Short-term Bond Correlations

RAAEX Fund

USD 9.50 0.01 0.11%

The current 90-days correlation between Short Term Bond and Transamerica Mlp Energy is -0.09 (i.e., Good diversification). The correlation of Short-term 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.

Short-term Bond Correlation With Market

Good diversification

The correlation between Short Term Bond Fund and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Short Term Bond 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 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 income.

Moving together with Short-term Mutual Fund

0.62

FPPPX

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Pair Corr

Related Correlations Analysis

	TMCLX	AIWEX	XNDPX	SMAPX	PEO	PNRCX	PDX
TMCLX		0.93	0.76	0.96	0.21	0.04	0.87	TMCLX
AIWEX	0.93		0.82	0.92	0.48	0.35	0.71	AIWEX
XNDPX	0.76	0.82		0.8	0.66	0.47	0.49	XNDPX
SMAPX	0.96	0.92	0.8		0.26	0.09	0.85	SMAPX
PEO	0.21	0.48	0.66	0.26		0.91	-0.16	PEO
PNRCX	0.04	0.35	0.47	0.09	0.91		-0.25	PNRCX
PDX	0.87	0.71	0.49	0.85	-0.16	-0.25		PDX
	TMCLX	AIWEX	XNDPX	SMAPX	PEO	PNRCX	PDX

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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

SMAPX	+ 0.96	TMCLX
AIWEX	+ 0.93	TMCLX
SMAPX	+ 0.92	AIWEX
PNRCX	+ 0.91	PEO
PDX	+ 0.87	TMCLX
PDX	+ 0.85	SMAPX

High negative correlations

PDX	- 0.25	PNRCX
PDX	- 0.16	PEO

Risk-Adjusted Indicators

There is a big difference between Short-term Mutual Fund performing well and Short-term 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 Short-term 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
TMCLX	0.82	0.13	0.11	0.54	0.93	(0.92)	1.81	(1.92)	5.58
AIWEX	0.86	0.07	0.06	0.25	0.96	(1.01)	1.97	(1.67)	7.37
XNDPX	0.77	(0.02)	0.00	(0.07)	0.00	0.00	1.72	(2.39)	7.22
SMAPX	0.80	0.10	0.08	0.29	0.96	(0.87)	1.84	(1.83)	5.52
PEO	0.67	(0.07)	0.00	(0.56)	0.00	0.00	1.34	(1.72)	4.73
PNRCX	0.85	(0.08)	0.00	(0.30)	0.00	0.00	1.53	(1.85)	5.63
PDX	0.92	0.15	0.15	0.54	0.75	(1.21)	2.50	(1.48)	6.05

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