Total Return Correlations

MBFIX Fund

USD 11.29 0.01 0.09%

The current 90-days correlation between Total Return Bond and Mfs Technology Fund is 0.05 (i.e., Significant diversification). The correlation of Total Return 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.

Total Return Correlation With Market

Poor diversification

The correlation between Total Return Bond and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Total Return Bond and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Total Return Bond. 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 gross domestic product.

Moving together with Total Mutual Fund

0.77	DHICX	Wells Fargo Advantage	Pair Corr
0.77	VMPAX	Wells Fargo Advantage	Pair Corr
0.71	SADAX	Wells Fargo Ultra	Pair Corr
0.71	SADIX	Wells Fargo Ultra	Pair Corr
0.71	EMGNX	Wells Fargo Emerging	Pair Corr
0.69	EMGAX	Wells Fargo Emerging	Pair Corr
0.76	SSHIX	Wells Fargo Short	Pair Corr
0.71	WABIX	Wells Fargo Advantage	Pair Corr
0.69	SSTHX	Wells Fargo Short	Pair Corr
0.74	SSTVX	Wells Fargo Short	Pair Corr
0.74	WSBIX	Short Term Municipal	Pair Corr
0.7	WARAX	Wells Fargo Advantage	Pair Corr
0.7	WARCX	Wells Fargo Advantage	Pair Corr
0.78	WSGIX	Wells Fargo Short	Pair Corr
0.75	WSIAX	Wells Fargo Strategic	Pair Corr
0.78	WSINX	Wells Fargo Strategic	Pair Corr
0.75	WSMAX	Short Term Municipal	Pair Corr
0.74	WSSCX	Short Term Municipal	Pair Corr
0.77	STRIX	Wells Fargo Advantage	Pair Corr
0.88	STYAX	Wells Fargo Income	Pair Corr
0.69	STYIX	Wells Fargo Short	Pair Corr
0.8	SCTAX	California Tax Free	Pair Corr
0.78	SCTCX	California Tax Free	Pair Corr
0.67	SCVAX	Small Pany Value	Pair Corr
0.68	SCVNX	Small Pany Value	Pair Corr
0.78	WCAFX	Wealthbuilder Conservative	Pair Corr
0.82	WCCFX	Wealthbuilder Conservative	Pair Corr
0.67	APSPX	Allspring Managed Acct	Pair Corr
0.89	MNTRX	Total Return Bond	Pair Corr
0.82	WCYFX	Wells Fargo Wealthbuilder	Pair Corr
0.7	WUSNX	Allspring Ultra Short	Pair Corr
0.72	IPBAX	Inflation Protected	Pair Corr
0.72	IPBNX	Wells Fargo Real	Pair Corr

Moving against Total Mutual Fund

0.49

STNFX

Wells Fargo Large

Pair Corr

Related Correlations Analysis

	DRGTX	DTEYX	HTECX	RYCFX	PGKCX	TEPIX	MTCCX
DRGTX		0.72	0.58	0.41	0.74	0.95	0.82	DRGTX
DTEYX	0.72		0.95	0.76	0.76	0.77	0.31	DTEYX
HTECX	0.58	0.95		0.74	0.61	0.63	0.2	HTECX
RYCFX	0.41	0.76	0.74		0.61	0.43	-0.16	RYCFX
PGKCX	0.74	0.76	0.61	0.61		0.8	0.39	PGKCX
TEPIX	0.95	0.77	0.63	0.43	0.8		0.75	TEPIX
MTCCX	0.82	0.31	0.2	-0.16	0.39	0.75		MTCCX
	DRGTX	DTEYX	HTECX	RYCFX	PGKCX	TEPIX	MTCCX

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

TEPIX	+ 0.95	DRGTX
HTECX	+ 0.95	DTEYX
MTCCX	+ 0.82	DRGTX
TEPIX	+ 0.8	PGKCX
TEPIX	+ 0.77	DTEYX
RYCFX	+ 0.76	DTEYX

High negative correlations

MTCCX

- 0.16

RYCFX

Risk-Adjusted Indicators

There is a big difference between Total Mutual Fund performing well and Total Return 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 Total Return'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
DRGTX	1.09	(0.12)	0.00	(0.08)	0.00	0.00	1.97	(2.86)	6.96
DTEYX	1.22	0.08	0.05	0.13	1.60	(1.17)	2.19	(2.47)	13.22
HTECX	1.40	0.33	0.25	0.35	0.99	(1.75)	1.63	(2.28)	30.60
RYCFX	1.37	0.50	0.41	3.84	0.55	(1.66)	2.56	(1.50)	29.11
PGKCX	1.14	(0.01)	(0.03)	0.60	1.72	(0.99)	1.96	(2.78)	11.68
TEPIX	1.64	(0.13)	0.00	(0.04)	0.00	0.00	2.39	(3.98)	11.00
MTCCX	1.06	(0.17)	0.00	(0.12)	0.00	0.00	1.84	(2.76)	6.27

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