Ultra Short-term Correlations

UUSTX Fund  USD 10.08  0.01  0.1%   
The current 90-days correlation between Ultra Short Term and Advent Claymore Convertible is 0.06 (i.e., Significant diversification). The correlation of Ultra 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.

Ultra Short-term Correlation With Market

UltraDowDiversified AwayUltraDowDiversified Away100%

Good diversification

The correlation between Ultra Short Term Bond and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ultra Short Term Bond 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 Ultra Short Term Bond. 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 estimate.

Moving together with Ultra Mutual Fund

  0.85IPFIX Victory IncorePairCorr
  0.89RSDYX Victory Incore LowPairCorr
  0.72RSENX Victory Sophus EmergingPairCorr
  0.96RSFYX Victory Floating RatePairCorr
  0.92RSFCX Victory Floating RatePairCorr
  0.93RSFMX Victory Floating RatePairCorr
  0.93RSFLX Victory Floating RatePairCorr
  0.62RSIGX Victory Rs InternationalPairCorr

Moving against Ultra Mutual Fund

  0.73RSEGX Victory Rs SmallPairCorr
  0.65SSGSX Victory Sycamore SmallPairCorr
  0.63MMECX Victory IntegrityPairCorr
  0.6SSVSX Victory Special ValuePairCorr
  0.6MMEAX Victory IntegrityPairCorr
  0.6MMMMX Victory IntegrityPairCorr
  0.6MMMSX Victory IntegrityPairCorr
  0.58SRVEX Victory Diversified StockPairCorr
  0.57RPPRX Victory Rs PartnersPairCorr
  0.56SBFCX Victory Incore InvestmentPairCorr
  0.56SBFMX Victory PortfoliosPairCorr
  0.56MMIJX Victory Integrity MidPairCorr
  0.56MNNAX Victory Munder MultiPairCorr
  0.38SBALX Victory StrategicPairCorr
  0.37GUTEX Victory Tax ExemptPairCorr
  0.75UNYBX New York BondPairCorr
  0.73RSYEX Victory Rs SmallPairCorr
  0.68VSCVX Victory Integrity SmallPairCorr
  0.68VSVIX Victory Integrity SmallPairCorr
  0.61RSVAX Victory Rs ValuePairCorr
  0.61RSVYX Victory Rs ValuePairCorr
  0.59RSPFX Victory Rs PartnersPairCorr
  0.59RSPMX Victory Rs PartnersPairCorr
  0.58RSPYX Victory Rs PartnersPairCorr
  0.57RSINX Victory Rs InvestorsPairCorr
  0.56RSIYX Victory Rs Investors Potential GrowthPairCorr
  0.56RCOCX Victory Rs LargePairCorr

Related Correlations Analysis

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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   
WEICXHICSX
NCIDXXAVKX
WEICXNCIDX
NCIDXHICSX
VICIXHICSX
HICSXXAVKX
  
High negative correlations   
WEICXPCNBX
PCNBXVICIX
PCNBXNCIDX
PCNBXHICSX
PCNBXXAVKX

Risk-Adjusted Indicators

There is a big difference between Ultra Mutual Fund performing well and Ultra 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 Ultra 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.

Trending Assets

WEICX
Teton Vertible Securities
14.63  0.09  0.62 
NCIDX
Columbia Convertible
21.77  -0.17  -0.77 
VICIX
Victory Incore Investment
17.99  -0.09  -0.5 
XAVKX
Advent Claymore Conv
12.28  -0.1  -0.81