Short Term Correlations

STCCX Fund

USD 12.18 0.01 0.08%

The current 90-days correlation between Short Term Income and Invesco Real Estate is 0.12 (i.e., Average 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

Significant diversification

The correlation between Short Term Income Fund and DJI is 0.09 (i.e., Significant 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 Mutual Fund

0.64	PFIJX	Strategic Asset Mana	Pair Corr
0.61	PFIEX	International Equity	Pair Corr
0.71	PFIFX	Strategic Asset Mana	Pair Corr
0.63	PFIPX	Strategic Asset Mana	Pair Corr
0.63	PFLJX	Principal Lifetime 2050	Pair Corr
0.63	SAUPX	Strategic Asset Mana	Pair Corr
0.85	PFUMX	Finisterre Unconstrained	Pair Corr
0.64	PGBEX	Blue Chip Fund	Pair Corr
0.64	PGBGX	Blue Chip Fund	Pair Corr
0.64	PGBHX	Blue Chip Fund	Pair Corr
0.74	PGDRX	Diversified Real Asset	Pair Corr
0.72	PGLSX	Global Multi Strategy	Pair Corr
0.66	PGRTX	Smallcap Growth	Pair Corr
0.61	SCBPX	Strategic Asset Mana	Pair Corr
0.62	SCIPX	Strategic Asset Mana	Pair Corr
0.67	PHJEX	Principal Lifetime Hybrid	Pair Corr
0.67	PHJGX	Principal Lifetime Hybrid	Pair Corr
0.67	PHJBX	Principal Lifetime Hybrid	Pair Corr
0.67	PHJDX	Principal Lifetime Hybrid	Pair Corr
0.65	PHJNX	Principal Lifetime Hybrid Potential Growth	Pair Corr
0.63	PHJQX	Principal Lifetime Hybrid	Pair Corr
0.66	PHJJX	Principal Lifetime Hybrid	Pair Corr
0.67	PHJYX	Principal Lifetime Hybrid	Pair Corr

Moving against Short Mutual Fund

0.68	PGBAX	Global Diversified Income	Pair Corr
0.62	PGBLX	Global Diversified Income	Pair Corr
0.72	PGDCX	Global Diversified Income	Pair Corr
0.62	PGDIX	Global Diversified Income	Pair Corr
0.32	PGRUX	Global Real Estate	Pair Corr

Related Correlations Analysis

	REINX	FREEX	CREYX	TRREX	CREMX	PNDIX	PJEAX
REINX		0.13	0.41	0.91	0.48	0.49	-0.04	REINX
FREEX	0.13		0.74	0.17	-0.39	-0.39	0.94	FREEX
CREYX	0.41	0.74		0.46	-0.2	-0.2	0.71	CREYX
TRREX	0.91	0.17	0.46		0.47	0.48	0.0	TRREX
CREMX	0.48	-0.39	-0.2	0.47		0.98	-0.35	CREMX
PNDIX	0.49	-0.39	-0.2	0.48	0.98		-0.36	PNDIX
PJEAX	-0.04	0.94	0.71	0.0	-0.35	-0.36		PJEAX
	REINX	FREEX	CREYX	TRREX	CREMX	PNDIX	PJEAX

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

PNDIX	+ 0.98	CREMX
PJEAX	+ 0.94	FREEX
TRREX	+ 0.91	REINX
CREYX	+ 0.74	FREEX
PJEAX	+ 0.71	CREYX
PNDIX	+ 0.49	REINX

High negative correlations

PNDIX	- 0.39	FREEX
CREMX	- 0.39	FREEX
PJEAX	- 0.36	PNDIX
PJEAX	- 0.35	CREMX
PNDIX	- 0.2	CREYX
CREMX	- 0.2	CREYX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
REINX	0.62	(0.01)	(0.04)	0.05	0.75	(0.66)	1.38	(1.23)	5.46
FREEX	0.54	(0.02)	0.00	(0.10)	0.00	0.00	1.06	(1.20)	3.62
CREYX	0.60	(0.05)	0.00	(0.05)	0.00	0.00	1.05	(1.14)	3.89
TRREX	0.65	0.00	(0.04)	0.07	0.78	(0.76)	1.26	(1.11)	6.18
CREMX	0.03	0.01	0.00	1.62	0.00	0.00	0.08	0.00	0.60
PNDIX	0.05	0.01	0.00	1.71	0.00	0.00	0.10	0.00	0.79
PJEAX	0.57	(0.03)	0.00	(0.13)	0.00	0.00	1.05	(1.25)	3.75

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