The Short-term Correlations

Mutual Funds . USA . 
Fund . The Short Term Municipal
HCSBX Fund  USD 9.65  0.01  0.10%   
The current 90-days correlation between The Short-term and Lord Abbett Diversified is -0.07 (i.e., Good diversification). The correlation of The Short-term 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.

The Short-term Correlation With Market

Good diversification

The correlation between The Short Term Municipal and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Short Term Municipal 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 The Short Term Municipal. 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 bureau of labor statistics.

Moving together with The Mutual Fund

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  0.95VITSX Vanguard Total StockPairCorr
  0.95VSTSX Vanguard Total StockPairCorr
  0.95VSMPX Vanguard Total StockPairCorr
  0.95VFINX Vanguard 500 IndexPairCorr
  0.95VFFSX Vanguard 500 IndexPairCorr
  0.97VGTSX Vanguard Total InterPairCorr
  0.97VTIAX Vanguard Total InterPairCorr
  0.75NHS Neuberger Berman HighPairCorr
  0.88PFE Pfizer IncPairCorr
  0.65XOM Exxon Mobil CorpPairCorr
  0.83AA Alcoa CorpPairCorr
  0.83DD Dupont De NemoursPairCorr
  0.95CSCO Cisco SystemsPairCorr
  0.93IBM International Business Earnings Call This WeekPairCorr
  0.93DIS Walt DisneyPairCorr
  0.85CVX Chevron CorpPairCorr
  0.94CAT CaterpillarPairCorr
  0.89BA BoeingPairCorr
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Moving against The Mutual Fund

  0.57KO Coca Cola Earnings Call This WeekPairCorr
  0.46VZ Verizon Communications Earnings Call This WeekPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between The Mutual Fund performing well and The Short-term 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 The Short-term'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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