Short-term Income Correlations

STCCX Fund

USD 12.17 0.01 0.08%

The current 90-days correlation between Short Term Income and Gabelli Convertible And is 0.03 (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 poor diversification

The correlation between Short Term Income Fund and DJI is 0.82 (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 Income 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 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 unemployment.

Moving together with Short-term Mutual Fund

0.82	SABPX	Strategic Asset Mana	Pair Corr
0.82	SACAX	Strategic Asset Mana	Pair Corr
0.82	SAGPX	Strategic Asset Mana	Pair Corr
0.85	PFIJX	Strategic Asset Mana	Pair Corr
0.85	PFIEX	International Equity	Pair Corr
0.86	PFIFX	Strategic Asset Mana	Pair Corr
0.85	PFISX	International Small Pany	Pair Corr
0.86	PFIPX	Strategic Asset Mana	Pair Corr
0.83	SAIPX	Strategic Asset Mana	Pair Corr
0.85	PFLJX	Principal Lifetime 2050	Pair Corr
0.85	SAUPX	Strategic Asset Mana	Pair Corr
0.9	PFUMX	Finisterre Unconstrained	Pair Corr
0.8	PGBEX	Blue Chip Fund	Pair Corr
0.8	PGBGX	Blue Chip Fund	Pair Corr
0.8	PGBHX	Blue Chip Fund	Pair Corr
0.8	PGDRX	Diversified Real Asset	Pair Corr
0.88	PGLSX	Global Multi Strategy	Pair Corr
0.85	PGRTX	Smallcap Growth	Pair Corr
0.83	SCBPX	Strategic Asset Mana	Pair Corr
0.84	SCIPX	Strategic Asset Mana	Pair Corr
0.83	SCGPX	Strategic Asset Mana	Pair Corr
0.86	PHJEX	Principal Lifetime Hybrid	Pair Corr
0.86	PHJFX	Principal Lifetime Hybrid	Pair Corr
0.86	PHJGX	Principal Lifetime Hybrid	Pair Corr
0.86	PHJBX	Principal Lifetime Hybrid	Pair Corr
0.86	PHJDX	Principal Lifetime Hybrid	Pair Corr
0.86	PHJNX	Principal Lifetime Hybrid	Pair Corr
0.86	PHJQX	Principal Lifetime Hybrid	Pair Corr
0.86	PHJJX	Principal Lifetime Hybrid	Pair Corr
0.87	PHJMX	Principal Lifetime Hybrid	Pair Corr
0.86	PHJYX	Principal Lifetime Hybrid	Pair Corr

Related Correlations Analysis

	ARBOX	LCFYX	VAADX	CCD	XAVKX	PCNTX	XNCVX	GCV
ARBOX		0.67	0.9	0.72	0.42	0.77	0.44	0.66	ARBOX
LCFYX	0.67		0.84	0.97	0.76	0.96	0.85	0.95	LCFYX
VAADX	0.9	0.84		0.85	0.53	0.92	0.6	0.82	VAADX
CCD	0.72	0.97	0.85		0.75	0.94	0.87	0.94	CCD
XAVKX	0.42	0.76	0.53	0.75		0.73	0.89	0.82	XAVKX
PCNTX	0.77	0.96	0.92	0.94	0.73		0.8	0.95	PCNTX
XNCVX	0.44	0.85	0.6	0.87	0.89	0.8		0.86	XNCVX
GCV	0.66	0.95	0.82	0.94	0.82	0.95	0.86		GCV
	ARBOX	LCFYX	VAADX	CCD	XAVKX	PCNTX	XNCVX	GCV

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ARBOX	0.11	0.08	0.11	(3.84)	0.00	(0.20)	0.09	(0.09)	3.52
LCFYX	0.76	0.09	0.07	0.20	0.83	(0.84)	1.95	(1.78)	3.81
VAADX	0.85	0.22	0.24	0.37	0.54	(1.06)	1.65	(1.50)	12.63
CCD	0.73	0.10	0.09	0.18	0.71	(0.83)	1.66	(1.50)	4.60
XAVKX	0.59	0.01	(0.06)	0.12	0.73	(0.72)	1.13	(1.55)	3.76
PCNTX	0.76	0.09	0.08	0.19	0.80	(0.85)	1.58	(1.58)	5.73
XNCVX	0.69	0.06	0.01	0.32	0.82	(0.82)	1.59	(1.56)	4.51
GCV	0.77	0.08	0.04	0.26	0.86	(0.84)	2.13	(1.44)	4.09

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Short-term Income Correlations

Short-term Income Correlation With Market

Very poor diversification

Moving together with Short-term Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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