Bond Fund Correlations

APBDX Fund

USD 8.62 0.02 0.23%

The current 90-days correlation between Bond Fund Investor and Redwood Real Estate is -0.03 (i.e., Good 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

Good diversification

The correlation between Bond Fund Investor and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bond Fund Investor 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 Investor. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Bond Mutual Fund

0.99	VBTLX	Vanguard Total Bond	Pair Corr
0.99	VBMFX	Vanguard Total Bond	Pair Corr
0.99	VBTIX	Vanguard Total Bond	Pair Corr
0.99	VTBSX	Vanguard Total Bond	Pair Corr
0.99	VTBIX	Vanguard Total Bond	Pair Corr
0.99	VTBNX	Vanguard Total Bond	Pair Corr
0.99	FBOFX	American Funds	Pair Corr
0.99	FFBOX	American Funds	Pair Corr
0.99	BFAFX	Bond Fund	Pair Corr
0.99	ABNDX	Bond Fund	Pair Corr
0.92	XDSMX	Dreyfus Strategic	Pair Corr
0.92	XNXJX	Nuveen New Jersey	Pair Corr
0.85	NXJ	Nuveen New Jersey	Pair Corr
0.88	XNBHX	Neuberger Berman Int	Pair Corr
0.91	FPXIX	Fidelity Advisor 529	Pair Corr
0.83	GPICX	Guidepath Conservative	Pair Corr
0.64	INTC	Intel Aggressive Push	Pair Corr
0.76	WMT	Walmart	Pair Corr
0.67	CAT	Caterpillar	Pair Corr
0.71	GE	GE Aerospace	Pair Corr
0.72	AA	Alcoa Corp	Pair Corr

Moving against Bond Mutual Fund

0.54	PCF	Putnam High Income	Pair Corr
0.32	CIF	Mfs Intermediate High	Pair Corr
0.72	VZ	Verizon Communications	Pair Corr
0.64	T	ATT Inc	Pair Corr
0.5	PG	Procter Gamble	Pair Corr
0.44	HD	Home Depot	Pair Corr

Related Correlations Analysis

	CREMX	PNDIX	MXREX	TIREX	JYEBX	FORFX	NMMRF	FREAX
CREMX		1.0	0.25	0.32	0.5	0.99	0.01	0.37	CREMX
PNDIX	1.0		0.25	0.32	0.49	0.99	0.02	0.38	PNDIX
MXREX	0.25	0.25		0.95	0.91	0.26	0.07	0.97	MXREX
TIREX	0.32	0.32	0.95		0.85	0.33	0.1	0.98	TIREX
JYEBX	0.5	0.49	0.91	0.85		0.52	-0.01	0.9	JYEBX
FORFX	0.99	0.99	0.26	0.33	0.52		0.01	0.39	FORFX
NMMRF	0.01	0.02	0.07	0.1	-0.01	0.01		0.11	NMMRF
FREAX	0.37	0.38	0.97	0.98	0.9	0.39	0.11		FREAX
	CREMX	PNDIX	MXREX	TIREX	JYEBX	FORFX	NMMRF	FREAX

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

PNDIX	+ 1.0	CREMX
FORFX	+ 0.99	CREMX
FORFX	+ 0.99	PNDIX
FREAX	+ 0.98	TIREX
FREAX	+ 0.97	MXREX
TIREX	+ 0.95	MXREX

High negative correlations

NMMRF

- 0.01

JYEBX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CREMX	0.02	0.02	0.00	3.08	0.00	0.00	0.08	0.00	0.08
PNDIX	0.04	0.02	0.00	(4.25)	0.00	0.00	0.10	0.00	0.10
MXREX	0.63	0.02	0.01	0.06	0.74	(0.74)	1.46	(1.39)	3.86
TIREX	0.58	0.01	(0.01)	0.03	0.77	(0.57)	1.12	(1.32)	3.98
JYEBX	0.61	0.03	0.02	0.08	0.72	(0.68)	1.47	(1.50)	3.48
FORFX	0.05	0.00	0.00	0.00	0.00	0.00	0.10	0.00	0.21
NMMRF	0.07	0.02	0.00	2.39	0.00	0.00	0.00	0.00	2.32
FREAX	0.61	0.01	0.00	0.04	0.76	(0.68)	1.37	(1.18)	3.83

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