Bond Fund Correlations
| CFAEX Fund | USD 11.32 0.04 0.35% |
The current 90-days correlation between Bond Fund and Old Westbury Short Term is 0.84 (i.e., Very poor 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
Good diversification
The correlation between Bond Fund Of and DJI is -0.2 (i.e., Good 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.
Bond |
Moving together with Bond Mutual Fund
| 0.77 | AMECX | Income Fund | PairCorr |
| 0.63 | RNEBX | New World Fund | PairCorr |
| 0.7 | AMFCX | American Mutual | PairCorr |
| 0.71 | AMFFX | American Mutual | PairCorr |
| 0.78 | RNCCX | American Funds Income | PairCorr |
| 0.72 | FPPPX | American Funds Prese | PairCorr |
| 0.82 | AMEFX | Income Fund | PairCorr |
| 0.95 | AMHIX | American High Income | PairCorr |
| 0.89 | TEBCX | Tax Exempt Bond | PairCorr |
| 0.88 | TECCX | Tax Exempt Fund | PairCorr |
| 0.93 | TEAFX | Tax Exempt Bond | PairCorr |
| 0.82 | FPTPX | American Funds Conse | PairCorr |
| 0.9 | TECFX | Tax Exempt Fund | PairCorr |
| 0.92 | TEFEX | Tax Exempt Fund | PairCorr |
| 0.67 | AMRMX | American Mutual | PairCorr |
| 0.71 | AMRFX | American Mutual | PairCorr |
| 0.74 | RNRPX | American Funds Retirement | PairCorr |
| 0.93 | AMUSX | Us Government Securities | PairCorr |
| 0.92 | TEPCX | American Funds Tax | PairCorr |
| 0.88 | TEPAX | American Funds Tax | PairCorr |
| 0.91 | TEPFX | American Funds Tax | PairCorr |
| 0.64 | RNWFX | New World Fund | PairCorr |
Related Correlations Analysis
| 0.93 | 0.96 | 0.78 | 0.96 | OWSBX | ||
| 0.93 | 0.96 | 0.85 | 0.92 | MWUIX | ||
| 0.96 | 0.96 | 0.8 | 0.95 | CDICX | ||
| 0.78 | 0.85 | 0.8 | 0.85 | ATOAX | ||
| 0.96 | 0.92 | 0.95 | 0.85 | PRWBX | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| OWSBX | 0.07 | 0.01 | 0.62 | (0.42) | 0.00 | 0.20 | 0.40 | |||
| MWUIX | 0.08 | 0.02 | 0.00 | 0.93 | 0.00 | 0.24 | 0.98 | |||
| CDICX | 0.08 | 0.02 | 0.65 | 0.78 | 0.00 | 0.26 | 0.65 | |||
| ATOAX | 0.02 | 0.00 | 0.00 | (0.49) | 0.00 | 0.00 | 0.30 | |||
| PRWBX | 0.09 | 0.01 | 0.35 | (0.42) | 0.00 | 0.22 | 0.66 |