Short-term Income Correlations

Mutual Funds . USA . 
Fund . Short Term Income Fund
PSTPX Fund  USD 10.12  0.01  0.1%   
The current 90-days correlation between Short Term Income and Aqr Small Cap is 0.13 (i.e., Average diversification). The correlation of Short-term Income 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 Income Correlation With Market

Average diversification

The correlation between Short Term Income Fund and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Short Term Income Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Short Term Income 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 american community survey.

Moving together with Short-term Mutual Fund

  0.97PSCIX Palmer Square SsiPairCorr
  0.99PSDSX Palmer Square UltraPairCorr
  1.0PSYPX Palmer Square IncomePairCorr
  0.96PTSPX Pimco Short TermPairCorr
  0.97PTSHX Short Term FundPairCorr
  0.96PSFAX Short Term FundPairCorr
  0.96PTSRX Short Term FundPairCorr
  0.97PSDNX Putnam Ultra ShortPairCorr
  0.97LUSNX Lord Abbett UltraPairCorr
  0.99VUBFX Vanguard Ultra ShortPairCorr
  0.98PSDRX Putnam Short DurationPairCorr
  0.97PSDYX Putnam Short DurationPairCorr
  0.97DXQLX Direxion Monthly NasdaqPairCorr
  0.97RYVLX Nasdaq 100 2xPairCorr
  0.97RYVYX Nasdaq 100 2xPairCorr
  0.97UOPIX Ultra Nasdaq 100PairCorr
  0.97RYCCX Nasdaq 100 2xPairCorr
  0.97UOPSX Ultranasdaq 100 ProfundPairCorr
  0.95INPIX Internet UltrasectorPairCorr
  0.95INPSX Internet UltrasectorPairCorr
  0.78BIPIX Biotechnology UltrasectorPairCorr
  0.97MAMOX Mutual Of AmericaPairCorr
  0.95ABVIX Ab Value FundPairCorr
  0.97VPISX Voya Index SolutionPairCorr
  0.96TCLCX Tiaa-cref Large-capPairCorr
  0.94NAWGX Voya Global EquityPairCorr
  0.94MDBAX Blackrock Basic ValuePairCorr
  0.91ILMBX Voya Limited MaturityPairCorr
  0.99NARCX Voya Multi ManagerPairCorr
  0.91VVPLX Vulcan Value PartnersPairCorr
  0.94MRLOX Blackrock Gbl AllocPairCorr
  0.96SDMAX Prudential Short DurationPairCorr
  0.95AZMAX Allianzgi Nfj EmergingPairCorr
  0.93IMOZX Voya Midcap OpportunitiesPairCorr
  0.97ARCMX One Choice 2030PairCorr
  0.97JGCIX Janus Global AllocationPairCorr
  0.77IOSIX Voya Global BondPairCorr
  0.97VPSAX Voya Index SolutionPairCorr

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 Income 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 Income'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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