Bond Fund Correlations

CFAFX Fund

USD 11.29 0.01 0.09%

The current 90-days correlation between Bond Fund and Merck Company is 0.31 (i.e., Weak 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 -0.15 (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.

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 various price indices.

Moving together with Bond Mutual Fund

1.0	CFAEX	Bond Fund	Pair Corr
1.0	CFACX	Bond Fund	Pair Corr
1.0	CFAAX	Bond Fund	Pair Corr
1.0	BFAFX	Bond Fund	Pair Corr
1.0	BFACX	Bond Fund	Pair Corr
1.0	ABNDX	Bond Fund	Pair Corr
1.0	FFBOX	American Funds	Pair Corr
0.87	FIBLX	American Funds Inflation	Pair Corr
0.97	VBTLX	Vanguard Total Bond	Pair Corr
1.0	VBMFX	Vanguard Total Bond	Pair Corr
1.0	VBTIX	Vanguard Total Bond	Pair Corr
1.0	VTBSX	Vanguard Total Bond	Pair Corr
1.0	VTBIX	Vanguard Total Bond	Pair Corr
1.0	VTBNX	Vanguard Total Bond	Pair Corr
0.73	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.91	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Moving against Bond Mutual Fund

0.71	VFIAX	Vanguard 500 Index	Pair Corr
0.69	VTSAX	Vanguard Total Stock	Pair Corr
0.69	VTSMX	Vanguard Total Stock	Pair Corr
0.39	RWBEX	Capital World Growth	Pair Corr
0.37	RWIGX	Capital World Growth	Pair Corr
0.36	RWIHX	Capital World Growth	Pair Corr
0.35	RWICX	Capital World Growth	Pair Corr
0.34	RWIBX	Capital World Growth	Pair Corr
0.34	RWIAX	Capital World Growth	Pair Corr
0.85	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.85	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.83	BAC	Bank of America Aggressive Push	Pair Corr
0.81	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.77	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.71	VFINX	Vanguard 500 Index	Pair Corr
0.69	VSMPX	Vanguard Total Stock	Pair Corr
0.69	VSTSX	Vanguard Total Stock	Pair Corr
0.69	VITSX	Vanguard Total Stock	Pair Corr
0.69	VFFSX	Vanguard 500 Index	Pair Corr
0.69	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.67	DIS	Walt Disney Aggressive Push	Pair Corr
0.59	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.56	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr

Related Correlations Analysis

	MRK	PHVS	EAT	AA	EURL	COLL	OWL	AMMX	FQIFX	GCV
MRK		-0.58	-0.95	-0.84	0.9	0.84	-0.86	-0.13	0.06	-0.01	MRK
PHVS	-0.58		0.62	0.53	-0.56	-0.52	0.61	-0.23	-0.19	0.06	PHVS
EAT	-0.95	0.62		0.87	-0.92	-0.87	0.87	0.0	-0.01	0.13	EAT
AA	-0.84	0.53	0.87		-0.66	-0.58	0.94	-0.05	0.34	-0.22	AA
EURL	0.9	-0.56	-0.92	-0.66		0.91	-0.72	-0.07	0.23	-0.37	EURL
COLL	0.84	-0.52	-0.87	-0.58	0.91		-0.61	-0.11	0.32	-0.35	COLL
OWL	-0.86	0.61	0.87	0.94	-0.72	-0.61		0.02	0.28	-0.17	OWL
AMMX	-0.13	-0.23	0.0	-0.05	-0.07	-0.11	0.02		-0.02	-0.11	AMMX
FQIFX	0.06	-0.19	-0.01	0.34	0.23	0.32	0.28	-0.02		-0.49	FQIFX
GCV	-0.01	0.06	0.13	-0.22	-0.37	-0.35	-0.17	-0.11	-0.49		GCV
	MRK	PHVS	EAT	AA	EURL	COLL	OWL	AMMX	FQIFX	GCV

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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

OWL	+ 0.94	AA
COLL	+ 0.91	EURL
EURL	+ 0.9	MRK
AA	+ 0.87	EAT
OWL	+ 0.87	EAT
COLL	+ 0.84	MRK

High negative correlations

EAT	- 0.95	MRK
EURL	- 0.92	EAT
COLL	- 0.87	EAT
OWL	- 0.86	MRK
AA	- 0.84	MRK
OWL	- 0.72	EURL

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
MRK	0.89	(0.23)	0.00	(0.76)	0.00	0.00	2.00	(2.13)	4.89
PHVS	2.94	0.25	0.09	0.29	2.99	(3.63)	7.76	(6.02)	21.41
EAT	1.87	0.79	0.46	0.75	1.25	(2.44)	5.04	(2.48)	11.91
AA	2.45	0.29	0.14	0.27	2.61	(2.76)	6.10	(5.76)	14.99
EURL	2.00	(0.56)	0.00	(0.38)	0.00	0.00	2.74	(5.13)	12.68
COLL	1.88	(0.41)	0.00	(0.22)	0.00	0.00	3.23	(4.47)	12.29
OWL	1.62	0.30	0.21	0.28	1.57	(1.86)	3.66	(2.80)	12.59
AMMX	3.48	(0.41)	0.00	0.41	0.00	0.00	5.71	(7.14)	58.33
FQIFX	0.31	0.00	(0.26)	0.24	0.38	(0.33)	0.67	(0.77)	1.81
GCV	0.90	0.09	0.00	0.42	1.23	(0.93)	1.87	(1.80)	7.45

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