Government Bond Correlations

ABTIX Fund

USD 9.39 0.02 0.21%

The current 90-days correlation between Government Bond and Barings Emerging Markets is 0.52 (i.e., Very weak diversification). The correlation of Government Bond 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.

Government Bond Correlation With Market

Very good diversification

The correlation between Government Bond Fund and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Government Bond 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 Government Bond 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 gross domestic product.

Moving together with Government Mutual Fund

0.94	CDBCX	Diversified Bond	Pair Corr
0.63	TWACX	Short Term Government	Pair Corr
0.61	TWADX	Value Fund A	Pair Corr
0.61	TWARX	Short Term Government	Pair Corr
0.66	TWEAX	Equity Income	Pair Corr
0.66	TWEIX	Equity Income	Pair Corr
0.65	TWGAX	International Growth	Pair Corr
0.66	TWIEX	International Growth	Pair Corr
0.92	TWTCX	Intermediate Term Tax	Pair Corr
0.93	TWTIX	Intermediate Term Tax	Pair Corr
0.64	TWVLX	Value Fund Investor	Pair Corr
0.93	TWWOX	Intermediate Term Tax	Pair Corr
0.67	NPHIX	High Income Fund	Pair Corr

Moving against Government Mutual Fund

0.32

TWCUX

Ultra Fund Investor

Pair Corr

Related Correlations Analysis

	BXECX	DBELX	JDJRX	SHDAX	PRMDX	TEDMX	AMTOX
BXECX		0.85	0.66	0.93	0.95	0.82	0.8	BXECX
DBELX	0.85		0.3	0.78	0.77	0.89	0.7	DBELX
JDJRX	0.66	0.3		0.59	0.64	0.48	0.53	JDJRX
SHDAX	0.93	0.78	0.59		0.96	0.76	0.7	SHDAX
PRMDX	0.95	0.77	0.64	0.96		0.75	0.74	PRMDX
TEDMX	0.82	0.89	0.48	0.76	0.75		0.78	TEDMX
AMTOX	0.8	0.7	0.53	0.7	0.74	0.78		AMTOX
	BXECX	DBELX	JDJRX	SHDAX	PRMDX	TEDMX	AMTOX

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Risk-Adjusted Indicators

There is a big difference between Government Mutual Fund performing well and Government Bond 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 Government Bond'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
BXECX	0.21	0.02	0.31	(0.38)	0.12	(0.29)	0.54	(0.40)	1.35
DBELX	0.32	0.00	0.18	0.21	0.32	(0.40)	0.60	(0.58)	1.78
JDJRX	0.36	0.05	0.28	4.97	0.28	(0.45)	0.77	(0.65)	2.40
SHDAX	0.06	0.00	0.33	(0.24)	0.00	(0.20)	0.20	(0.20)	0.40
PRMDX	0.07	0.00	0.27	(0.11)	0.00	(0.21)	0.20	(0.20)	0.78
TEDMX	0.73	0.09	0.14	0.18	0.84	(0.79)	1.47	(1.64)	3.66
AMTOX	0.45	0.02	0.09	(0.01)	0.59	(0.50)	0.88	(0.81)	2.81

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