Short Duration Correlations

WEFIX Fund

USD 12.01 0.02 0.17%

The current 90-days correlation between Short Duration Income and Multisector Bond Sma is 0.1 (i.e., Average diversification). The correlation of Short Duration 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.

Short Duration Correlation With Market

Good diversification

The correlation between Short Duration Income and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Short Duration 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 Short Duration 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 gross domestic product.

Moving together with Short Mutual Fund

1.0	WSHNX	Short Duration Income	Pair Corr
0.95	WCPBX	Core Plus Income	Pair Corr
0.95	WCPNX	Core Plus Income	Pair Corr
0.73	WNTFX	Nebraska Tax Free	Pair Corr
0.75	VBIRX	Vanguard Short Term	Pair Corr
0.68	VFSUX	Vanguard Short Term	Pair Corr
0.74	VFSIX	Vanguard Short Term	Pair Corr
0.74	VFSTX	Vanguard Short Term	Pair Corr
0.99	VBISX	Vanguard Short Term	Pair Corr
0.98	LALDX	Lord Abbett Short	Pair Corr
0.7	VSCSX	Vanguard Short Term	Pair Corr
0.98	LDLAX	Lord Abbett Short	Pair Corr
0.98	PEGPX	Pimco Esg Income	Pair Corr
0.91	FBAHX	Fidelity Advisor Tactical	Pair Corr
0.8	MNOZX	Manning Napier Overseas	Pair Corr
0.72	PDI	Pimco Dynamic Income Sell-off Trend	Pair Corr
0.9	GSCJX	Goldman Sachs Income	Pair Corr
0.79	MWSIX	Metropolitan West	Pair Corr
0.93	LSIZX	Columbia Strategic Income	Pair Corr
0.76	MERVX	Merger Fund	Pair Corr

Moving against Short Mutual Fund

0.36	WVALX	Value Fund Value	Pair Corr
0.59	SMPIX	Semiconductor Ultrasector	Pair Corr
0.59	SMPSX	Semiconductor Ultrasector	Pair Corr
0.37	CISGX	Touchstone Sands Capital	Pair Corr

Related Correlations Analysis

	MBSAX	GANPX	LTXFX	UIITX	CBOEX	FMUUX	CSBCX
MBSAX		0.92	0.86	0.98	0.95	0.9	0.92	MBSAX
GANPX	0.92		0.9	0.94	0.91	0.98	0.88	GANPX
LTXFX	0.86	0.9		0.85	0.79	0.85	0.93	LTXFX
UIITX	0.98	0.94	0.85		0.98	0.93	0.92	UIITX
CBOEX	0.95	0.91	0.79	0.98		0.93	0.89	CBOEX
FMUUX	0.9	0.98	0.85	0.93	0.93		0.87	FMUUX
CSBCX	0.92	0.88	0.93	0.92	0.89	0.87		CSBCX
	MBSAX	GANPX	LTXFX	UIITX	CBOEX	FMUUX	CSBCX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Short Mutual Fund performing well and Short Duration 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 Short Duration'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
MBSAX	0.17	0.03	0.27	0.32	0.05	(0.21)	0.30	(0.22)	1.34
GANPX	0.06	0.01	0.38	0.61	0.00	(0.12)	0.10	(0.10)	0.48
LTXFX	0.10	0.01	0.28	0.64	0.00	(0.14)	0.26	(0.20)	0.65
UIITX	0.22	0.04	0.29	0.82	0.03	(0.29)	0.55	(0.33)	1.45
CBOEX	0.16	0.03	0.34	1.08	0.00	(0.21)	0.33	(0.24)	0.98
FMUUX	0.03	0.01	0.00	2.54	0.00	0.00	0.10	0.00	0.40
CSBCX	0.22	0.03	0.25	0.63	0.13	(0.26)	0.49	(0.41)	1.42

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