The Short Correlations

CFSTX Fund

USD 16.56 0.02 0.12%

The current 90-days correlation between Short Term and The Value Fund is -0.01 (i.e., Good diversification). The correlation of The Short 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.

The Short Correlation With Market

Very poor diversification

The correlation between The Short Term and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Short Term 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 The Short Term. 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 The Mutual Fund

0.93	KTXIX	Kansas Tax	Pair Corr
0.9	CFBNX	Bond Fund	Pair Corr
0.94	CFMOX	Missouri Tax	Pair Corr
0.94	CFNLX	National Tax	Pair Corr
0.89	CFMVX	Commerce Midcap Value	Pair Corr
0.92	CFVLX	Value Fund	Pair Corr
0.98	VFIRX	Vanguard Short Term	Pair Corr
0.98	VFISX	Vanguard Short Term	Pair Corr
0.97	VSBIX	Vanguard Short Term	Pair Corr
0.99	VSGBX	Vanguard Short Term	Pair Corr
0.99	VSGDX	Vanguard Short Term	Pair Corr
0.97	FUMBX	Fidelity Short Term	Pair Corr
0.94	ECLDX	Eaton Vance Short	Pair Corr
0.95	EALDX	Eaton Vance Short	Pair Corr
0.95	EILDX	Eaton Vance Short	Pair Corr
0.95	EASDX	Eaton Vance Short	Pair Corr
0.73	SMPIX	Semiconductor Ultrasector Steady Growth	Pair Corr
0.74	SMPSX	Semiconductor Ultrasector Steady Growth	Pair Corr
0.87	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.86	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.86	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.86	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.86	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.86	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.81	RSNYX	Victory Global Natural	Pair Corr
0.82	RSNRX	Victory Global Natural	Pair Corr
0.91	AMFFX	American Mutual	Pair Corr
0.92	MEIKX	Mfs Value Fund	Pair Corr
0.92	ISKIX	Voya Index Solution	Pair Corr
0.93	JSOCX	Jpmorgan Strategic Income	Pair Corr
0.89	BRLVX	American Beacon Bridgeway	Pair Corr
0.94	ITACX	Transamerica Short Term	Pair Corr
0.78	AALGX	Thrivent Large Cap	Pair Corr
0.91	FOTKX	Fidelity Freedom 2010	Pair Corr
0.79	FEGIX	First Eagle Gold Steady Growth	Pair Corr

Moving against The Mutual Fund

0.54

CFGRX

Growth Fund

Pair Corr

Related Correlations Analysis

	KTXIX	CFAGX	CFBNX	CFGRX	CFMOX	CFNLX	CFMVX	CFVLX
KTXIX		-0.14	0.87	-0.63	0.99	0.99	0.91	0.97	KTXIX
CFAGX	-0.14		0.01	0.64	-0.18	-0.18	-0.04	-0.16	CFAGX
CFBNX	0.87	0.01		-0.51	0.87	0.86	0.75	0.83	CFBNX
CFGRX	-0.63	0.64	-0.51		-0.64	-0.64	-0.46	-0.58	CFGRX
CFMOX	0.99	-0.18	0.87	-0.64		1.0	0.9	0.97	CFMOX
CFNLX	0.99	-0.18	0.86	-0.64	1.0		0.9	0.97	CFNLX
CFMVX	0.91	-0.04	0.75	-0.46	0.9	0.9		0.95	CFMVX
CFVLX	0.97	-0.16	0.83	-0.58	0.97	0.97	0.95		CFVLX
	KTXIX	CFAGX	CFBNX	CFGRX	CFMOX	CFNLX	CFMVX	CFVLX

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

CFNLX	+ 1.0	CFMOX
CFMOX	+ 0.99	KTXIX
CFNLX	+ 0.99	KTXIX
CFVLX	+ 0.97	KTXIX
CFVLX	+ 0.97	CFMOX
CFVLX	+ 0.97	CFNLX

High negative correlations

CFNLX	- 0.64	CFGRX
CFMOX	- 0.64	CFGRX
CFGRX	- 0.63	KTXIX
CFVLX	- 0.58	CFGRX
CFGRX	- 0.51	CFBNX
CFMVX	- 0.46	CFGRX

Risk-Adjusted Indicators

There is a big difference between The Mutual Fund performing well and The Short 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 The Short'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
KTXIX	0.05	0.02	(0.37)	4.42	0.00	(0.10)	0.22	(0.05)	0.49
CFAGX	0.69	0.01	(0.07)	(0.01)	0.92	(0.68)	1.33	(1.62)	5.04
CFBNX	0.13	0.01	(0.25)	0.28	0.00	(0.17)	0.28	(0.27)	0.66
CFGRX	0.63	(0.04)	0.00	0.32	0.00	0.00	0.99	(1.58)	4.29
CFMOX	0.06	0.02	(0.46)	(1.89)	0.00	(0.10)	0.21	(0.05)	0.37
CFNLX	0.06	0.02	(0.32)	(2.58)	0.00	(0.10)	0.21	(0.05)	0.47
CFMVX	0.67	0.20	0.29	0.32	0.21	(0.83)	1.66	(1.07)	6.03
CFVLX	0.50	0.12	0.16	0.25	0.35	(0.58)	1.09	(1.08)	2.71

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