Intermediate Bond Correlations

IBFFX Fund

USD 12.40 0.02 0.16%

The current 90-days correlation between Intermediate Bond and Bond Fund Of is 0.92 (i.e., Almost no diversification). The correlation of Intermediate 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.

Intermediate Bond Correlation With Market

Significant diversification

The correlation between Intermediate Bond Fund and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Intermediate Bond Fund 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 Intermediate Bond Fund. 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 census.

Moving together with Intermediate Mutual Fund

0.67	FPPPX	American Funds Prese	Pair Corr
0.69	AMHIX	American High Income	Pair Corr
0.74	TECCX	Tax Exempt Fund	Pair Corr
0.77	TECFX	Tax Exempt Fund	Pair Corr
0.89	AMUSX	Us Government Securities	Pair Corr
0.69	TEPFX	American Funds Tax	Pair Corr
0.9	CENEX	American Funds Lege	Pair Corr
0.91	CENFX	American Funds Lege	Pair Corr
0.87	CFAAX	Bond Fund	Pair Corr
0.72	FAFWX	American Funds Retirement	Pair Corr

Related Correlations Analysis

	BFAFX	AHTFX	SCWFX	WBFFX	WSHFX
BFAFX		0.38	0.86	0.83	0.77	BFAFX
AHTFX	0.38		0.41	-0.14	0.18	AHTFX
SCWFX	0.86	0.41		0.73	0.91	SCWFX
WBFFX	0.83	-0.14	0.73		0.78	WBFFX
WSHFX	0.77	0.18	0.91	0.78		WSHFX
	BFAFX	AHTFX	SCWFX	WBFFX	WSHFX

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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

WSHFX	+ 0.91	SCWFX
SCWFX	+ 0.86	BFAFX
WBFFX	+ 0.83	BFAFX
WSHFX	+ 0.78	WBFFX
WSHFX	+ 0.77	BFAFX
WBFFX	+ 0.73	SCWFX

High negative correlations

WBFFX

- 0.14

AHTFX

Risk-Adjusted Indicators

There is a big difference between Intermediate Mutual Fund performing well and Intermediate 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 Intermediate 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
BFAFX	0.23	(0.03)	0.00	(0.65)	0.00	0.00	0.62	(0.54)	1.52
AHTFX	0.15	0.02	(0.01)	0.24	0.08	(0.18)	0.51	(0.31)	1.03
SCWFX	0.65	(0.04)	0.00	(0.03)	0.00	0.00	1.28	(1.22)	4.72
WBFFX	0.25	(0.06)	0.00	(1.98)	0.00	0.00	0.56	(0.50)	1.64
WSHFX	0.63	(0.06)	0.00	(0.08)	0.00	0.00	1.09	(1.22)	6.60

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