Shenkman Floating Correlations

Mutual Funds . USA . 
Fund . Shenkman Floating Rate
SFHFX Fund  USD 9.11  0.01  0.11%   
The current 90-days correlation between Shenkman Floating Rate and Fidelity Advisor Financial is 0.17 (i.e., Average diversification). The correlation of Shenkman Floating 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 Floating Correlation With Market

Average diversification

The correlation between Shenkman Floating Rate and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shenkman Floating Rate 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 Floating Rate. 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 Shenkman Mutual Fund

  0.9SCFAX Shenkman Short DurationPairCorr
  0.92SCFCX Shenkman Short DurationPairCorr
  0.9SCFIX Shenkman Short DurationPairCorr
  0.9SCFFX Shenkman Short DurationPairCorr
  1.0SFHIX Shenkman Floating RatePairCorr
  0.8OOSYX Oppenheimer SeniorPairCorr
  0.82OOSIX Oppenheimer SeniorPairCorr
  0.88LFRIX Floating RatePairCorr
  0.85LARCX Floating RatePairCorr
  0.86LFRRX Lord Abbett InvPairCorr
  0.87LFRFX Floating RatePairCorr
  0.87LRRRX Floating RatePairCorr
  0.87LRRTX Floating RatePairCorr
  0.86LRRVX Floating RatePairCorr
  0.85LRRKX Floating RatePairCorr
  0.65UGPSX Ultrachina ProfundPairCorr
  0.65UGPIX Ultrachina ProfundPairCorr
  0.72PMPIX Precious Metals UltrPairCorr
  0.72PMPSX Precious Metals UltrPairCorr
  0.64FPFIX Fpa Flexible FixedPairCorr
  0.64LIRRX Lord Abbett InternationalPairCorr
  0.83XPTFX Federated Project AndPairCorr
  0.63WHYIX Wells Fargo AdvantagePairCorr
  0.9MPHLX Massmutual Premier HighPairCorr
  0.64LIDCX Lord Abbett InternationalPairCorr
  0.71ABDAX Columbia Capital AllPairCorr
  0.89AWF AlliancebernsteinPairCorr
  0.77HYMQX Lord Abbett ShortPairCorr
  0.88AGD Aberdeen Global DynamicPairCorr
  0.62FPNRX Fpa New IncomePairCorr
  0.74MXHPX Great West ModeratelyPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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