Short-term Bond Correlations

RAMAX Fund

USD 9.44 0.01 0.11%

The current 90-days correlation between Short Term Bond and Transamerica Financial Life is -0.06 (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

Very poor diversification

The correlation between Short Term Bond Fund and DJI is 0.81 (i.e., Very poor 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 nation.

Moving together with Short-term Mutual Fund

0.82	RNEBX	New World Fund	Pair Corr
0.88	RNCCX	American Funds Income	Pair Corr
0.91	FPPPX	American Funds Prese	Pair Corr
0.88	AMEFX	Income Fund	Pair Corr
0.86	RNGGX	New Economy Fund	Pair Corr
0.86	RNGFX	New Economy Fund	Pair Corr
0.86	RNGHX	New Economy Fund	Pair Corr
0.86	RNGCX	New Economy Fund	Pair Corr
0.81	TEAFX	Tax Exempt Bond	Pair Corr
0.88	FPTPX	American Funds Conse	Pair Corr
0.75	TEFEX	Tax Exempt Fund	Pair Corr
0.77	RNNEX	New Economy Fund	Pair Corr
0.82	RNPAX	New Perspective	Pair Corr
0.82	RNPHX	New Perspective	Pair Corr
0.82	RNPGX	New Perspective	Pair Corr
0.82	RNPCX	New Perspective	Pair Corr
0.82	RNPFX	New Perspective	Pair Corr
0.88	AMRFX	American Mutual	Pair Corr
0.87	RNRPX	American Funds Retirement	Pair Corr
0.82	RNWEX	New World Fund	Pair Corr
0.82	RNWHX	New World Fund	Pair Corr
0.82	RNWGX	New World Fund	Pair Corr
0.71	CDWCX	American Funds Developing	Pair Corr
0.79	ANBGX	American Funds Strategic	Pair Corr
0.83	ANBFX	American Funds Strategic	Pair Corr
0.82	TFEBX	Tax Exempt Bond	Pair Corr
0.89	CENEX	American Funds Lege	Pair Corr
0.92	CENFX	American Funds Lege	Pair Corr
0.84	DITFX	American Funds 2050	Pair Corr
0.82	ANWFX	New Perspective	Pair Corr
0.83	CEUCX	Europacific Growth	Pair Corr
0.81	CEUAX	Europacific Growth	Pair Corr
0.87	CWIEX	Capital World Growth	Pair Corr
0.87	CWIFX	Capital World Growth	Pair Corr
0.87	CWICX	Capital World Growth	Pair Corr
0.85	CWIAX	Capital World Growth	Pair Corr
0.83	CEUFX	Europacific Growth	Pair Corr
0.83	CEUEX	Europacific Growth	Pair Corr
0.86	CWMEX	Washington Mutual	Pair Corr
0.85	CWMAX	Washington Mutual	Pair Corr

Related Correlations Analysis

	BTO	SBFAX	PFSQX	FTIXX	PUFCX	IAAEX
BTO		0.87	0.84	0.0	0.8	0.8	BTO
SBFAX	0.87		0.93	0.0	0.91	0.86	SBFAX
PFSQX	0.84	0.93		0.0	0.97	0.94	PFSQX
FTIXX	0.0	0.0	0.0		0.0	0.0	FTIXX
PUFCX	0.8	0.91	0.97	0.0		0.98	PUFCX
IAAEX	0.8	0.86	0.94	0.0	0.98		IAAEX
	BTO	SBFAX	PFSQX	FTIXX	PUFCX	IAAEX

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

IAAEX	+ 0.98	PUFCX
PUFCX	+ 0.97	PFSQX
IAAEX	+ 0.94	PFSQX
PFSQX	+ 0.93	SBFAX
PUFCX	+ 0.91	SBFAX
SBFAX	+ 0.87	BTO

High negative correlations

IAAEX	- 0.0	FTIXX
PUFCX	- 0.0	FTIXX
FTIXX	- 0.0	PFSQX
FTIXX	- 0.0	SBFAX
FTIXX	- 0.0	BTO

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
BTO	0.87	0.20	0.19	0.23	0.75	(0.98)	2.95	(1.55)	5.37
SBFAX	0.93	0.31	0.36	0.55	0.25	(1.18)	1.70	(1.43)	18.47
PFSQX	0.89	0.17	0.17	0.18	0.73	(1.01)	1.93	(1.75)	12.00
FTIXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PUFCX	0.93	0.25	0.21	0.90	0.67	(1.12)	1.88	(1.77)	15.11
IAAEX	0.94	0.34	0.43	0.75	0.13	(1.21)	1.85	(1.17)	19.44

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