Short Duration Correlations

Mutual Funds . USA . 
Fund . Short Duration Bond
RSBYX Fund  USD 18.94  0.02  0.11%   
The current 90-days correlation between Short Duration Bond and International Developed Markets is -0.05 (i.e., Good diversification). The correlation of Short Duration 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 Duration Correlation With Market

Significant diversification

The correlation between Short Duration Bond and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Short Duration Bond 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 Duration 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 manufacturing.

Moving together with Short Mutual Fund

  0.84RNTTX International DevelopedPairCorr
  0.79RREAX Global Real EstatePairCorr
  0.79RREYX Global Real EstatePairCorr
  0.79RRESX Global Real EstatePairCorr
  0.78RRSCX Global Real EstatePairCorr
  0.79RRSRX Global Real EstatePairCorr
  0.88RALAX Growth StrategyPairCorr
  0.88RALCX Growth StrategyPairCorr
  0.88RALSX Growth StrategyPairCorr
  0.88RALRX Growth StrategyPairCorr
  0.88RALVX Growth StrategyPairCorr
  0.91RSBRX Strategic BondPairCorr
  0.98RSBTX Short Duration BondPairCorr
  0.86RSCRX Us Small CapPairCorr
  1.0RSBCX Short Duration BondPairCorr
  0.87RSECX Us Strategic EquityPairCorr
  0.87RSEAX Us Strategic EquityPairCorr
  0.87RSESX Us Strategic EquityPairCorr
  1.0RSDTX Short Duration BondPairCorr
  0.9RAZAX Multi Asset GrowthPairCorr
  0.91RAZCX Multi Asset GrowthPairCorr
  0.9RSQAX Us E EquityPairCorr
  0.88RBCUX Tax Exempt BondPairCorr
  0.91RSYTX Strategic BondPairCorr
  0.89RBLCX Balanced StrategyPairCorr
  0.89RBLAX Balanced StrategyPairCorr
  0.9RBLSX Balanced StrategyPairCorr
  0.9RBLVX Balanced StrategyPairCorr
  0.9RBLRX Balanced StrategyPairCorr
  0.87RTDAX Multifactor EquityPairCorr
  0.87RTDCX Multifactor EquityPairCorr
  0.87RTDYX Select EquityPairCorr
  0.87RTDSX Select EquityPairCorr
  0.87RTDRX Select EquityPairCorr
  0.87RTDTX Select EquityPairCorr
  0.86RTEAX Tax Exempt BondPairCorr
  0.83RTECX Tax Exempt BondPairCorr

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 Duration 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 Duration'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
RNTTX  0.52  0.22  0.12 (3.29) 0.27 
(0.63)
 1.40 
(0.95)
 3.12 
RREAX  0.55  0.14 (0.01)(1.30) 0.56 
(0.57)
 1.44 
(1.15)
 3.71 
RREYX  0.54  0.14 (0.01)(1.38) 0.56 
(0.56)
 1.42 
(1.17)
 3.69 
RRESX  0.55  0.14 (0.01)(1.30) 0.58 
(0.56)
 1.46 
(1.14)
 3.68 
RRSCX  0.54  0.13 (0.01)(1.27) 0.57 
(0.55)
 1.45 
(1.14)
 3.70 
RRSRX  0.54  0.14 (0.01)(1.30) 0.54 
(0.59)
 1.46 
(1.14)
 3.72 
RALAX  0.47  0.20  0.08 (2.58) 0.32 
(0.54)
 1.43 
(1.07)
 3.42 
RALCX  0.46  0.20  0.07 (2.55) 0.32 
(0.52)
 1.46 
(1.08)
 3.46 
RALSX  0.47  0.20  0.08 (2.45) 0.34 
(0.52)
 1.46 
(1.12)
 3.31 
RALRX  0.47  0.20  0.08 (2.61) 0.33 
(0.52)
 1.46 
(1.12)
 3.30 

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