Short Term Correlations

TWUSX Fund

USD 9.19 0.01 0.11%

The current 90-days correlation between Short Term Government and Aqr Diversified Arbitrage is 0.23 (i.e., Modest 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 Government Fund and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Short Term Government Fund 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 Short Term Government 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 main economic indicators.

Moving together with Short Mutual Fund

0.76	CDBCX	Diversified Bond	Pair Corr
0.77	TWARX	Short Term Government	Pair Corr
0.97	TWAVX	Short Term Government	Pair Corr
0.67	TWTCX	Intermediate Term Tax	Pair Corr
0.7	TWTIX	Intermediate Term Tax	Pair Corr
0.97	TWUOX	Short Term Government	Pair Corr
0.77	TWWOX	Intermediate Term Tax	Pair Corr
0.67	ANTUX	Nt Non Intrinsic	Pair Corr
0.63	AONIX	One Choice Portfolio	Pair Corr

Moving against Short Mutual Fund

0.59	TWHIX	Heritage Fund Investor	Pair Corr
0.34	AMVRX	Mid Cap Value	Pair Corr
0.31	AMVGX	Mid Cap Value	Pair Corr

Related Correlations Analysis

	QDARX	EIIMX	VDSCX	ELDFX	PHTYX	CDEYX
QDARX		0.83	0.78	0.72	0.67	0.71	QDARX
EIIMX	0.83		0.87	0.81	0.82	0.87	EIIMX
VDSCX	0.78	0.87		0.87	0.86	0.94	VDSCX
ELDFX	0.72	0.81	0.87		0.99	0.81	ELDFX
PHTYX	0.67	0.82	0.86	0.99		0.84	PHTYX
CDEYX	0.71	0.87	0.94	0.81	0.84		CDEYX
	QDARX	EIIMX	VDSCX	ELDFX	PHTYX	CDEYX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
QDARX	0.07	0.01	(0.67)	0.32	0.00	(0.10)	0.15	(0.08)	0.38
EIIMX	0.14	0.03	(0.19)	0.73	0.00	(0.19)	0.30	(0.29)	0.74
VDSCX	0.63	0.11	0.04	1.10	0.82	(0.63)	1.19	(1.27)	3.87
ELDFX	0.34	0.02	(0.01)	0.12	0.45	(0.35)	0.77	(0.72)	2.26
PHTYX	0.47	0.03	0.01	0.11	0.62	(0.48)	1.02	(1.00)	3.22
CDEYX	0.51	0.07	0.00	0.65	0.59	(0.55)	1.08	(0.96)	3.28

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