Medium-duration Bond Correlations

GMDYX Fund

USD 12.56 0.02 0.16%

The current 90-days correlation between Medium Duration Bond and Aig Government Money is 0.62 (i.e., Poor diversification). The correlation of Medium-duration Bond 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.

Medium-duration Bond Correlation With Market

Significant diversification

The correlation between Medium Duration Bond Instituti and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Medium Duration Bond Instituti and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Medium Duration Bond Institutional. 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 manufacturing.

Moving together with Medium-duration Mutual Fund

0.81	GCOZX	Growth Allocation	Pair Corr
0.63	GEQYX	Equity Index Institu	Pair Corr
0.66	GEQZX	Equity Index Investor	Pair Corr
0.85	GFIZX	Conservative Allocation	Pair Corr
0.79	GGBZX	Aggressive Allocation	Pair Corr
0.89	GGBEX	Global Bond Fund	Pair Corr
0.91	GGBFX	Global Bond Fund	Pair Corr
0.86	GGIZX	Balanced Allocation	Pair Corr
0.73	GGRYX	Growth Allocation	Pair Corr
0.62	GIIYX	International Equity	Pair Corr
0.91	GMDZX	Medium Duration Bond	Pair Corr
0.98	GMBYX	Guidestone Funds	Pair Corr
0.98	GMBZX	Guidestone Funds	Pair Corr
0.71	GMFZX	Mydestination 2045	Pair Corr
0.62	GMHYX	Mydestination 2035	Pair Corr
0.61	GMHZX	Mydestination 2035	Pair Corr
0.73	GMGYX	Mydestination 2055	Pair Corr
0.73	GMGZX	Mydestination 2055	Pair Corr

Related Correlations Analysis

	SMAAX	UGSDX	JGBZX	RYAQX	AUGAX	DPIGX	PYUSX	WMBDX
SMAAX		-0.34	0.87	-0.7	0.86	0.38	0.57	0.76	SMAAX
UGSDX	-0.34		-0.45	0.68	-0.45	0.46	0.29	-0.37	UGSDX
JGBZX	0.87	-0.45		-0.89	0.99	0.2	0.49	0.91	JGBZX
RYAQX	-0.7	0.68	-0.89		-0.87	0.22	-0.07	-0.81	RYAQX
AUGAX	0.86	-0.45	0.99	-0.87		0.23	0.52	0.9	AUGAX
DPIGX	0.38	0.46	0.2	0.22	0.23		0.92	0.19	DPIGX
PYUSX	0.57	0.29	0.49	-0.07	0.52	0.92		0.44	PYUSX
WMBDX	0.76	-0.37	0.91	-0.81	0.9	0.19	0.44		WMBDX
	SMAAX	UGSDX	JGBZX	RYAQX	AUGAX	DPIGX	PYUSX	WMBDX

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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

AUGAX	+ 0.99	JGBZX
PYUSX	+ 0.92	DPIGX
WMBDX	+ 0.91	JGBZX
WMBDX	+ 0.9	AUGAX
JGBZX	+ 0.87	SMAAX
AUGAX	+ 0.86	SMAAX

High negative correlations

RYAQX	- 0.89	JGBZX
AUGAX	- 0.87	RYAQX
WMBDX	- 0.81	RYAQX
RYAQX	- 0.7	SMAAX
AUGAX	- 0.45	UGSDX
JGBZX	- 0.45	UGSDX

Risk-Adjusted Indicators

There is a big difference between Medium-duration Mutual Fund performing well and Medium-duration Bond 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 Medium-duration Bond'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
SMAAX	0.15	0.00	(0.27)	(0.24)	0.22	(0.18)	0.40	(0.39)	1.40
UGSDX	0.03	0.00	0.00	0.04	0.00	0.00	0.00	0.00	1.03
JGBZX	0.23	(0.01)	(0.30)	(0.39)	0.27	(0.28)	0.64	(0.53)	1.38
RYAQX	0.67	0.07	(0.03)	(0.50)	0.80	(0.73)	1.44	(1.49)	5.22
AUGAX	0.32	(0.01)	(0.22)	(1.91)	0.39	(0.39)	0.97	(0.91)	2.16
DPIGX	0.05	0.00	(0.69)	(0.07)	0.00	(0.15)	0.21	(0.11)	0.42
PYUSX	0.11	0.00	(0.53)	(0.12)	0.04	(0.18)	0.32	(0.21)	0.75
WMBDX	0.25	(0.01)	(0.24)	(0.01)	0.28	(0.33)	0.77	(0.64)	1.67

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