Total Return Correlations

MBFIX Fund

USD 11.03 0.02 0.18%

The current 90-days correlation between Total Return Bond and Franklin Government Securities is 0.14 (i.e., Average diversification). 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

Average diversification

The correlation between Total Return Bond and DJI is 0.1 (i.e., Average 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 gross domestic product.

Moving together with Total Mutual Fund

0.71	SADIX	Wells Fargo Ultra	Pair Corr
0.71	SSHIX	Wells Fargo Short	Pair Corr
0.83	SSTVX	Wells Fargo Short	Pair Corr
0.72	WSBIX	Short Term Municipal	Pair Corr
0.61	WARAX	Wells Fargo Advantage	Pair Corr
0.62	WARDX	Wells Fargo Advantage	Pair Corr
0.92	WSGIX	Wells Fargo Short	Pair Corr
0.82	WSIAX	Wells Fargo Strategic	Pair Corr
0.83	WSICX	Wells Fargo Strategic	Pair Corr
0.83	WSINX	Wells Fargo Strategic	Pair Corr
0.71	WSMAX	Short Term Municipal	Pair Corr
0.72	WSSCX	Short Term Municipal	Pair Corr
0.72	STRIX	Wells Fargo Advantage	Pair Corr
0.97	STYAX	Wells Fargo Income	Pair Corr

Related Correlations Analysis

	FKFSX	SMAAX	WMBDX	SSAGX	TWACX	FICMX
FKFSX		0.67	0.87	0.69	0.91	0.98	FKFSX
SMAAX	0.67		0.52	0.93	0.73	0.64	SMAAX
WMBDX	0.87	0.52		0.64	0.8	0.87	WMBDX
SSAGX	0.69	0.93	0.64		0.79	0.66	SSAGX
TWACX	0.91	0.73	0.8	0.79		0.92	TWACX
FICMX	0.98	0.64	0.87	0.66	0.92		FICMX
	FKFSX	SMAAX	WMBDX	SSAGX	TWACX	FICMX

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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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FKFSX	0.25	0.00	(0.43)	0.20	0.26	(0.30)	0.60	(0.60)	1.41
SMAAX	0.11	0.03	(0.77)	28.35	0.00	(0.15)	0.21	(0.10)	0.71
WMBDX	0.28	(0.01)	(0.45)	0.04	0.31	(0.31)	0.52	(0.64)	1.29
SSAGX	0.07	0.01	(1.51)	0.58	0.00	(0.17)	0.10	(0.10)	0.61
TWACX	0.09	0.00	(1.15)	0.01	0.00	(0.16)	0.22	(0.22)	0.56
FICMX	0.31	0.01	(0.33)	0.51	0.35	(0.35)	0.56	(0.68)	1.49

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Total Return Correlations

Total Return Correlation With Market

Average diversification

Moving together with Total Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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