Short Term Correlations

Mutual Funds . USA . 
Fund . Short Term Income Fund
STCCX Fund  USD 12.20  0.00  0.00%   
The current 90-days correlation between Short Term Income and Goldman Sachs Small is 0.31 (i.e., Weak diversification). The correlation of Short Term 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 Correlation With Market

Very poor diversification

The correlation between Short Term Income Fund and DJI is 0.85 (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 services.

Moving together with Short Mutual Fund

  0.8SABPX Strategic Asset ManaPairCorr
  0.8SACAX Strategic Asset ManaPairCorr
  0.79SAGPX Strategic Asset ManaPairCorr
  0.91PFIJX Strategic Asset ManaPairCorr
  0.93PFIEX International EquityPairCorr
  0.92PFIFX Strategic Asset ManaPairCorr
  0.9PFISX International Small PanyPairCorr
  0.92PFIPX Strategic Asset ManaPairCorr
  0.82SAIPX Strategic Asset ManaPairCorr
  0.79PFLJX Principal Lifetime 2050PairCorr
  0.71PFRSX Real Estate SecuritiesPairCorr
  0.91SAUPX Strategic Asset ManaPairCorr
  0.93PFUMX Finisterre UnconstrainedPairCorr
  0.66PGBLX Global Diversified IncomePairCorr
  0.65PGDIX Global Diversified IncomePairCorr
  0.91PGDRX Diversified Real AssetPairCorr
  0.85PGLSX Global Multi StrategyPairCorr
  0.75PGRTX Smallcap GrowthPairCorr
  0.86PGRUX Global Real EstatePairCorr
  0.86PGSLX Principal Global SusPairCorr
  0.86PGRKX Global Real EstatePairCorr
  0.8SCBPX Strategic Asset ManaPairCorr
  0.82SCIPX Strategic Asset ManaPairCorr
  0.79SCGPX Strategic Asset ManaPairCorr
  0.85PHJEX Principal Lifetime HybridPairCorr
  0.88PHJFX Principal Lifetime HybridPairCorr
  0.84PHJGX Principal Lifetime HybridPairCorr
  0.84PHJBX Principal Lifetime HybridPairCorr
  0.85PHJDX Principal Lifetime HybridPairCorr
  0.86PHJNX Principal Lifetime HybridPairCorr
  0.86PHJQX Principal Lifetime HybridPairCorr
  0.85PHJJX Principal Lifetime HybridPairCorr
  0.87PHJMX Principal Lifetime HybridPairCorr
  0.84PHJYX Principal Lifetime HybridPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Short Mutual Fund performing well and Short Term 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'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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