Money Market Correlations

GOVXX Fund

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The current 90-days correlation between Money Market Obligations and Guggenheim High Yield is 0.35 (i.e., Weak diversification). The correlation of Money Market 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.

Money Market Correlation With Market

Good diversification

The correlation between Money Market Obligations and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Money Market Obligations 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 Money Market Obligations. Also, note that the market value of any money market fund could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with Money Money Market Fund

0.65	VTSAX	Vanguard Total Stock	Pair Corr
0.69	VFIAX	Vanguard 500 Index	Pair Corr
0.65	VTSMX	Vanguard Total Stock	Pair Corr
0.67	VITSX	Vanguard Total Stock	Pair Corr
0.65	VSTSX	Vanguard Total Stock	Pair Corr
0.65	VSMPX	Vanguard Total Stock	Pair Corr
0.69	VFINX	Vanguard 500 Index	Pair Corr
0.67	VFFSX	Vanguard 500 Index	Pair Corr
0.62	BSDAX	Blackrock Smid Cap	Pair Corr
0.66	ELFNX	Elfun Trusts Elfun	Pair Corr
0.77	CSCO	Cisco Systems	Pair Corr
0.66	HPQ	HP Inc	Pair Corr
0.67	HD	Home Depot	Pair Corr
0.63	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.78	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr

Moving against Money Money Market Fund

0.58	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.77	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.66	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.53	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.39	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.36	VZ	Verizon Communications Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	SHYIX	AHYMX	BHYRX	JHYAX	SGYAX	MRHYX	BUFHX	RIMOX
SHYIX		0.83	0.89	0.91	0.88	0.81	0.78	0.61	SHYIX
AHYMX	0.83		0.8	0.73	0.75	0.69	0.64	0.53	AHYMX
BHYRX	0.89	0.8		0.89	0.82	0.84	0.79	0.63	BHYRX
JHYAX	0.91	0.73	0.89		0.83	0.84	0.8	0.74	JHYAX
SGYAX	0.88	0.75	0.82	0.83		0.87	0.92	0.81	SGYAX
MRHYX	0.81	0.69	0.84	0.84	0.87		0.93	0.76	MRHYX
BUFHX	0.78	0.64	0.79	0.8	0.92	0.93		0.85	BUFHX
RIMOX	0.61	0.53	0.63	0.74	0.81	0.76	0.85		RIMOX
	SHYIX	AHYMX	BHYRX	JHYAX	SGYAX	MRHYX	BUFHX	RIMOX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Money Money Market Fund performing well and Money Market Money Market 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 Money Market'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
SHYIX	0.12	0.02	(0.57)	4.26	0.00	(0.20)	0.25	(0.25)	0.74
AHYMX	0.09	0.02	(0.34)	(0.13)	0.04	(0.17)	0.22	(0.22)	0.98
BHYRX	0.11	0.00	(0.56)	0.20	0.00	(0.20)	0.28	(0.14)	0.84
JHYAX	0.13	0.01	(0.41)	0.36	0.00	(0.19)	0.27	(0.27)	0.95
SGYAX	0.13	0.03	(0.47)	(16.43)	0.00	(0.24)	0.29	(0.14)	0.99
MRHYX	0.10	0.02	(0.45)	(5.11)	0.00	(0.14)	0.23	(0.12)	0.81
BUFHX	0.09	0.02	(0.49)	9.16	0.00	(0.13)	0.19	(0.09)	0.83
RIMOX	0.05	0.01	(0.77)	1.36	0.00	(0.07)	0.15	(0.05)	0.56

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