Schwab Short-term Correlations

SWSBX Fund

USD 9.58 0.02 0.21%

The current 90-days correlation between Schwab Short Term and Scharf Global Opportunity is -0.05 (i.e., Good diversification). The correlation of Schwab Short-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.

Schwab Short-term Correlation With Market

Good diversification

The correlation between Schwab Short Term Bond and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Schwab Short Term Bond 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 Schwab Short Term Bond. 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 bureau of labor statistics.

Moving together with Schwab Mutual Fund

0.72	SWCAX	Schwab California Tax	Pair Corr
0.97	SWAGX	Schwab Aggregate Bond	Pair Corr
0.87	SWASX	Schwab Global Real	Pair Corr
0.72	SWHYX	Schwab Opportunistic	Pair Corr
0.73	SWISX	Schwab International	Pair Corr
0.71	SWHFX	Schwab Health Care	Pair Corr
0.86	SWKRX	Schwab Monthly Income	Pair Corr
0.86	SWJRX	Schwab Monthly Income	Pair Corr
0.62	SWMIX	Laudus International	Pair Corr
0.91	SWLRX	Schwab Monthly Income	Pair Corr
0.76	SWNTX	Schwab Tax Free	Pair Corr
0.95	SWRSX	Schwab Treasury Inflation	Pair Corr

Moving against Schwab Mutual Fund

0.68	LGILX	Laudus Large Cap	Pair Corr
0.62	SWANX	Schwab E Equity	Pair Corr
0.56	SWDSX	Schwab Dividend Equity	Pair Corr
0.41	SWEGX	Schwab Markettrack All	Pair Corr
0.33	SWERX	Schwab Target 2040	Pair Corr
0.68	SWLGX	Schwab Large Cap	Pair Corr
0.64	SWMCX	Schwab Mid Cap	Pair Corr
0.64	SWLSX	Schwab Large Cap	Pair Corr
0.61	SWLVX	Schwab Large Cap	Pair Corr
0.41	SWQRX	Schwab Target 2065	Pair Corr
0.4	SWORX	Schwab Target 2055	Pair Corr
0.4	SWNRX	Schwab Target 2050	Pair Corr
0.37	SWMRX	Schwab Target 2045	Pair Corr
0.36	SWOBX	Schwab Balanced	Pair Corr
0.33	SWHGX	Schwab Markettrack Growth	Pair Corr
0.66	SWTSX	Schwab Total Stock	Pair Corr
0.65	SWPPX	Schwab Sp 500	Pair Corr
0.62	SWSSX	Schwab Small Cap	Pair Corr
0.56	SWSCX	Schwab Small Cap	Pair Corr
0.42	SWYNX	Schwab Target 2060	Pair Corr
0.41	SWPRX	Schwab Target 2060	Pair Corr

Related Correlations Analysis

	WRLDX	AGAZX	AEEIX	LFLCX	ANAGX	CABIX	MSTGX
WRLDX		0.65	-0.06	-0.08	-0.31	0.52	0.44	WRLDX
AGAZX	0.65		0.01	-0.03	-0.28	0.59	0.19	AGAZX
AEEIX	-0.06	0.01		0.91	0.87	0.73	0.78	AEEIX
LFLCX	-0.08	-0.03	0.91		0.94	0.66	0.78	LFLCX
ANAGX	-0.31	-0.28	0.87	0.94		0.45	0.65	ANAGX
CABIX	0.52	0.59	0.73	0.66	0.45		0.77	CABIX
MSTGX	0.44	0.19	0.78	0.78	0.65	0.77		MSTGX
	WRLDX	AGAZX	AEEIX	LFLCX	ANAGX	CABIX	MSTGX

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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

ANAGX	+ 0.94	LFLCX
LFLCX	+ 0.91	AEEIX
ANAGX	+ 0.87	AEEIX
MSTGX	+ 0.78	AEEIX
MSTGX	+ 0.78	LFLCX
MSTGX	+ 0.77	CABIX

High negative correlations

ANAGX	- 0.31	WRLDX
ANAGX	- 0.28	AGAZX
LFLCX	- 0.08	WRLDX
AEEIX	- 0.06	WRLDX
LFLCX	- 0.03	AGAZX

Risk-Adjusted Indicators

There is a big difference between Schwab Mutual Fund performing well and Schwab Short-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 Schwab Short-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
WRLDX	0.49	(0.02)	(0.13)	0.09	0.45	(0.55)	0.92	(0.97)	2.75
AGAZX	0.31	(0.05)	(0.34)	(0.01)	0.34	(0.39)	0.64	(0.62)	2.03
AEEIX	0.58	(0.01)	(0.14)	0.07	0.77	(0.59)	1.00	(1.38)	3.39
LFLCX	0.18	(0.01)	(0.54)	(0.35)	0.19	(0.22)	0.32	(0.32)	1.16
ANAGX	0.17	0.00	(0.52)	0.16	0.18	(0.21)	0.29	(0.29)	1.01
CABIX	0.31	(0.02)	(0.24)	0.07	0.35	(0.34)	0.57	(0.72)	1.86
MSTGX	0.23	(0.02)	(0.41)	0.02	0.21	(0.30)	0.53	(0.42)	1.17

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