Core Plus Correlations

Mutual Funds . USA . 
Fund . Core Plus Income
WCPBX Fund  USD 9.73  0.03  0.31%   
The current 90-days correlation between Core Plus Income and John Hancock Variable is 0.86 (i.e., Very poor diversification). The correlation of Core Plus 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.

Core Plus Correlation With Market

Average diversification

The correlation between Core Plus Income 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 Core Plus Income and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Core Plus Income. 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 Core Mutual Fund

  1.0WCPNX Core Plus IncomePairCorr
  0.95WNTFX Nebraska Tax FreePairCorr
  0.92MWTNX Metropolitan West TotalPairCorr
  0.93MWTSX Metropolitan West TotalPairCorr
  0.99PTTPX Pimco Total ReturnPairCorr
  1.0PTRRX Total ReturnPairCorr
  1.0PTRAX Total ReturnPairCorr
  0.94PTTRX Total ReturnPairCorr
  0.99FIWGX Strategic AdvisersPairCorr
  0.97DODIX Dodge IncomePairCorr
  0.99MWTIX Metropolitan West TotalPairCorr
  0.99MWTRX Metropolitan West TotalPairCorr
  0.78VTISX Vanguard Total InterPairCorr
  0.78VTSNX Vanguard Total InterPairCorr
  0.79VTPSX Vanguard Total InterPairCorr
  0.72TWIEX International GrowthPairCorr
  0.63JHYIX Aberdeen Global HighPairCorr
  0.85TIILX Tiaa Cref InflationPairCorr
  0.93SNGYX Sit Government SecuritiesPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Core Mutual Fund performing well and Core Plus 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 Core Plus' 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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