Total Return Correlations

Mutual Funds . USA . 
Fund . Total Return Bond
BNDIX Fund  USD 9.61  0.01  0.10%   
The current 90-days correlation between Total Return Bond and Morningstar Municipal Bond is 0.49 (i.e., Very weak diversification). The correlation of Total Return 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.

Total Return Correlation With Market

Good diversification

The correlation between Total Return Bond and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Total Return Bond 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 Total Return 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 gross domestic product.

Moving together with Total Mutual Fund

  0.96SRUAX Spectrum Fund AdviserPairCorr
  0.97SRUIX Spectrum Fund InstitPairCorr
  0.95QNTAX Quantex Fund AdviserPairCorr
  0.96QNTIX Quantex Fund InstituPairCorr
  0.99IFAAX Infrastructure FundPairCorr
  0.99IFAIX Infrastructure FundPairCorr
  0.98BLNIX Balanced Fund InstitPairCorr
  0.98BLNAX Balanced Fund AdviserPairCorr
  0.98FLBDX Total Return BondPairCorr
  0.95FLCGX Quantex Fund RetailPairCorr
  0.98FLDOX Dividend OpportunitiesPairCorr
  0.96FLDGX Dynamic GrowthPairCorr
  0.97FLDFX Balanced Fund RetailPairCorr
  0.93FLFGX Global OpportunitiesPairCorr
  0.96FLMIX Muirfield Fund InstiPairCorr
  0.95FLMFX Muirfield Fund RetailPairCorr
  0.96FLMAX Muirfield Fund AdviserPairCorr
  0.98FLRUX Infrastructure FundPairCorr
  0.98FLSPX Spectrum Fund RetailPairCorr
  0.99DVOIX Dividend OpportunitiesPairCorr
  0.98DVOAX Dividend OpportunitiesPairCorr
  1.0BNDAX Total Return BondPairCorr
  0.94GBPAX Global OpportunitiesPairCorr
  0.94GBPIX Global OpportunitiesPairCorr
  0.96DYGIX Dynamic GrowthPairCorr
  0.96DYGAX Dynamic GrowthPairCorr
  0.98BSIKX Blackrock StrategicPairCorr
  0.97BSICX Blackrock Strategic OppsPairCorr
  0.98BASIX Blackrock Strategic OppsPairCorr
  0.98BSIIX Blackrock StrategicPairCorr
  0.97JSORX Jpmorgan Strategic IncomePairCorr
  0.97JSOZX Jpmorgan Strategic IncomePairCorr
  0.96JSOCX Jpmorgan Strategic IncomePairCorr
  0.96JSOSX Jpmorgan Strategic IncomePairCorr
  0.97JSOAX Jpmorgan Strategic IncomePairCorr
  0.93PMZCX Pimco Mortgage OpporPairCorr
  0.83MGGYX Mirova Global GreenPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Total Mutual Fund performing well and Total Return 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 Total Return'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.

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