Total Return Correlations

MNTRX Fund  USD 11.00  0.02  0.18%   
The current 90-days correlation between Total Return Bond and Victory Diversified Stock is -0.03 (i.e., Good 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

Good diversification

The correlation between Total Return Bond and DJI is -0.01 (i.e., Good 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 metropolitan statistical area.

Moving together with Total Mutual Fund

  0.72SADIX Wells Fargo UltraPairCorr
  0.81SSHIX Wells Fargo ShortPairCorr
  0.83SSTVX Wells Fargo ShortPairCorr
  0.73WSBIX Short Term MunicipalPairCorr
  0.61WARAX Wells Fargo AdvantagePairCorr
  0.62WARDX Wells Fargo AdvantagePairCorr
  0.91WSGIX Wells Fargo ShortPairCorr
  0.83WSIAX Wells Fargo StrategicPairCorr
  0.67WSIDX Wells Fargo StrategicPairCorr
  0.84WSICX Wells Fargo StrategicPairCorr
  0.84WSINX Wells Fargo StrategicPairCorr
  0.73WSMAX Short Term MunicipalPairCorr
  0.73WSSCX Short Term MunicipalPairCorr
  0.73WSTMX Short Term MunicipalPairCorr
  0.73STRIX Wells Fargo AdvantagePairCorr
  0.98STYAX Wells Fargo IncomePairCorr

Related Correlations Analysis

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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.