Short Term Correlations

Mutual Funds . USA . 
Fund . Short Term Fund R
PTSRX Fund  USD 9.67  0.01  0.10%   
The current 90-days correlation between Short Term Fund and Franklin Federal Limited Term is 0.59 (i.e., Very weak diversification). The correlation of Short Term 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 Correlation With Market

Average diversification

The correlation between Short Term Fund R and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Short Term Fund R 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 Fund R. 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 Short Mutual Fund

  0.84PFBPX Pimco Foreign BondPairCorr
  0.95PFCJX Pimco Preferred AndPairCorr
  0.95PFANX Pimco Capital SecPairCorr
  0.94PFIAX Pimco Floating IncomePairCorr
  0.93PFIIX Pimco Floating IncomePairCorr
  0.9PFIUX Pimco Unconstrained BondPairCorr
  0.95PFINX Pimco Capital SecPairCorr
  0.94PFNCX Pimco Floating IncomePairCorr
  0.84PFONX Pimco International BondPairCorr
  0.84PFORX Pimco Foreign BondPairCorr
  0.95PFNNX Pimco Preferred AndPairCorr
  0.94PFNIX Pimco Low DurationPairCorr
  0.9PFNUX Pimco Dynamic BondPairCorr
  0.83PFOAX Pimco Foreign BondPairCorr
  0.79PFOCX Pimco Foreign BondPairCorr
  0.68PFRCX Foreign BondPairCorr
  0.82PFRAX Pimco Foreign BondPairCorr
  0.9PFRMX Pimco Inflation ResponsePairCorr
  0.95PFPNX Pimco Capital SecPairCorr
  1.0PFTCX Short Term FundPairCorr
  0.94PFTPX Pimco Floating IncomePairCorr
  0.81PFRRX Pimco Foreign BondPairCorr
  0.94PFSIX Pimco Emerging MarketsPairCorr
  0.71PFUUX Pimco Foreign BondPairCorr
  0.7PFUAX Foreign BondPairCorr
  0.71PFUIX Foreign BondPairCorr
  0.71PFUNX Pimco International BondPairCorr
  0.71PFUPX Pimco Foreign BondPairCorr
  0.96PGAPX Pimco Global MultiPairCorr
  0.94PXTIX Fundamental IndexplusPairCorr
  0.89PGBIX Global Bond FundPairCorr
  0.96PGAIX Pimco Global MultiPairCorr

Moving against Short Mutual Fund

  0.75PWLBX Pimco Rae WorldwidePairCorr
  0.63PWLEX Pimco Rae WorldwidePairCorr
  0.57PWLMX Pimco Rae WorldwidePairCorr
  0.55PWLIX Pimco Rae WorldwidePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Short Mutual Fund performing well and Short Term 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'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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