Aamhimco Short Correlations

Mutual Funds . USA . 
Fund . Aamhimco Short Duration
ASDIX Fund  USD 10.11  0.01  0.1%   
The current 90-days correlation between Aamhimco Short Duration and American Mutual Fund is 0.07 (i.e., Significant diversification). The correlation of Aamhimco Short 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.

Aamhimco Short Correlation With Market

Significant diversification

The correlation between Aamhimco Short Duration and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aamhimco Short Duration 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 Aamhimco Short Duration. 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 Aamhimco Mutual Fund

  0.89ASDCX Aamhimco Short DurationPairCorr
  0.81AFNIX Aambahl Gaynor IncomePairCorr
  0.81AFNAX Aambahl Gaynor IncomePairCorr
  0.76AFYCX Aambahl Gaynor IncomePairCorr
  0.88CPUIX Aam Select IncomePairCorr
  0.89PTSPX Pimco Short TermPairCorr
  0.77PTSHX Short Term FundPairCorr
  0.87PSFAX Short Term FundPairCorr
  0.75PTSRX Short Term FundPairCorr
  0.94PSDNX Putnam Ultra ShortPairCorr
  0.93LUSNX Lord Abbett UltraPairCorr
  0.98VUBFX Vanguard Ultra-short-termPairCorr
  0.93PSDRX Putnam Short DurationPairCorr
  0.94PSDYX Putnam Short DurationPairCorr
  0.85TREMX T Rowe PricePairCorr
  0.84ONERX One Rock FundPairCorr
  0.9TTEEX T Rowe PricePairCorr
  0.91FIKGX Fidelity Advisor SemPairCorr
  0.82FELIX Fidelity Advisor SemPairCorr
  0.91FSELX Fidelity Select SemiPairCorr
  0.91FELAX Fidelity Advisor SemPairCorr
  0.82FELTX Fidelity Advisor SemPairCorr
  0.83GAUAX Gabelli UtilitiesPairCorr
  0.87HRBDX Harbor Bond FundPairCorr
  0.9ESCFX 1290 FundsPairCorr
  0.81TRSTX T Rowe PricePairCorr
  0.94MIDFX Marsico Midcap GrowthPairCorr
  0.81EPSIX Mainstay Epoch GlobalPairCorr
  0.9SSAQX State Street CorePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Aamhimco Mutual Fund performing well and Aamhimco Short 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 Aamhimco Short'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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