Ultra Short Correlations

Mutual Funds . USA . 
Fund . Ultra Short Term Municipal
SMAVX Fund  USD 9.67  0.01  0.10%   
The current 90-days correlation between Ultra Short Term and Cref Inflation Linked Bond is -0.17 (i.e., Good diversification). The correlation of Ultra Short 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.

Ultra Short Correlation With Market

Significant diversification

The correlation between Ultra Short Term Municipal and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ultra Short Term Municipal 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 Ultra Short Term Municipal. 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 real.

Moving together with Ultra Mutual Fund

  0.9DHICX Wells Fargo AdvantagePairCorr
  0.9VMPYX Wells Fargo AdvantagePairCorr
  0.91VMPAX Wells Fargo AdvantagePairCorr
  0.99SADAX Wells Fargo UltraPairCorr
  0.99SADIX Wells Fargo UltraPairCorr
  0.95EMGYX Wells Fargo EmergingPairCorr
  0.95EMGNX Wells Fargo EmergingPairCorr
  0.94EMGCX Wells Fargo EmergingPairCorr
  0.94EMGAX Wells Fargo EmergingPairCorr
  0.95SSHIX Wells Fargo ShortPairCorr
  0.96SSTHX Wells Fargo ShortPairCorr
  0.95SSTVX Wells Fargo ShortPairCorr
  0.92WSCGX Small Pany GrowthPairCorr
  0.95WSCOX Wells Fargo AdvantagePairCorr
  0.99WSBIX Short Term MunicipalPairCorr
  0.94STAFX Wells Fargo LargePairCorr
  0.86WSGIX Wells Fargo ShortPairCorr
  0.94STDFX Wells Fargo LargePairCorr
  0.94WSIAX Wells Fargo StrategicPairCorr
  0.94WSIDX Wells Fargo StrategicPairCorr
  0.95WSICX Wells Fargo StrategicPairCorr
  0.95WSINX Wells Fargo StrategicPairCorr
  0.99WSMAX Short Term MunicipalPairCorr
  0.92WSMCX Small Pany GrowthPairCorr
  0.99WSSCX Short Term MunicipalPairCorr
  0.99WSTMX Short Term MunicipalPairCorr
  0.94STOFX Wells Fargo LargePairCorr
  0.94STNFX Wells Fargo LargePairCorr
  0.91STSAX Wells Fargo MonPairCorr
  0.89STRIX Wells Fargo AdvantagePairCorr
  0.82STYAX Wells Fargo IncomePairCorr
  0.97STYIX Wells Fargo ShortPairCorr
  0.92SCNSX Wells Fargo MonPairCorr
  0.92SCSDX Wells Fargo MonPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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