Short Term Correlations

CFSTX Fund

USD 16.48 0.02 0.12%

The correlation of Short Term 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 Correlation With Market

Significant diversification

The correlation between The Short Term and DJI is 0.06 (i.e., Significant 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 persons.

Moving together with Short Mutual Fund

0.66	CFAGX	Midcap Growth	Pair Corr
0.68	CFGRX	Growth Fund	Pair Corr
0.75	CFMOX	Missouri Tax	Pair Corr
0.68	CFMVX	Commerce Midcap Value	Pair Corr
0.73	CFVLX	Value Fund	Pair Corr
0.97	VFIRX	Vanguard Short Term	Pair Corr
0.97	VFISX	Vanguard Short Term	Pair Corr
0.85	VSBIX	Vanguard Short Term	Pair Corr
0.99	VSGDX	Vanguard Short Term	Pair Corr
0.98	VSGBX	Vanguard Short Term	Pair Corr
0.96	FUMBX	Fidelity Short Term	Pair Corr
0.96	ECLDX	Eaton Vance Short	Pair Corr
0.96	EASDX	Eaton Vance Short	Pair Corr
0.66	RSNRX	Victory Global Natural	Pair Corr
0.66	RSNYX	Victory Global Natural	Pair Corr
0.66	RGNCX	Victory Global Natural	Pair Corr
0.81	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.81	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.84	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.81	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.81	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.87	WEFIX	Short Duration Income	Pair Corr
0.83	JAFDX	Jafdx	Pair Corr
0.7	VWITX	Vanguard Intermediate	Pair Corr
0.92	CUSDX	Six Circles Ultra	Pair Corr
0.75	WWICX	Westwood Income Oppo	Pair Corr
0.73	VUSXX	Vanguard Treasury Money	Pair Corr
0.72	PHDCX	High Yield Fund	Pair Corr

Related Correlations Analysis

	IVMXX	AIEXX	ELMXX	TLMXX	0P000070L2	PBMXX
IVMXX		0.0	0.0	0.0	0.0	0.0	IVMXX
AIEXX	0.0		0.0	0.0	0.0	0.0	AIEXX
ELMXX	0.0	0.0		0.0	0.0	0.0	ELMXX
TLMXX	0.0	0.0	0.0		0.0	0.0	TLMXX
0P000070L2	0.0	0.0	0.0	0.0		0.0	0P000070L2
PBMXX	0.0	0.0	0.0	0.0	0.0		PBMXX
	IVMXX	AIEXX	ELMXX	TLMXX	0P000070L2	PBMXX

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

AIEXX	+ 0.0	IVMXX
ELMXX	+ 0.0	IVMXX
TLMXX	+ 0.0	IVMXX
0P000070L2	+ 0.0	IVMXX
PBMXX	+ 0.0	IVMXX
ELMXX	+ 0.0	AIEXX

High negative correlations

PBMXX	- 0.0	0P000070L2
PBMXX	- 0.0	TLMXX
0P000070L2	- 0.0	TLMXX
PBMXX	- 0.0	ELMXX
0P000070L2	- 0.0	ELMXX
TLMXX	- 0.0	ELMXX

Risk-Adjusted Indicators

There is a big difference between Short Mutual Fund performing well and Short Term 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'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	Treynor Ratio	Potential Upside	Maximum Drawdown
IVMXX	0.00	0.00	0.00	0.00	0.00
AIEXX	0.00	0.00	0.00	0.00	0.00
ELMXX	0.00	0.00	0.00	0.00	0.00
TLMXX	0.00	0.00	0.00	0.00	0.00
0P000070L2	0.04	0.01	1.08	0.30	0.40
PBMXX	0.00	0.00	0.00	0.00	0.00

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