Short-term Income Correlations

Mutual Funds . USA . 
Fund . Short Term Income Fund
PSTPX Fund  USD 10.16  0.01  0.1%   
The current 90-days correlation between Short Term Income and Massmutual Premier Diversified is 0.04 (i.e., Significant diversification). The correlation of Short-term Income 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 Income Correlation With Market

Very good diversification

The correlation between Short Term Income Fund and DJI is -0.45 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Short Term Income Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Short Term Income 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 persons.

Moving against Short-term Mutual Fund

  0.68PSCIX Palmer Square SsiPairCorr
  0.49PSDSX Palmer Square UltraPairCorr
  0.49VTIAX Vanguard Total InterPairCorr
  0.46VFFSX Vanguard 500 IndexPairCorr
  0.45VTSAX Vanguard Total StockPairCorr
  0.45VFIAX Vanguard 500 IndexPairCorr
  0.45VSTSX Vanguard Total StockPairCorr
  0.45VFINX Vanguard 500 IndexPairCorr
  0.44VTSMX Vanguard Total StockPairCorr
  0.44VSMPX Vanguard Total StockPairCorr
  0.44VITSX Vanguard Total StockPairCorr
  0.43PSYPX Palmer Square IncomePairCorr
  0.43PTSPX Pimco Short TermPairCorr
  0.43MUIIX Ultra Short IncomePairCorr
  0.39MULSX Ultra Short IncomePairCorr
  0.33VBTLX Vanguard Total BondPairCorr
  0.69RACTX American Funds 2020PairCorr
  0.64ANWFX New PerspectivePairCorr
  0.56MTCHX Mfs TechnologyPairCorr
  0.53FRBJX Fidelity Advisor FreedomPairCorr
  0.53FAUTX American Funds 2040PairCorr
  0.5USSPX Sp 500 IndexPairCorr
  0.48PIRMX Pimco Inflation ResponsePairCorr
  0.48FIMYX Federated IntermediatePairCorr
  0.48VWLUX Vanguard Long TermPairCorr
  0.47TCAAX Thrivent ModeratelyPairCorr
  0.45FTAOX American Funds CollegePairCorr
  0.44MIDSX Midas Fund MidasPairCorr
  0.44NMIAX Columbia Large CapPairCorr
  0.4RYMPX Precious MetalsPairCorr
  0.39GSIYX Goldman Sachs GqgPairCorr
  0.36PDPAX Virtus AlternativesPairCorr
  0.65KAGIX Kensington Dynamic GrowthPairCorr
  0.64TSMLX Tiaa Cref LifestylePairCorr
  0.6FSNLX Fidelity Freedom 2015PairCorr
  0.55FSELX Fidelity Select SemiPairCorr
  0.54APDTX Artisan ThematicPairCorr
  0.54FAITX American Funds 2050PairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Short-term Mutual Fund performing well and Short-term Income 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 Income'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.

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