Short-term Bond Correlations

Mutual Funds . USA . 
Fund . Short Term Bond Fund
HOSBX Fund  USD 4.96  0.01  0.20%   
The current 90-days correlation between Short Term Bond and International Equity Fund is -0.02 (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

Significant diversification

The correlation between Short Term Bond Fund and DJI is 0.03 (i.e., Significant 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 Risk vs Return Analysis 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 bureau of labor statistics.

Moving together with Short-term Mutual Fund

  0.7HISIX International EquityPairCorr
  0.79HNASX Growth Fund GrowthPairCorr
  0.92HOIBX Homestead IntermediatePairCorr
  0.84HOSGX Short Term GovernmentPairCorr
  0.87HOVLX Value Fund ValuePairCorr
  0.76HSCSX Small-company StockPairCorr
  0.84HSTIX Stock Index FundPairCorr
  0.84VBIRX Vanguard Short TermPairCorr
  0.84VFSUX Vanguard Short TermPairCorr
  0.94VFSIX Vanguard Short TermPairCorr
  0.94VFSTX Vanguard Short TermPairCorr
  0.91VBITX Vanguard Short TermPairCorr
  0.92VBISX Vanguard Short TermPairCorr
  0.95LALDX Lord Abbett ShortPairCorr
  0.92VSCSX Vanguard Short TermPairCorr
  0.95LDLAX Lord Abbett ShortPairCorr
  0.91LDLRX Lord Abbett ShortPairCorr
  0.84SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.84SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.86TTEEX T Rowe PricePairCorr
  0.86TREMX T Rowe PricePairCorr
  0.85FIKGX Fidelity Advisor SemPairCorr
  0.86ONERX One Rock Fund Steady GrowthPairCorr
  0.85FELCX Fidelity Advisor SemPairCorr
  0.85FELIX Fidelity Advisor SemPairCorr
  0.85FSELX Fidelity Select SemiPairCorr
  0.85FELAX Fidelity Advisor SemPairCorr
  0.91FAOTX American Funds 2020PairCorr
  0.86AMFCX American MutualPairCorr
  0.89VRRFX Voya Target InPairCorr
  0.93WAPAX Western Asset EPairCorr
  0.79LMGEX Qs International EquityPairCorr
  0.78VSQAX Invesco Global ResponsPairCorr
  0.86EGRSX Eaton Vance GlobalPairCorr
  0.66DBCMX Doubleline StrategicPairCorr
  0.77DRLAX Dreyfus Global RealPairCorr
  0.85TSMUX Tiaa-cref Small/mid-capPairCorr
  0.73FUSRX Franklin GovernmentPairCorr
  0.83VVERX Virtus Ceredex SmallPairCorr

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.

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