Total Return Correlations

Mutual Funds . USA . 
Fund . Total Return Bond
MBFCX Fund  USD 11.16  0.04  0.36%   
The correlation of Total Return 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.

Total Return Correlation With Market

Significant diversification

The correlation between Total Return Bond and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Total Return Bond and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Total Return Bond. 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 main economic indicators.

Moving together with Total Mutual Fund

  0.68DHICX Wells Fargo AdvantagePairCorr
  0.66VMPYX Wells Fargo AdvantagePairCorr
  0.66VMPAX Wells Fargo AdvantagePairCorr
  0.62WABIX Wells Fargo AdvantagePairCorr
  0.66SSTHX Wells Fargo ShortPairCorr
  0.61WSCOX Wells Fargo AdvantagePairCorr
  0.7WSBIX Short Term MunicipalPairCorr
  0.61WARAX Wells Fargo AdvantagePairCorr
  0.89WSGIX Wells Fargo ShortPairCorr
  0.8WSIAX Wells Fargo StrategicPairCorr
  0.8WSIDX Wells Fargo StrategicPairCorr
  0.81WSICX Wells Fargo StrategicPairCorr
  0.77WSINX Wells Fargo StrategicPairCorr
  0.7WSMAX Short Term MunicipalPairCorr
  0.7WSTMX Short Term MunicipalPairCorr
  0.61STRIX Wells Fargo AdvantagePairCorr
  0.64STYAX Wells Fargo IncomePairCorr
  0.66STYIX Wells Fargo ShortPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Total Mutual Fund performing well and Total Return 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 Total Return'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
DHICX  0.09  0.01 (1.02) 2.98  0.00 
(0.15)
 0.23 
(0.11)
 0.57 
VMPYX  0.10  0.01 (1.00) 1.40  0.00 
(0.16)
 0.23 
(0.12)
 0.69 
VMPAX  0.09  0.01 (1.01) 1.40  0.00 
(0.16)
 0.23 
(0.11)
 0.69 
SADAX  0.06  0.01  0.00  3.33  0.00 
 0.00 
 0.11 
(0.11)
 0.57 
SADIX  0.05  0.00  0.00  0.00  0.00 
 0.00 
 0.11 
 0.00 
 0.46 
EMGYX  0.52  0.25  0.15  14.03  0.00 
(0.63)
 1.84 
(0.92)
 3.58 
EMGNX  0.52  0.26  0.15  13.18  0.00 
(0.63)
 1.84 
(0.93)
 3.54 
EMGCX  0.44  0.16  0.09  0.75  0.00 
(0.54)
 1.25 
(0.56)
 3.54 
EMGAX  0.43  0.17  0.10  0.82  0.00 
(0.53)
 1.10 
(0.57)
 3.58 
SSHIX  0.07  0.02 (1.05)(2.41) 0.00 
(0.12)
 0.12 
(0.12)
 0.35 

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