Short-term Government Correlations

TWACX Fund

USD 9.04 0.01 0.11%

The current 90-days correlation between Short Term Government and Summit Global Investments is 0.22 (i.e., Modest diversification). The correlation of Short-term Government 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-term Government Correlation With Market

Average diversification

The correlation between Short Term Government Fund and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Short Term Government Fund 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 Short Term Government Fund. 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 private.

Moving together with Short-term Mutual Fund

0.72	AMEIX	Equity Growth	Pair Corr
0.75	AMGIX	Income Growth	Pair Corr
0.9	CDBCX	Diversified Bond	Pair Corr
0.76	AMKIX	Emerging Markets	Pair Corr
0.64	TWCIX	Select Fund Investor	Pair Corr
0.61	TWCGX	Growth Fund Investor	Pair Corr
0.98	TWARX	Short Term Government	Pair Corr
0.97	TWAVX	Short Term Government	Pair Corr
0.66	TWBIX	Balanced Fund Investor	Pair Corr
0.61	TWGIX	Growth Fund I	Pair Corr
0.71	TWMIX	Emerging Markets	Pair Corr
0.83	TWTCX	Intermediate Term Tax	Pair Corr
0.85	TWTIX	Intermediate Term Tax	Pair Corr
0.61	TWSCX	Strategic Allocation	Pair Corr
0.64	TWSIX	Select Fund I	Pair Corr
0.62	TWUAX	Ultra Fund A	Pair Corr
0.93	TWUOX	Short Term Government	Pair Corr
0.85	TWWOX	Intermediate Term Tax	Pair Corr

Moving against Short-term Mutual Fund

0.42	AMVRX	Mid Cap Value	Pair Corr
0.39	AMVGX	Mid Cap Value	Pair Corr
0.38	AMDVX	Mid Cap Value	Pair Corr
0.38	AMVYX	Mid Cap Value	Pair Corr
0.37	TWHIX	Heritage Fund Investor	Pair Corr

Related Correlations Analysis

	SGICX	DHGAX	GMADX	MFIRX	CBSYX	ZGFIX	HRLAX	DBIWX
SGICX		0.59	0.78	0.6	0.67	0.68	0.75	0.63	SGICX
DHGAX	0.59		0.81	0.93	0.92	0.69	0.75	0.91	DHGAX
GMADX	0.78	0.81		0.84	0.93	0.78	0.78	0.83	GMADX
MFIRX	0.6	0.93	0.84		0.88	0.6	0.8	0.87	MFIRX
CBSYX	0.67	0.92	0.93	0.88		0.82	0.79	0.94	CBSYX
ZGFIX	0.68	0.69	0.78	0.6	0.82		0.68	0.79	ZGFIX
HRLAX	0.75	0.75	0.78	0.8	0.79	0.68		0.86	HRLAX
DBIWX	0.63	0.91	0.83	0.87	0.94	0.79	0.86		DBIWX
	SGICX	DHGAX	GMADX	MFIRX	CBSYX	ZGFIX	HRLAX	DBIWX

Risk-Adjusted Indicators

There is a big difference between Short-term Mutual Fund performing well and Short-term Government 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-term Government'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
SGICX	0.40	0.03	0.01	0.10	0.45	(0.45)	0.87	(0.92)	2.54
DHGAX	0.12	0.01	(0.27)	0.29	0.00	(0.14)	0.25	(0.20)	0.73
GMADX	0.53	0.00	0.00	0.06	0.68	(0.56)	1.13	(1.08)	3.57
MFIRX	0.10	0.02	(0.19)	0.61	0.00	(0.22)	0.19	(0.19)	0.56
CBSYX	0.35	0.03	0.00	0.12	0.35	(0.37)	0.71	(0.71)	2.04
ZGFIX	0.50	0.01	0.00	0.07	0.55	(0.51)	1.12	(0.99)	2.49
HRLAX	0.28	0.03	(0.04)	0.31	0.29	(0.31)	0.62	(0.61)	1.55
DBIWX	0.30	0.05	0.01	0.38	0.20	(0.34)	0.71	(0.62)	1.61

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