Short Term Correlations

Mutual Funds . USA . 
Fund . Short Term Bond Fund
RAAGX Fund  USD 9.59  0.01  0.10%   
The current 90-days correlation between Short Term Bond and Janus High Yield Fund is 0.16 (i.e., Average 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

Good diversification

The correlation between Short Term Bond Fund and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Short Term Bond 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 Bond 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 price.

Moving together with Short Mutual Fund

  0.75FPPPX American Funds PresePairCorr
  0.61TEAFX Tax Exempt BondPairCorr
  0.7AMPCX Amcap Fund ClassPairCorr
  0.67RNPBX New PerspectivePairCorr
  0.67RNPAX New PerspectivePairCorr
  0.74RNPHX New PerspectivePairCorr
  0.65RNPGX New PerspectivePairCorr
  0.67RNPFX New PerspectivePairCorr
  0.74RNPEX New PerspectivePairCorr
  0.78AMRFX American MutualPairCorr
  0.8AMUSX Us Government SecuritiesPairCorr
  0.79TEPCX American Funds TaxPairCorr
  0.79CDWEX American Funds DevelopingPairCorr
  0.73CDWCX American Funds DevelopingPairCorr
  0.77CDWAX American Funds DevelopingPairCorr
  0.8ANBEX American Funds StrategicPairCorr
  0.81ANBGX American Funds StrategicPairCorr
  0.73ANBFX American Funds StrategicPairCorr
  0.71ANCFX American Funds FundaPairCorr
  0.79ANEFX New Economy FundPairCorr
  0.79ANFFX New Economy FundPairCorr
  0.67NPFCX New PerspectivePairCorr
  0.61TFEBX Tax Exempt BondPairCorr

Related Correlations Analysis

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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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