Bond Fund Correlations

CFAAX Fund

USD 11.16 0.02 0.18%

The current 90-days correlation between Bond Fund and Federated Government Income is 0.96 (i.e., Almost no diversification). The correlation of Bond Fund 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.

Bond Fund Correlation With Market

Modest diversification

The correlation between Bond Fund Of and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bond Fund Of 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 Bond Fund Of. 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 nation.

Moving together with Bond Mutual Fund

0.76	AMECX	Income Fund	Pair Corr
0.72	RNEBX	New World Fund	Pair Corr
0.76	AMFCX	American Mutual	Pair Corr
0.77	AMFFX	American Mutual	Pair Corr
0.82	RNCCX	American Funds Income	Pair Corr
0.76	AMEFX	Income Fund	Pair Corr
0.75	RNGGX	New Economy Fund	Pair Corr
0.77	RNGFX	New Economy Fund	Pair Corr
0.76	RNGHX	New Economy Fund	Pair Corr
0.76	RNGBX	New Economy Fund	Pair Corr
0.76	RNGAX	New Economy Fund	Pair Corr
0.76	RNGEX	New Economy Fund	Pair Corr
0.75	RNGCX	New Economy Fund	Pair Corr
0.84	AMHIX	American High Income	Pair Corr
0.86	TEBCX	Tax Exempt Bond	Pair Corr
0.86	TECCX	Tax Exempt Fund	Pair Corr
0.84	TEAFX	Tax Exempt Bond	Pair Corr
0.81	FPTPX	American Funds Conse	Pair Corr
0.84	TECFX	Tax Exempt Fund	Pair Corr
0.84	TEFEX	Tax Exempt Fund	Pair Corr
0.76	RNNEX	New Economy Fund	Pair Corr
0.78	AMPCX	Amcap Fund Class	Pair Corr
0.78	AMPFX	Amcap Fund Class	Pair Corr
0.81	RNPBX	New Perspective	Pair Corr
0.81	RNPAX	New Perspective	Pair Corr
0.8	RNPHX	New Perspective	Pair Corr
0.8	RNPGX	New Perspective	Pair Corr
0.81	RNPCX	New Perspective	Pair Corr
0.8	RNPFX	New Perspective	Pair Corr
0.81	RNPEX	New Perspective	Pair Corr
0.73	AMRMX	American Mutual	Pair Corr
0.73	AMRFX	American Mutual	Pair Corr
0.99	AMUSX	Us Government Securities	Pair Corr
0.81	TEPCX	American Funds Tax	Pair Corr
0.7	TEPAX	American Funds Tax	Pair Corr
0.72	TEPFX	American Funds Tax	Pair Corr
0.72	RNWFX	New World Fund	Pair Corr
0.72	RNWEX	New World Fund	Pair Corr
0.72	RNWHX	New World Fund	Pair Corr

Related Correlations Analysis

	FICMX	RFBAX	BIGLX	SSAGX	IVMXX	DPIGX	PYUSX
FICMX		0.05	0.99	-0.23	0.0	0.13	0.39	FICMX
RFBAX	0.05		0.06	0.9	0.0	0.88	0.79	RFBAX
BIGLX	0.99	0.06		-0.23	0.0	0.13	0.38	BIGLX
SSAGX	-0.23	0.9	-0.23		0.0	0.85	0.66	SSAGX
IVMXX	0.0	0.0	0.0	0.0		0.0	0.0	IVMXX
DPIGX	0.13	0.88	0.13	0.85	0.0		0.91	DPIGX
PYUSX	0.39	0.79	0.38	0.66	0.0	0.91		PYUSX
	FICMX	RFBAX	BIGLX	SSAGX	IVMXX	DPIGX	PYUSX

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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

BIGLX	+ 0.99	FICMX
PYUSX	+ 0.91	DPIGX
SSAGX	+ 0.9	RFBAX
DPIGX	+ 0.88	RFBAX
DPIGX	+ 0.85	SSAGX
PYUSX	+ 0.79	RFBAX

High negative correlations

SSAGX	- 0.23	BIGLX
SSAGX	- 0.23	FICMX
PYUSX	- 0.0	IVMXX
DPIGX	- 0.0	IVMXX
IVMXX	- 0.0	SSAGX
IVMXX	- 0.0	BIGLX

Risk-Adjusted Indicators

There is a big difference between Bond Mutual Fund performing well and Bond Fund 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 Bond Fund'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
FICMX	0.26	(0.02)	0.00	(0.13)	0.00	0.00	0.57	(0.57)	1.72
RFBAX	0.08	0.00	(0.41)	2.77	0.00	(0.23)	0.20	(0.20)	0.79
BIGLX	0.26	(0.02)	0.00	(0.10)	0.00	0.00	0.66	(0.55)	1.78
SSAGX	0.05	0.01	(0.72)	1.40	0.00	(0.19)	0.10	(0.10)	0.51
IVMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DPIGX	0.05	0.00	(0.68)	(0.12)	0.00	(0.15)	0.21	(0.11)	0.42
PYUSX	0.11	0.00	(0.56)	0.08	0.07	(0.18)	0.32	(0.21)	0.75

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