Low-duration Bond Correlations

GLDZX Fund

USD 12.89 0.01 0.08%

The current 90-days correlation between Low Duration Bond and Principal Lifetime Hybrid is 0.25 (i.e., Modest diversification). The correlation of Low-duration Bond 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.

Low-duration Bond Correlation With Market

Good diversification

The correlation between Low Duration Bond Investor and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Low Duration Bond Investor and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Low Duration Bond Investor. 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 nation.

Moving together with Low-duration Mutual Fund

0.88	GGBEX	Global Bond Fund	Pair Corr
0.88	GGBFX	Global Bond Fund	Pair Corr
0.64	GIEYX	International Equity	Pair Corr
0.64	GIEZX	International Equity	Pair Corr
0.67	GIIYX	International Equity	Pair Corr
0.69	GIIZX	Guidestone Funds Int	Pair Corr
0.99	GLDYX	Low Duration Bond	Pair Corr
0.86	GMDYX	Medium Duration Bond	Pair Corr
0.85	GMDZX	Medium Duration Bond	Pair Corr
0.83	GMBYX	Guidestone Funds	Pair Corr
0.83	GMBZX	Guidestone Funds	Pair Corr

Moving against Low-duration Mutual Fund

0.53	GFSZX	Strategic Alternatives	Pair Corr
0.52	GFSYX	Strategic Alternatives	Pair Corr
0.47	GVEYX	Value Equity Institu	Pair Corr
0.47	GVEZX	Value Equity Investor	Pair Corr
0.47	GGEYX	Guidestone Fds Growth	Pair Corr
0.47	GGEZX	Growth Equity Investor	Pair Corr
0.45	GEIYX	Guidestone Growth Equity	Pair Corr
0.45	GEIZX	Guidestone Growth Equity	Pair Corr
0.44	GVIYX	Guidestone Value Equity	Pair Corr
0.44	GVIZX	Guidestone Value Equity	Pair Corr
0.44	GEQYX	Equity Index Institu	Pair Corr
0.44	GEQZX	Equity Index Investor	Pair Corr
0.35	GDMYX	Defensive Market Str	Pair Corr
0.35	GDMZX	Defensive Market Str	Pair Corr
0.51	GSCYX	Small Cap Equity	Pair Corr
0.5	GSCZX	Small Cap Equity	Pair Corr

Related Correlations Analysis

	PHJFX	XWDIX	USCAX	MDSKX	PASVX	JDJRX	ADX	ACDOX
PHJFX		0.35	0.45	0.35	0.35	0.64	0.26	0.28	PHJFX
XWDIX	0.35		-0.47	-0.59	-0.58	0.52	-0.69	0.92	XWDIX
USCAX	0.45	-0.47		0.98	0.98	-0.16	0.87	-0.54	USCAX
MDSKX	0.35	-0.59	0.98		1.0	-0.26	0.93	-0.66	MDSKX
PASVX	0.35	-0.58	0.98	1.0		-0.27	0.92	-0.64	PASVX
JDJRX	0.64	0.52	-0.16	-0.26	-0.27		-0.28	0.51	JDJRX
ADX	0.26	-0.69	0.87	0.93	0.92	-0.28		-0.79	ADX
ACDOX	0.28	0.92	-0.54	-0.66	-0.64	0.51	-0.79		ACDOX
	PHJFX	XWDIX	USCAX	MDSKX	PASVX	JDJRX	ADX	ACDOX

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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

PASVX	+ 1.0	MDSKX
MDSKX	+ 0.98	USCAX
PASVX	+ 0.98	USCAX
ADX	+ 0.93	MDSKX
ACDOX	+ 0.92	XWDIX
ADX	+ 0.92	PASVX

High negative correlations

ACDOX	- 0.79	ADX
ADX	- 0.69	XWDIX
ACDOX	- 0.66	MDSKX
ACDOX	- 0.64	PASVX
MDSKX	- 0.59	XWDIX
PASVX	- 0.58	XWDIX

Risk-Adjusted Indicators

There is a big difference between Low-duration Mutual Fund performing well and Low-duration Bond 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 Low-duration Bond'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
PHJFX	0.22	(0.02)	(0.35)	0.02	0.23	(0.26)	0.47	(0.56)	1.22
XWDIX	0.17	(0.02)	0.00	(2.43)	0.00	0.00	0.32	(0.38)	1.39
USCAX	0.94	(0.07)	(0.01)	0.07	0.94	(1.11)	2.07	(1.70)	7.45
MDSKX	0.92	(0.03)	0.03	0.10	0.92	(0.99)	2.08	(1.62)	7.61
PASVX	0.75	0.00	0.03	0.11	0.70	(0.81)	1.74	(1.22)	6.47
JDJRX	0.44	(0.08)	0.00	(0.09)	0.00	0.00	1.00	(0.89)	2.54
ADX	0.64	(0.02)	(0.05)	0.09	0.86	(0.65)	1.35	(1.20)	3.44
ACDOX	0.23	(0.01)	0.00	0.34	0.00	0.00	0.44	(0.54)	1.39

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