Short Duration Correlations

WEFIX Fund

USD 11.96 0.01 0.08%

The current 90-days correlation between Short Duration Income and Weitz Ultra Short is 0.63 (i.e., Poor diversification). The correlation of Short Duration 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 Duration Correlation With Market

Good diversification

The correlation between Short Duration Income 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 Short Duration Income and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Short Duration Income. 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 gross domestic product.

Moving together with Short Mutual Fund

0.99	WSHNX	Short Duration Income	Pair Corr
0.61	WBAIX	Weitz Balanced	Pair Corr
0.62	VFSUX	Vanguard Short Term	Pair Corr
0.64	VFSIX	Vanguard Short Term	Pair Corr
0.62	VFSTX	Vanguard Short Term	Pair Corr
0.9	LALDX	Lord Abbett Short	Pair Corr
0.9	LDLAX	Lord Abbett Short	Pair Corr
0.95	LDLRX	Lord Abbett Short	Pair Corr

Related Correlations Analysis

	SAFEX	WBALX	WBAIX	WCPBX	WVAIX	WEFIX	WNTFX	WPOIX	WPOPX	WPVIX
SAFEX		0.66	0.68	-0.64	0.68	0.57	-0.18	0.81	0.82	0.82	SAFEX
WBALX	0.66		0.99	-0.31	0.86	0.57	0.13	0.82	0.82	0.85	WBALX
WBAIX	0.68	0.99		-0.31	0.84	0.61	0.14	0.82	0.82	0.84	WBAIX
WCPBX	-0.64	-0.31	-0.31		-0.49	0.21	0.65	-0.65	-0.65	-0.68	WCPBX
WVAIX	0.68	0.86	0.84	-0.49		0.32	-0.11	0.94	0.93	0.93	WVAIX
WEFIX	0.57	0.57	0.61	0.21	0.32		0.53	0.35	0.35	0.34	WEFIX
WNTFX	-0.18	0.13	0.14	0.65	-0.11	0.53		-0.26	-0.26	-0.24	WNTFX
WPOIX	0.81	0.82	0.82	-0.65	0.94	0.35	-0.26		1.0	0.99	WPOIX
WPOPX	0.82	0.82	0.82	-0.65	0.93	0.35	-0.26	1.0		0.99	WPOPX
WPVIX	0.82	0.85	0.84	-0.68	0.93	0.34	-0.24	0.99	0.99		WPVIX
	SAFEX	WBALX	WBAIX	WCPBX	WVAIX	WEFIX	WNTFX	WPOIX	WPOPX	WPVIX

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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

WPOPX	+ 1.0	WPOIX
WBAIX	+ 0.99	WBALX
WPVIX	+ 0.99	WPOIX
WPVIX	+ 0.99	WPOPX
WPOIX	+ 0.94	WVAIX
WPOPX	+ 0.93	WVAIX

High negative correlations

WPVIX	- 0.68	WCPBX
WPOPX	- 0.65	WCPBX
WPOIX	- 0.65	WCPBX
WCPBX	- 0.64	SAFEX
WVAIX	- 0.49	WCPBX
WCPBX	- 0.31	WBAIX

Risk-Adjusted Indicators

There is a big difference between Short Mutual Fund performing well and Short Duration 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 Duration'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
SAFEX	0.04	0.01	0.00	(0.35)	0.00	0.00	0.00	0.00	0.40
WBALX	0.26	(0.02)	(0.29)	0.07	0.23	(0.29)	0.52	(0.51)	1.80
WBAIX	0.24	(0.01)	(0.30)	0.08	0.20	(0.27)	0.68	(0.45)	1.80
WCPBX	0.20	(0.02)	0.00	0.39	0.00	0.00	0.41	(0.52)	1.14
WVAIX	0.60	(0.03)	(0.06)	0.09	0.68	(0.60)	1.13	(1.26)	4.73
WEFIX	0.08	0.00	(1.14)	(0.27)	0.00	(0.13)	0.17	(0.08)	0.59
WNTFX	0.08	(0.01)	(0.48)	(0.11)	0.11	(0.14)	0.21	(0.10)	0.83
WPOIX	0.52	0.01	(0.03)	0.13	0.49	(0.58)	0.98	(1.10)	4.40
WPOPX	0.54	0.01	(0.03)	0.14	0.53	(0.62)	0.96	(1.08)	4.54
WPVIX	0.57	0.01	(0.02)	0.13	0.56	(0.63)	1.04	(1.23)	4.73

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