Low Duration Correlations

Mutual Funds . USA . 
Fund . Low Duration Bond Investor
GLDZX Fund  USD 12.95  0.02  0.15%   
The current 90-days correlation between Low Duration Bond and Needham Aggressive Growth is -0.2 (i.e., Good diversification). The correlation of Low 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.

Low Duration Correlation With Market

Good diversification

The correlation between Low Duration Bond Investor and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Low Duration Bond Investor and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Low Duration Bond Investor. 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 nation.

Moving together with Low Mutual Fund

  0.87GCOZX Growth AllocationPairCorr
  0.87GDMYX Defensive Market StrPairCorr
  0.87GDMZX Defensive Market StrPairCorr
  0.92GVEYX Value Equity InstituPairCorr
  0.92GVEZX Value Equity InvestorPairCorr
  0.81GVIYX Guidestone Value EquityPairCorr
  0.82GVIZX Guidestone Value EquityPairCorr
  0.85GEIYX Guidestone Growth EquityPairCorr
  0.88GEMYX Emerging Markets EquityPairCorr
  0.88GEMZX Emerging Markets EquityPairCorr
  0.85GEQZX Equity Index InvestorPairCorr
  0.67GFIZX Conservative AllocationPairCorr
  0.96GGBEX Global Bond FundPairCorr
  0.77GGBFX Global Bond FundPairCorr
  0.86GGEYX Guidestone Fds GrowthPairCorr
  0.85GGEZX Growth Equity InvestorPairCorr
  0.89GGIZX Balanced AllocationPairCorr
  0.87GGRYX Growth AllocationPairCorr
  0.81GIEYX International EquityPairCorr
  0.81GIEZX International EquityPairCorr
  0.83GIIYX International EquityPairCorr
  0.64GLDYX Low Duration BondPairCorr
  0.7GMDYX Medium Duration BondPairCorr
  0.7GMDZX Medium Duration BondPairCorr
  0.75GMBYX Guidestone FundsPairCorr
  0.64GMBZX Guidestone FundsPairCorr
  0.86GMFZX Mydestination 2045PairCorr
  0.62GMGZX Mydestination 2055PairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Low Mutual Fund performing well and Low 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 Low 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.

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