88	0.91	0.92	0.66	0.76	0.45	0.5		DOXGX
	PCLVX	PAFDX	PAVLX	ANVIX	TALCX	FMIQX	JDVNX	DOXGX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PCLVX	0.58	0.11	0.16	0.11	0.55	(0.67)	1.24	(1.16)	3.17
PAFDX	0.59	0.09	0.14	0.10	0.58	(0.65)	1.23	(1.10)	3.38
PAVLX	0.59	0.11	0.17	0.13	0.54	(0.70)	1.30	(1.02)	3.20
ANVIX	0.64	0.02	0.03	0.00	0.79	(0.68)	1.22	(1.18)	3.29
TALCX	0.62	0.03	0.04	0.01	0.77	(0.68)	1.36	(1.36)	3.68
FMIQX	0.81	(0.12)	0.00	(0.18)	0.00	0.00	1.20	(1.26)	10.22
JDVNX	0.81	(0.13)	0.00	(0.18)	0.00	0.00	1.24	(1.63)	10.15
DOXGX	0.61	0.05	0.09	(0.85)	0.78	(0.61)	1.30	(1.41)	3.35

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