Limited Duration Correlations

AASTX Fund

USD 9.26 0.03 0.33%

The current 90-days correlation between Limited Duration and Bond Fund Investor is 0.81 (i.e., Very poor diversification). The correlation of Limited 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.

Limited Duration Correlation With Market

Good diversification

The correlation between Limited Duration Fund and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Limited Duration Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Limited Duration 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 estimate.

Moving together with Limited Mutual Fund

0.87	APBDX	Bond Fund Investor	Pair Corr
0.89	APENX	Strategic Enhanced Yield	Pair Corr
0.99	APSTX	Limited Duration	Pair Corr
0.87	AABOX	Bond Fund Class	Pair Corr
0.89	AAENX	Strategic Enhanced Yield	Pair Corr
0.88	AIBNX	Bond Fund Institutional	Pair Corr
0.9	AIENX	Strategic Enhanced Yield	Pair Corr
0.99	AISTX	Limited Duration	Pair Corr
0.96	VBIRX	Vanguard Short Term	Pair Corr
0.89	VFSUX	Vanguard Short Term	Pair Corr
0.97	VFSIX	Vanguard Short Term	Pair Corr
0.98	VFSTX	Vanguard Short Term	Pair Corr
0.98	VBITX	Vanguard Short Term	Pair Corr
0.98	VBISX	Vanguard Short Term	Pair Corr
0.69	LALDX	Lord Abbett Short	Pair Corr
0.96	VSCSX	Vanguard Short Term	Pair Corr
0.74	LDLAX	Lord Abbett Short	Pair Corr
0.7	LDLRX	Lord Abbett Short	Pair Corr
0.82	XDSMX	Dreyfus Strategic	Pair Corr
0.78	XNXJX	Nuveen New Jersey	Pair Corr
0.83	NXJ	Nuveen New Jersey	Pair Corr

Moving against Limited Mutual Fund

0.6	ACWEX	World Energy	Pair Corr
0.6	AIWEX	World Energy	Pair Corr
0.59	APWEX	World Energy	Pair Corr
0.59	AAWEX	World Energy	Pair Corr
0.39	APLIX	Cavanal Hill Hedged	Pair Corr
0.39	AILIX	Cavanal Hill Hedged	Pair Corr
0.38	AALIX	Astonherndon Large Cap	Pair Corr
0.5	VIGAX	Vanguard Growth Index	Pair Corr
0.49	LTFOX	Lord Abbett Affiliated	Pair Corr
0.45	SMERX	Invesco Small Cap	Pair Corr
0.44	XPPRX	Voya Prime Rate	Pair Corr
0.44	VTSMX	Vanguard Total Stock	Pair Corr
0.44	RQECX	Resq Dynamic Allocation	Pair Corr
0.42	VFIAX	Vanguard 500 Index	Pair Corr
0.42	VFINX	Vanguard 500 Index	Pair Corr
0.42	AGTHX	Growth Fund	Pair Corr

Related Correlations Analysis

	APBDX	APENX	APLIX	APWEX	AAENX	AALIX	AAUSX	AAWEX	ACWEX	AIBNX
APBDX		0.99	-0.72	-0.85	1.0	-0.72	-0.7	-0.85	-0.85	1.0	APBDX
APENX	0.99		-0.67	-0.82	1.0	-0.67	-0.65	-0.82	-0.82	1.0	APENX
APLIX	-0.72	-0.67		0.89	-0.68	1.0	0.72	0.89	0.89	-0.71	APLIX
APWEX	-0.85	-0.82	0.89		-0.83	0.89	0.8	1.0	1.0	-0.84	APWEX
AAENX	1.0	1.0	-0.68	-0.83		-0.68	-0.66	-0.83	-0.83	0.99	AAENX
AALIX	-0.72	-0.67	1.0	0.89	-0.68		0.73	0.89	0.89	-0.71	AALIX
AAUSX	-0.7	-0.65	0.72	0.8	-0.66	0.73		0.8	0.8	-0.67	AAUSX
AAWEX	-0.85	-0.82	0.89	1.0	-0.83	0.89	0.8		1.0	-0.84	AAWEX
ACWEX	-0.85	-0.82	0.89	1.0	-0.83	0.89	0.8	1.0		-0.84	ACWEX
AIBNX	1.0	1.0	-0.71	-0.84	0.99	-0.71	-0.67	-0.84	-0.84		AIBNX
	APBDX	APENX	APLIX	APWEX	AAENX	AALIX	AAUSX	AAWEX	ACWEX	AIBNX

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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

AAENX	+ 1.0	APBDX
AIBNX	+ 1.0	APBDX
AAENX	+ 1.0	APENX
AIBNX	+ 1.0	APENX
AALIX	+ 1.0	APLIX
AAWEX	+ 1.0	APWEX

High negative correlations

ACWEX	- 0.85	APBDX
AAWEX	- 0.85	APBDX
APWEX	- 0.85	APBDX
AIBNX	- 0.84	ACWEX
AIBNX	- 0.84	AAWEX
AIBNX	- 0.84	APWEX

Risk-Adjusted Indicators

There is a big difference between Limited Mutual Fund performing well and Limited 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 Limited 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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
APBDX	0.21	(0.02)	0.00	0.38	0.00	0.00	0.36	(0.47)	1.18
APENX	0.19	(0.02)	0.00	0.55	0.00	0.00	0.34	(0.45)	1.11
APLIX	0.39	(0.03)	(0.14)	0.07	0.46	(0.44)	0.80	(0.95)	2.71
APWEX	0.89	0.10	0.08	0.21	0.95	(0.97)	2.01	(1.67)	5.80
AAENX	0.19	(0.02)	0.00	0.61	0.00	0.00	0.34	(0.57)	1.15
AALIX	0.35	(0.02)	(0.16)	0.08	0.35	(0.44)	0.64	(0.79)	2.63
AAUSX	0.03	0.00	0.00	(0.09)	0.00	0.00	0.10	0.00	0.40
AAWEX	0.89	0.10	0.08	0.22	0.94	(1.00)	2.09	(1.68)	5.82
ACWEX	0.89	0.10	0.08	0.21	0.94	(0.97)	2.03	(1.63)	5.72
AIBNX	0.21	(0.02)	0.00	0.43	0.00	0.00	0.36	(0.59)	1.16

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