Intermediate Term Correlations

Mutual Funds . USA . 
Fund . Intermediate Term Bond Fund
URIBX Fund  USD 9.17  0.02  0.22%   
The current 90-days correlation between Intermediate Term Bond and Hartford Municipal Income is 0.69 (i.e., Poor diversification). The correlation of Intermediate 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.

Intermediate Term Correlation With Market

Significant diversification

The correlation between Intermediate Term Bond Fund and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Intermediate Term Bond Fund 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 Intermediate Term Bond Fund. 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 Intermediate Mutual Fund

  0.72UIEMX Emerging MarketsPairCorr
  0.83UIHIX High Income FundPairCorr
  0.9UIIFX International FundPairCorr
  0.99UIGSX Government SecuritiesPairCorr
  0.99UIINX Income Fund IncomePairCorr
  1.0UIITX Intermediate Term BondPairCorr
  0.83UIPMX Precious Metals AndPairCorr
  0.97UISBX Short Term BondPairCorr
  0.99URIFX Income Fund IncomePairCorr
  0.99URGSX Government SecuritiesPairCorr
  0.7URHIX High Income FundPairCorr
  0.97URSBX Short Term BondPairCorr
  0.74URUSX Ultra Short TermPairCorr
  0.92UUSIX Ultra Short TermPairCorr
  1.0MWTNX Metropolitan West TotalPairCorr
  1.0MWTSX Metropolitan West TotalPairCorr
  1.0PTTPX Pimco Total ReturnPairCorr
  1.0PTRRX Total ReturnPairCorr
  1.0PTRAX Total ReturnPairCorr
  0.97PTTRX Total ReturnPairCorr
  1.0FIWGX Strategic AdvisersPairCorr
  0.96DODIX Dodge IncomePairCorr
  1.0MWTIX Metropolitan West TotalPairCorr
  1.0MWTRX Metropolitan West TotalPairCorr
  0.86PFN Pimco Income StrategyPairCorr

Moving against Intermediate Mutual Fund

  0.73UISCX Small Cap StockPairCorr
  0.67UIGRX Growth Fund GrowthPairCorr
  0.6URNQX Nasdaq 100 IndexPairCorr
  0.48USPRX Sp 500 IndexPairCorr
  0.36UIGIX Growth IncomePairCorr
  0.36UTMAX Target Managed AllocationPairCorr
  0.35UIWGX World GrowthPairCorr
  0.71UIAGX Aggressive GrowthPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Intermediate Mutual Fund performing well and Intermediate 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 Intermediate 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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