Bond Fund Correlations

Mutual Funds . USA . 
Fund . Bond Fund Institutional
AIBNX Fund  USD 8.59  0.04  0.46%   
The current 90-days correlation between Bond Fund Institutional and Bond Fund Investor is 0.02 (i.e., Significant diversification). The correlation of Bond Fund 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.

Bond Fund Correlation With Market

Modest diversification

The correlation between Bond Fund Institutional and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bond Fund Institutional and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bond Fund Institutional. 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 state.

Moving together with Bond Mutual Fund

  0.93APBDX Bond Fund InvestorPairCorr
  0.99APENX Strategic Enhanced YieldPairCorr
  0.74APLIX Cavanal Hill HedgedPairCorr
  0.77APSTX Limited DurationPairCorr
  0.77APUSX Cavanal Hill UltraPairCorr
  0.61APWEX World EnergyPairCorr
  1.0AABOX Bond Fund ClassPairCorr
  0.92AAENX Strategic Enhanced YieldPairCorr
  0.75AALIX Astonherndon Large CapPairCorr
  0.88AASTX Limited DurationPairCorr
  0.73AAUSX Cavanal Hill UltraPairCorr
  0.99AIENX Strategic Enhanced YieldPairCorr
  0.7AILIX Cavanal Hill HedgedPairCorr
  0.87AISTX Limited DurationPairCorr
  0.73AIUSX Cavanal Hillultra ShortPairCorr
  0.61AIWEX World EnergyPairCorr
  0.99VBTLX Vanguard Total BondPairCorr
  0.91VBMFX Vanguard Total BondPairCorr
  0.92VBTIX Vanguard Total BondPairCorr
  0.91VTBSX Vanguard Total BondPairCorr
  0.91VTBIX Vanguard Total BondPairCorr
  0.91VTBNX Vanguard Total BondPairCorr
  0.99FBOFX American FundsPairCorr
  0.92FFBOX American FundsPairCorr
  0.92BFAFX Bond FundPairCorr
  0.92ABNDX Bond FundPairCorr
  0.71HLDRX Hartford EmergingPairCorr
  0.62HLDAX Hartford EmergingPairCorr
  0.66HLDCX Hartford EmergingPairCorr
  0.63NSRSX Neuberger Berman SmallPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Bond Mutual Fund performing well and Bond Fund 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 Bond Fund'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
APBDX  0.18  0.02 (0.17)(1.43) 0.06 
(0.24)
 0.35 
(0.35)
 0.94 
APENX  0.17  0.02 (0.15) 0.23  0.00 
(0.22)
 0.34 
(0.33)
 0.89 
APLIX  0.42  0.02  0.01  0.08  0.53 
(0.47)
 1.06 
(0.89)
 2.75 
APSTX  0.09  0.01 (0.42)(3.13) 0.00 
(0.15)
 0.21 
(0.11)
 0.64 
APUSX  0.03  0.00  0.00 (0.19) 0.00 
 0.00 
 0.10 
 0.00 
 0.40 
APWEX  0.82  0.05  0.03  0.12  1.07 
(0.84)
 1.57 
(1.63)
 5.58 
AABOX  0.19  0.01 (0.16) 0.21  0.09 
(0.23)
 0.35 
(0.35)
 0.94 
AAENX  0.16  0.03 (0.13)(2.27) 0.00 
(0.22)
 0.34 
(0.23)
 0.79 
AALIX  0.42  0.02  0.01  0.08  0.52 
(0.46)
 1.06 
(0.89)
 2.68 
AASTX  0.10  0.01 (0.33) 0.28  0.00 
(0.16)
 0.22 
(0.11)
 0.54 

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