California Intermediate-ter Correlations

BCITX Fund

USD 11.25 0.03 0.27%

The current 90-days correlation between California Intermediate-ter and Mid Cap Value is -0.27 (i.e., Very good diversification). The correlation of California Intermediate-ter 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 Intermediate-ter Correlation With Market

Very good diversification

The correlation between California Intermediate Term T and DJI is -0.25 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding California Intermediate Term T 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 California Intermediate 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 estimate.

Moving together with California Mutual Fund

0.73	CDBCX	Diversified Bond	Pair Corr
0.79	TWACX	Short Term Government	Pair Corr
0.79	TWARX	Short Term Government	Pair Corr
0.81	TWAVX	Short Term Government	Pair Corr
0.99	TWTIX	Intermediate Term Tax	Pair Corr
0.82	TWUSX	Short Term Government	Pair Corr
0.82	TWUOX	Short Term Government	Pair Corr

Moving against California Mutual Fund

0.39	TWCCX	Ultra Fund C	Pair Corr
0.39	TWCUX	Ultra Fund Investor	Pair Corr
0.36	TWCAX	Select Fund A	Pair Corr
0.36	TWCIX	Select Fund Investor	Pair Corr
0.35	AMEIX	Equity Growth	Pair Corr
0.35	TWCGX	Growth Fund Investor	Pair Corr
0.35	TWGIX	Growth Fund I	Pair Corr
0.39	TWUAX	Ultra Fund A	Pair Corr
0.39	TWUIX	Ultra Fund I	Pair Corr
0.36	TWSIX	Select Fund I	Pair Corr
0.35	TWRCX	Growth Fund C	Pair Corr

Related Correlations Analysis

	AMDVX	AMEIX	AMGIX	CDBCX	AMKIX	TWACX	TWADX	TWCCX	TWCAX	TWCIX
AMDVX		0.82	0.9	-0.52	0.15	-0.4	0.94	0.78	0.77	0.77	AMDVX
AMEIX	0.82		0.97	-0.79	0.37	-0.62	0.92	0.99	0.99	0.99	AMEIX
AMGIX	0.9	0.97		-0.72	0.33	-0.58	0.97	0.93	0.93	0.93	AMGIX
CDBCX	-0.52	-0.79	-0.72		-0.05	0.91	-0.71	-0.79	-0.76	-0.76	CDBCX
AMKIX	0.15	0.37	0.33	-0.05		0.13	0.29	0.35	0.42	0.42	AMKIX
TWACX	-0.4	-0.62	-0.58	0.91	0.13		-0.56	-0.66	-0.61	-0.61	TWACX
TWADX	0.94	0.92	0.97	-0.71	0.29	-0.56		0.88	0.87	0.87	TWADX
TWCCX	0.78	0.99	0.93	-0.79	0.35	-0.66	0.88		0.99	0.99	TWCCX
TWCAX	0.77	0.99	0.93	-0.76	0.42	-0.61	0.87	0.99		1.0	TWCAX
TWCIX	0.77	0.99	0.93	-0.76	0.42	-0.61	0.87	0.99	1.0		TWCIX
	AMDVX	AMEIX	AMGIX	CDBCX	AMKIX	TWACX	TWADX	TWCCX	TWCAX	TWCIX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

TWCIX	+ 1.0	TWCAX
TWCCX	+ 0.99	AMEIX
TWCAX	+ 0.99	AMEIX
TWCIX	+ 0.99	AMEIX
TWCAX	+ 0.99	TWCCX
TWCIX	+ 0.99	TWCCX

High negative correlations

TWCCX	- 0.79	CDBCX
CDBCX	- 0.79	AMEIX
TWCIX	- 0.76	CDBCX
TWCAX	- 0.76	CDBCX
CDBCX	- 0.72	AMGIX
TWADX	- 0.71	CDBCX

Risk-Adjusted Indicators

There is a big difference between California Mutual Fund performing well and California Intermediate-ter 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 Intermediate-ter'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
AMDVX	0.53	0.00	(0.07)	0.12	0.41	(0.63)	0.89	(0.82)	3.22
AMEIX	0.56	0.01	(0.01)	0.13	0.69	(0.62)	1.13	(1.55)	3.88
AMGIX	0.54	0.00	(0.03)	0.12	0.41	(0.62)	1.17	(0.89)	3.48
CDBCX	0.22	(0.03)	0.00	0.60	0.00	0.00	0.43	(0.55)	1.28
AMKIX	0.78	(0.05)	(0.11)	0.02	0.99	(0.85)	1.51	(1.86)	4.82
TWACX	0.08	(0.01)	0.00	0.50	0.00	0.00	0.11	(0.11)	0.78
TWADX	0.49	0.00	(0.08)	0.12	0.37	(0.60)	0.95	(0.70)	2.91
TWCCX	0.77	(0.01)	(0.02)	0.11	1.19	(0.71)	1.69	(2.23)	5.13
TWCAX	0.72	(0.03)	(0.03)	0.09	1.07	(0.66)	1.70	(2.20)	5.36
TWCIX	0.72	(0.03)	(0.03)	0.09	1.07	(0.66)	1.70	(2.20)	5.37

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC