California Municipal Correlations

SRCMX Fund

USD 9.93 0.01 0.10%

The current 90-days correlation between California Municipal and Ishares Municipal Bond is 0.14 (i.e., Average diversification). The correlation of California Municipal 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.

California Municipal Correlation With Market

Very good diversification

The correlation between California Municipal Fund and DJI is -0.29 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding California Municipal Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in California Municipal 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 population.

Moving together with California Mutual Fund

0.7	PFIJX	Strategic Asset Mana	Pair Corr
0.68	PFILX	Strategic Asset Mana	Pair Corr
0.7	PFIFX	Strategic Asset Mana	Pair Corr
0.69	PFIGX	Strategic Asset Mana	Pair Corr
0.72	PFIPX	Strategic Asset Mana	Pair Corr
0.72	SAUPX	Strategic Asset Mana	Pair Corr
0.77	PGBAX	Global Diversified Income	Pair Corr
0.75	PGBLX	Global Diversified Income	Pair Corr
0.76	PGDCX	Global Diversified Income	Pair Corr
0.76	PGDIX	Global Diversified Income	Pair Corr
0.82	STCCX	Short Term Income	Pair Corr
0.61	PGRUX	Global Real Estate	Pair Corr
0.61	PGSLX	Principal Global Sus	Pair Corr
0.61	PGRKX	Global Real Estate	Pair Corr
0.63	PYHIX	High Yield Fund	Pair Corr

Related Correlations Analysis

	BIDPX	MSTPX	PRFHX	TWTIX	NEITX	BBINX
BIDPX		0.88	0.88	0.92	0.86	0.91	BIDPX
MSTPX	0.88		0.95	0.93	0.9	0.92	MSTPX
PRFHX	0.88	0.95		0.95	0.85	0.94	PRFHX
TWTIX	0.92	0.93	0.95		0.96	1.0	TWTIX
NEITX	0.86	0.9	0.85	0.96		0.95	NEITX
BBINX	0.91	0.92	0.94	1.0	0.95		BBINX
	BIDPX	MSTPX	PRFHX	TWTIX	NEITX	BBINX

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Risk-Adjusted Indicators

There is a big difference between California Mutual Fund performing well and California Municipal 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 California Municipal'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
BIDPX	0.14	0.00	(0.31)	0.06	0.21	(0.18)	0.27	(0.45)	1.36
MSTPX	0.11	0.01	(0.29)	(0.09)	0.14	(0.18)	0.30	(0.30)	1.10
PRFHX	0.15	0.02	(0.24)	(0.10)	0.21	(0.23)	0.44	(0.44)	1.61
TWTIX	0.11	0.01	(0.34)	0.00	0.16	(0.17)	0.28	(0.28)	1.12
NEITX	0.17	0.01	(0.22)	(0.02)	0.26	(0.28)	0.43	(0.32)	1.62
BBINX	0.12	0.01	(0.41)	0.01	0.15	(0.19)	0.29	(0.29)	1.07

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California Municipal Correlations

California Municipal Correlation With Market

Very good diversification

Moving together with California Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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