Short Term Correlations

HCSBX Fund

USD 9.60 0.02 0.21%

The current 90-days correlation between Short Term and Voya High Yield is 0.28 (i.e., Modest diversification). 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

Modest diversification

The correlation between The Short Term Municipal and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Short Term Municipal 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 The Short Term Municipal. 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 bureau of labor statistics.

Moving together with Short Mutual Fund

0.73	VGTSX	Vanguard Total Inter	Pair Corr
0.72	VTIAX	Vanguard Total Inter	Pair Corr
0.61	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.73	HPQ	HP Inc	Pair Corr
0.7	TRV	The Travelers Companies	Pair Corr
0.62	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.84	VZ	Verizon Communications Sell-off Trend	Pair Corr

Moving against Short Mutual Fund

0.57	LFRIX	Floating Rate	Pair Corr
0.55	BA	Boeing Earnings Call This Week	Pair Corr
0.38	AXP	American Express Earnings Call Tomorrow	Pair Corr
0.36	JPM	JPMorgan Chase Sell-off Trend	Pair Corr

Related Correlations Analysis

	IPIMX	BUFHX	RIMOX	DNHYX	JYHRX
IPIMX		0.8	0.63	0.91	0.94	IPIMX
BUFHX	0.8		0.65	0.88	0.84	BUFHX
RIMOX	0.63	0.65		0.64	0.6	RIMOX
DNHYX	0.91	0.88	0.64		0.94	DNHYX
JYHRX	0.94	0.84	0.6	0.94		JYHRX
	IPIMX	BUFHX	RIMOX	DNHYX	JYHRX

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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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
IPIMX	0.14	0.01	(0.07)	0.34	0.08	(0.20)	0.35	(0.23)	1.15
BUFHX	0.09	0.03	0.00	1.92	0.00	(0.13)	0.19	(0.09)	0.66
RIMOX	0.06	0.00	(0.14)	0.30	0.00	(0.08)	0.15	(0.10)	0.57
DNHYX	0.14	0.02	(0.04)	0.48	0.06	(0.18)	0.23	(0.23)	1.04
JYHRX	0.12	0.01	(0.06)	0.22	0.00	(0.19)	0.31	(0.30)	0.77

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