Short Duration Correlations

WSHNX Fund

USD 12.06 0.00 0.00%

The current 90-days correlation between Short Duration Income and Doubleline Flexible Income is -0.07 (i.e., Good 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 -0.08 (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 employment.

Moving together with Short Mutual Fund

0.97	SAFEX	Weitz Ultra Short	Pair Corr
0.75	WBALX	Balanced Fund Balanced	Pair Corr
0.76	WBAIX	Weitz Balanced	Pair Corr
0.66	WCPBX	Core Plus Income	Pair Corr
0.61	WCPNX	Core Plus Income	Pair Corr
0.71	WVAIX	Value Fund Value	Pair Corr
0.71	WVALX	Value Fund Value	Pair Corr
0.97	WEFIX	Short Duration Income	Pair Corr
0.86	WNTFX	Nebraska Tax Free	Pair Corr
0.64	WPOIX	Partners Iii Opportunity	Pair Corr
0.63	WPOPX	Partners Iii Opportunity	Pair Corr
0.67	WPVLX	Partners Value	Pair Corr
0.67	WPVIX	Partners Value	Pair Corr
0.82	VBIRX	Vanguard Short Term	Pair Corr
0.9	VFSUX	Vanguard Short Term	Pair Corr
0.93	VFSIX	Vanguard Short Term	Pair Corr
0.95	VFSTX	Vanguard Short Term	Pair Corr
0.91	VBITX	Vanguard Short Term	Pair Corr
0.92	VBISX	Vanguard Short Term	Pair Corr
0.87	VSCSX	Vanguard Short Term	Pair Corr
0.94	LALDX	Lord Abbett Short	Pair Corr
0.94	LDLAX	Lord Abbett Short	Pair Corr
0.94	LDLRX	Lord Abbett Short	Pair Corr
0.74	PMPIX	Precious Metals Ultr Steady Growth	Pair Corr
0.74	PMPSX	Precious Metals Ultr Steady Growth	Pair Corr
0.78	FGPMX	Franklin Gold And	Pair Corr
0.76	FRGOX	Franklin Gold Precious	Pair Corr
0.82	MIDSX	Midas Fund Midas	Pair Corr
0.77	FIJDX	Gold Portfolio Fidelity	Pair Corr
0.87	OLCAX	Oppenheimer Rochester	Pair Corr
0.8	PQTNX	Pimco Trends Managed	Pair Corr
0.86	PHDCX	High Yield Fund	Pair Corr
0.94	CUSDX	Six Circles Ultra	Pair Corr
0.65	RELSX	Equity Growth Strategy	Pair Corr
0.9	FTZAX	Fuller Thaler Behavioral	Pair Corr
0.61	NEWCX	New World Fund	Pair Corr
0.81	USHYX	High Income Fund	Pair Corr
0.7	IVNCX	Ivy Global Growth	Pair Corr

Related Correlations Analysis

	DFLEX	DLINX	SSIZX	SSIRX	EOS	PYVSX	PYVAX	AGEPX	RYTFX	NRIAX
DFLEX		0.99	0.68	0.7	-0.48	0.81	0.81	0.95	0.69	0.34	DFLEX
DLINX	0.99		0.72	0.75	-0.46	0.83	0.82	0.93	0.72	0.4	DLINX
SSIZX	0.68	0.72		0.86	-0.08	0.74	0.73	0.63	0.48	0.51	SSIZX
SSIRX	0.7	0.75	0.86		-0.26	0.76	0.76	0.63	0.51	0.39	SSIRX
EOS	-0.48	-0.46	-0.08	-0.26		-0.12	-0.11	-0.37	-0.06	0.21	EOS
PYVSX	0.81	0.83	0.74	0.76	-0.12		1.0	0.84	0.71	0.56	PYVSX
PYVAX	0.81	0.82	0.73	0.76	-0.11	1.0		0.84	0.71	0.56	PYVAX
AGEPX	0.95	0.93	0.63	0.63	-0.37	0.84	0.84		0.71	0.31	AGEPX
RYTFX	0.69	0.72	0.48	0.51	-0.06	0.71	0.71	0.71		0.47	RYTFX
NRIAX	0.34	0.4	0.51	0.39	0.21	0.56	0.56	0.31	0.47		NRIAX
	DFLEX	DLINX	SSIZX	SSIRX	EOS	PYVSX	PYVAX	AGEPX	RYTFX	NRIAX

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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

PYVAX	+ 1.0	PYVSX
DLINX	+ 0.99	DFLEX
AGEPX	+ 0.95	DFLEX
AGEPX	+ 0.93	DLINX
SSIRX	+ 0.86	SSIZX
AGEPX	+ 0.84	PYVSX

High negative correlations

EOS	- 0.48	DFLEX
EOS	- 0.46	DLINX
AGEPX	- 0.37	EOS
EOS	- 0.26	SSIRX
PYVSX	- 0.12	EOS
PYVAX	- 0.11	EOS

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
DFLEX	0.06	0.00	(0.29)	0.14	0.00	(0.12)	0.11	(0.11)	0.80
DLINX	0.06	0.00	(0.32)	0.06	0.00	(0.11)	0.11	(0.11)	0.68
SSIZX	0.11	(0.01)	(0.44)	(0.03)	0.14	(0.12)	0.20	(0.20)	0.96
SSIRX	0.10	(0.01)	(0.43)	(0.02)	0.14	(0.12)	0.20	(0.25)	1.01
EOS	0.78	(0.04)	0.00	(1.10)	0.00	0.00	1.59	(1.97)	3.95
PYVSX	0.51	0.00	(0.04)	0.09	0.51	(0.58)	0.91	(1.11)	2.37
PYVAX	0.50	0.00	(0.04)	0.09	0.52	(0.56)	0.91	(1.12)	2.32
AGEPX	0.18	0.07	(0.03)	0.91	0.00	(0.26)	0.41	(0.14)	1.73
RYTFX	0.99	0.13	0.16	0.17	0.71	(1.34)	2.21	(1.97)	14.82
NRIAX	0.24	(0.02)	0.00	(0.14)	0.00	0.00	0.49	(0.50)	1.43

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