Bond Fund Correlations

AABOX Fund

USD 8.59 0.02 0.23%

The current 90-days correlation between Bond Fund Class and Federated Government Income is -0.04 (i.e., Good diversification). The correlation of Bond Fund 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.

Bond Fund Correlation With Market

Significant diversification

The correlation between Bond Fund Class and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bond Fund Class and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bond Fund Class. 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 metropolitan statistical area.

Moving together with Bond Mutual Fund

0.72	APBDX	Bond Fund Investor	Pair Corr
0.66	APENX	Strategic Enhanced Yield	Pair Corr
0.61	AAENX	Strategic Enhanced Yield	Pair Corr
0.65	AIBNX	Bond Fund Institutional	Pair Corr
0.67	AIENX	Strategic Enhanced Yield	Pair Corr
0.95	VBTLX	Vanguard Total Bond	Pair Corr
0.64	VBMFX	Vanguard Total Bond	Pair Corr
0.64	VBTIX	Vanguard Total Bond	Pair Corr
0.67	VTBIX	Vanguard Total Bond	Pair Corr
0.94	VTBNX	Vanguard Total Bond	Pair Corr
0.92	BFAFX	Bond Fund	Pair Corr
0.61	ABNDX	Bond Fund	Pair Corr
0.96	BFACX	Bond Fund	Pair Corr
0.92	FBOFX	American Funds	Pair Corr

Related Correlations Analysis

	FICMX	WMBDX	TWARX	DPIGX	USGFX	SIGVX	RYAQX
FICMX		0.92	0.56	0.73	0.94	0.43	0.07	FICMX
WMBDX	0.92		0.48	0.63	0.95	0.29	-0.1	WMBDX
TWARX	0.56	0.48		0.93	0.64	0.93	0.72	TWARX
DPIGX	0.73	0.63	0.93		0.79	0.86	0.62	DPIGX
USGFX	0.94	0.95	0.64	0.79		0.46	0.08	USGFX
SIGVX	0.43	0.29	0.93	0.86	0.46		0.81	SIGVX
RYAQX	0.07	-0.1	0.72	0.62	0.08	0.81		RYAQX
	FICMX	WMBDX	TWARX	DPIGX	USGFX	SIGVX	RYAQX

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

USGFX	+ 0.95	WMBDX
USGFX	+ 0.94	FICMX
DPIGX	+ 0.93	TWARX
SIGVX	+ 0.93	TWARX
WMBDX	+ 0.92	FICMX
SIGVX	+ 0.86	DPIGX

High negative correlations

RYAQX

- 0.1

WMBDX

Risk-Adjusted Indicators

There is a big difference between Bond Mutual Fund performing well and Bond Fund 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 Bond Fund'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
FICMX	0.17	0.01	(0.30)	0.21	0.13	(0.22)	0.33	(0.33)	1.10
WMBDX	0.17	0.00	(0.30)	0.40	0.16	(0.21)	0.38	(0.37)	1.13
TWARX	0.04	0.00	(0.74)	0.30	0.00	(0.13)	0.11	(0.11)	0.44
DPIGX	0.08	0.00	(0.70)	(0.18)	0.00	(0.13)	0.21	(0.10)	0.52
USGFX	0.13	0.00	(0.44)	0.01	0.12	(0.16)	0.33	(0.25)	0.91
SIGVX	0.05	0.00	(0.76)	(0.93)	0.00	(0.13)	0.10	(0.10)	0.51
RYAQX	0.39	0.03	(0.14)	(0.13)	0.43	(0.43)	0.98	(0.61)	1.98

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