Short-term Bond Correlations

Mutual Funds USA . 
Fund . Short Term Bond Fund
CAAFX Fund  USD 9.58  0.01  0.10%   
The current 90-days correlation between Short Term Bond and Income Fund Of is -0.04 (i.e., Good diversification). The correlation of Short-term Bond 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-term Bond Correlation With Market

Good diversification

The correlation between Short Term Bond Fund and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Short Term Bond Fund 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 Short 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 census.

Moving together with Short-term Mutual Fund

  0.8AMECX Income FundPairCorr
  0.8AMFCX American MutualPairCorr
  0.8AMFFX American MutualPairCorr
  0.84RNCCX American Funds IncomePairCorr
  0.95FPPPX American Funds PresePairCorr
  0.82AMEFX Income FundPairCorr
  0.8RNGHX New Economy FundPairCorr
  0.73AMHIX American High IncomePairCorr
  0.67TEBCX Tax Exempt BondPairCorr
  0.74TEAFX Tax Exempt BondPairCorr
  0.84FPTPX American Funds ConsePairCorr
  0.78AMPCX Amcap Fund ClassPairCorr
  0.78AMPFX Amcap Fund ClassPairCorr
  0.76RNPBX New PerspectivePairCorr
  0.76RNPAX New PerspectivePairCorr
  0.76RNPHX New PerspectivePairCorr
  0.76RNPGX New PerspectivePairCorr
  0.76RNPFX New PerspectivePairCorr
  0.76RNPEX New PerspectivePairCorr
  0.79AMRMX American MutualPairCorr
  0.8AMRFX American MutualPairCorr
  0.8AMUSX Us Government SecuritiesPairCorr
  0.87TEPCX American Funds TaxPairCorr
  0.87TEPFX American Funds TaxPairCorr
  0.78RNWGX New World FundPairCorr
  0.8CDWEX American Funds DevelopingPairCorr
  0.8CDWCX American Funds DevelopingPairCorr
  0.78CDWAX American Funds DevelopingPairCorr
  0.83ANBEX American Funds StrategicPairCorr
  0.82ANBGX American Funds StrategicPairCorr
  0.83ANBFX American Funds StrategicPairCorr
  0.74ANCFX American Funds FundaPairCorr
  0.8ANEFX New Economy FundPairCorr
  0.8ANFFX New Economy FundPairCorr
  0.76NPFCX New PerspectivePairCorr
  0.76NPFFX New PerspectivePairCorr
  0.74TFEBX Tax Exempt BondPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Short-term Mutual Fund performing well and Short-term Bond 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-term Bond'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
AMECX  0.32  0.07 (0.02) 0.31  0.10 
(0.35)
 0.91 
(0.56)
 2.22 
RNEBX  0.46  0.17  0.18  0.45  0.00 
(0.54)
 1.87 
(0.87)
 3.41 
AMFCX  0.51  0.06  0.04  0.22  0.47 
(0.60)
 1.52 
(0.83)
 3.61 
AMFFX  0.51  0.07  0.04  0.23  0.46 
(0.61)
 1.52 
(0.84)
 3.62 
RNCCX  0.27  0.06 (0.05) 0.31  0.00 
(0.33)
 0.85 
(0.50)
 1.83 
FPPPX  0.13  0.01 (0.58)(0.41) 0.07 
(0.14)
 0.21 
(0.32)
 0.64 
AMEFX  0.32  0.08  0.00  0.34  0.00 
(0.37)
 0.88 
(0.53)
 2.24 
RNGGX  0.69  0.18  0.18  0.33  0.47 
(0.79)
 2.23 
(1.36)
 5.17 
RNGFX  0.68  0.18  0.17  0.33  0.48 
(0.77)
 2.24 
(1.36)
 5.16 
RNGHX  0.68  0.18  0.18  0.33  0.47 
(0.77)
 2.25 
(1.35)
 5.17 

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