Short-term Bond Correlations

CEAMX Fund

USD 9.53 0.01 0.11%

The current 90-days correlation between Short Term Bond and SPACE is 0.14 (i.e., Average diversification). The correlation of Short-term 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.

Short-term Bond Correlation With Market

Good diversification

The correlation between Short Term Bond Fund and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Short Term 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 Short Term 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 population.

Moving together with Short-term Mutual Fund

0.91	FPPPX	American Funds Prese	Pair Corr
0.69	AMHIX	American High Income	Pair Corr
0.74	TEBCX	Tax Exempt Bond	Pair Corr
0.79	TECCX	Tax Exempt Fund	Pair Corr
0.72	TEAFX	Tax Exempt Bond	Pair Corr
0.77	TECFX	Tax Exempt Fund	Pair Corr
0.76	TEFEX	Tax Exempt Fund	Pair Corr
0.82	AMUSX	Us Government Securities	Pair Corr
0.75	TEPCX	American Funds Tax	Pair Corr
0.72	TEPAX	American Funds Tax	Pair Corr
0.71	TEPFX	American Funds Tax	Pair Corr

Moving against Short-term Mutual Fund

0.37	RNGGX	New Economy Fund	Pair Corr
0.37	RNGFX	New Economy Fund	Pair Corr
0.36	RNGHX	New Economy Fund	Pair Corr
0.36	RNGBX	New Economy Fund	Pair Corr
0.36	RNGAX	New Economy Fund	Pair Corr
0.36	RNGEX	New Economy Fund	Pair Corr
0.36	RNGCX	New Economy Fund	Pair Corr
0.36	RNNEX	New Economy Fund	Pair Corr
0.34	AMPCX	Amcap Fund Class	Pair Corr
0.34	AMPFX	Amcap Fund Class	Pair Corr
0.38	ANCFX	American Funds Funda	Pair Corr
0.36	ANFCX	New Economy Fund	Pair Corr
0.36	ANEFX	New Economy Fund	Pair Corr
0.36	ANFFX	New Economy Fund	Pair Corr

Related Correlations Analysis

	ID	BAYAU	BAYAR	AMPL	IO	KIN	EURK	EMBC	KOD	MEME
ID		0.36	0.31	0.31	0.9	-0.5	0.11	0.35	0.87	0.83	ID
BAYAU	0.36		0.66	0.36	0.16	-0.68	0.23	-0.46	0.27	0.44	BAYAU
BAYAR	0.31	0.66		0.33	0.07	-0.7	0.13	-0.31	0.39	0.36	BAYAR
AMPL	0.31	0.36	0.33		0.32	-0.41	-0.02	-0.11	0.24	0.32	AMPL
IO	0.9	0.16	0.07	0.32		-0.37	0.05	0.43	0.79	0.74	IO
KIN	-0.5	-0.68	-0.7	-0.41	-0.37		-0.17	0.31	-0.66	-0.58	KIN
EURK	0.11	0.23	0.13	-0.02	0.05	-0.17		-0.05	0.12	0.11	EURK
EMBC	0.35	-0.46	-0.31	-0.11	0.43	0.31	-0.05		0.3	0.12	EMBC
KOD	0.87	0.27	0.39	0.24	0.79	-0.66	0.12	0.3		0.75	KOD
MEME	0.83	0.44	0.36	0.32	0.74	-0.58	0.11	0.12	0.75		MEME
	ID	BAYAU	BAYAR	AMPL	IO	KIN	EURK	EMBC	KOD	MEME

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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

IO	+ 0.9	ID
KOD	+ 0.87	ID
MEME	+ 0.83	ID
KOD	+ 0.79	IO
MEME	+ 0.75	KOD
MEME	+ 0.74	IO

High negative correlations

KIN	- 0.7	BAYAR
KIN	- 0.68	BAYAU
KOD	- 0.66	KIN
MEME	- 0.58	KIN
KIN	- 0.5	ID
EMBC	- 0.46	BAYAU

Risk-Adjusted Indicators

There is a big difference between Short-term Mutual Fund performing well and Short-term 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 Short-term 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
ID	3.84	0.90	0.16	1.45	3.99	(5.08)	7.89	(6.67)	20.54
BAYAU	0.15	0.04	(0.18)	(0.34)	0.00	(1.26)	0.10	(0.19)	4.63
BAYAR	6.24	0.68	0.04	0.61	7.62	(16.72)	20.00	(17.39)	84.91
AMPL	4.39	0.56	0.08	19.63	5.25	(5.10)	10.34	(8.00)	31.98
IO	5.45	1.36	0.22	1.15	5.24	(6.57)	13.49	(7.35)	30.64
KIN	4.80	(0.15)	0.00	0.43	0.00	0.00	9.09	(9.09)	30.95
EURK	0.05	0.01	(0.92)	(0.31)	0.00	(0.14)	0.20	(0.10)	0.40
EMBC	2.72	0.32	0.13	0.31	2.90	(2.93)	6.55	(6.00)	19.66
KOD	3.14	1.20	0.44	0.67	2.26	(4.21)	9.70	(4.87)	18.79
MEME	5.40	0.79	0.14	0.55	5.20	(6.96)	13.73	(7.59)	39.36

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