Strategic Bond Correlations

RFCTX Fund

USD 9.18 0.03 0.33%

The current 90-days correlation between Strategic Bond and Jennison Natural Resources is -0.08 (i.e., Good diversification). The correlation of Strategic 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.

Strategic Bond Correlation With Market

Average diversification

The correlation between Strategic Bond 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 Strategic Bond Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Strategic Bond 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 estimate.

Moving together with Strategic Mutual Fund

0.74	RNTTX	International Developed	Pair Corr
0.89	RREAX	Global Real Estate Potential Growth	Pair Corr
0.89	RREYX	Global Real Estate	Pair Corr
0.86	RRESX	Global Real Estate	Pair Corr
0.89	RRSCX	Global Real Estate	Pair Corr
0.89	RRSRX	Global Real Estate	Pair Corr
1.0	RSBRX	Strategic Bond	Pair Corr
0.92	RSBTX	Short Duration Bond	Pair Corr
0.84	RSBYX	Short Duration Bond	Pair Corr
0.93	RSBCX	Short Duration Bond	Pair Corr
0.84	RSDTX	Short Duration Bond	Pair Corr
1.0	RSYTX	Strategic Bond	Pair Corr
0.68	RTECX	Tax Exempt Bond	Pair Corr

Moving against Strategic Mutual Fund

0.69	RSECX	Us Strategic Equity	Pair Corr
0.69	RSESX	Us Strategic Equity	Pair Corr
0.68	RSEAX	Us Strategic Equity	Pair Corr
0.61	RSQAX	Us E Equity	Pair Corr
0.58	RSCRX	Us Small Cap	Pair Corr
0.37	RALUX	Growth Strategy	Pair Corr
0.31	RALRX	Growth Strategy	Pair Corr
0.69	RTDTX	Select Equity	Pair Corr
0.68	RTDAX	Multifactor Equity	Pair Corr
0.68	RTDCX	Multifactor Equity	Pair Corr
0.68	RTDYX	Select Equity	Pair Corr
0.68	RTDSX	Select Equity	Pair Corr
0.68	RTDRX	Select Equity	Pair Corr
0.66	RTMTX	Tax Managed Large	Pair Corr
0.65	RTLCX	Tax Managed Large	Pair Corr
0.65	RTLAX	Tax Managed Large	Pair Corr

Related Correlations Analysis

	PNRCX	GMOWX	CGAEX	ENPSX	XEMOX
PNRCX		0.59	0.26	0.6	0.29	PNRCX
GMOWX	0.59		0.77	0.02	-0.35	GMOWX
CGAEX	0.26	0.77		-0.48	-0.71	CGAEX
ENPSX	0.6	0.02	-0.48		0.78	ENPSX
XEMOX	0.29	-0.35	-0.71	0.78		XEMOX
	PNRCX	GMOWX	CGAEX	ENPSX	XEMOX

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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

XEMOX	+ 0.78	ENPSX
CGAEX	+ 0.77	GMOWX
ENPSX	+ 0.6	PNRCX
GMOWX	+ 0.59	PNRCX
XEMOX	+ 0.29	PNRCX
CGAEX	+ 0.26	PNRCX

High negative correlations

XEMOX	- 0.71	CGAEX
ENPSX	- 0.48	CGAEX
XEMOX	- 0.35	GMOWX

Risk-Adjusted Indicators

There is a big difference between Strategic Mutual Fund performing well and Strategic 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 Strategic 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
PNRCX	0.85	0.02	(0.02)	0.15	1.01	(0.84)	2.06	(1.76)	4.81
GMOWX	0.99	0.07	(0.01)	1.29	1.37	(0.97)	1.88	(2.32)	5.05
CGAEX	0.68	(0.05)	0.00	(0.09)	0.00	0.00	1.15	(1.28)	4.70
ENPSX	1.28	0.12	0.02	1.22	1.76	(1.31)	2.58	(3.15)	9.31
XEMOX	0.80	0.16	0.06	0.84	0.91	(0.88)	1.81	(1.34)	6.88

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