California Limited-term Correlations

Mutual Funds . USA . 
Fund . California Limited Term Tax Free
SCTIX Fund  USD 10.02  0.01  0.1%   
The current 90-days correlation between California Limited Term and Alphacentric Lifesci Healthcare is 0.18 (i.e., Average diversification). The correlation of California Limited-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.

California Limited-term Correlation With Market

Good diversification

The correlation between California Limited Term Tax Fr and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding California Limited Term Tax Fr and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in California Limited Term Tax Free. 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 gross domestic product.

Moving together with California Mutual Fund

  0.95DHICX Wells Fargo AdvantagePairCorr
  0.95VMPYX Wells Fargo AdvantagePairCorr
  0.95VMPAX Wells Fargo AdvantagePairCorr
  0.99SADAX Wells Fargo UltraPairCorr
  0.99SADIX Wells Fargo UltraPairCorr
  0.96EMGYX Wells Fargo EmergingPairCorr
  0.96EMGNX Wells Fargo EmergingPairCorr
  0.96EMGCX Wells Fargo EmergingPairCorr
  0.96EMGAX Wells Fargo EmergingPairCorr
  0.95SSHIX Wells Fargo ShortPairCorr
  0.98SSTHX Wells Fargo ShortPairCorr
  0.97SSTVX Wells Fargo ShortPairCorr
  0.94WSCGX Small Pany GrowthPairCorr
  0.96WSCOX Wells Fargo AdvantagePairCorr
  1.0WSBIX Short Term MunicipalPairCorr
  0.95STAFX Wells Fargo LargePairCorr
  0.85WSGIX Wells Fargo ShortPairCorr
  0.95STDFX Wells Fargo LargePairCorr
  0.95WSIAX Wells Fargo StrategicPairCorr
  0.95WSIDX Wells Fargo StrategicPairCorr
  0.97WSICX Wells Fargo StrategicPairCorr
  0.97WSINX Wells Fargo StrategicPairCorr
  1.0WSMAX Short Term MunicipalPairCorr
  0.94WSMCX Small Pany GrowthPairCorr
  0.99WSSCX Short Term MunicipalPairCorr
  1.0WSTMX Short Term MunicipalPairCorr
  0.95STOFX Wells Fargo LargePairCorr
  0.95STNFX Wells Fargo LargePairCorr
  0.93STSAX Wells Fargo MonPairCorr
  0.94STRIX Wells Fargo AdvantagePairCorr
  0.85STYAX Wells Fargo IncomePairCorr
  0.98STYIX Wells Fargo ShortPairCorr
  0.94SCNSX Wells Fargo MonPairCorr
  0.93SCSDX Wells Fargo MonPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
FACTX
+ 0.95
LYFAX
HGHYX
+ 0.94
LYFAX
HGHYX
+ 0.92
FACTX
ETAHX
+ 0.9
HHCZX
ETAHX
+ 0.85
LHCCX
LHCCX
+ 0.72
LYFAX
  
High negative correlations   
HGHYX
- 0.14
HHCZX

Risk-Adjusted Indicators

There is a big difference between California Mutual Fund performing well and California Limited-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 California Limited-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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