Limited Term Correlations

LTXFX Fund

USD 15.72 0.02 0.13%

The current 90-days correlation between Limited Term Tax and Pimco High Yield is 0.75 (i.e., Poor diversification). The correlation of Limited Term 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.

Limited Term Correlation With Market

Average diversification

The correlation between Limited Term Tax and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Limited Term Tax and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Limited Term Tax. 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 price.

Moving together with Limited Mutual Fund

0.84	AMECX	Income Fund	Pair Corr
0.82	AMFCX	American Mutual	Pair Corr
0.82	AMFFX	American Mutual	Pair Corr
0.79	CUSEX	Capital Group Equity	Pair Corr
0.94	AMHIX	American High Income	Pair Corr
0.89	TEBCX	Tax Exempt Bond	Pair Corr
0.88	TECCX	Tax Exempt Fund	Pair Corr
0.92	TECFX	Tax Exempt Fund	Pair Corr
0.79	AMPCX	Amcap Fund Class	Pair Corr
0.8	AMPFX	Amcap Fund Class	Pair Corr
0.97	TEPCX	American Funds Tax	Pair Corr
0.96	TEPAX	American Funds Tax	Pair Corr
0.97	TEPFX	American Funds Tax	Pair Corr
0.89	EMGEX	Emerging Markets Growth	Pair Corr
0.85	ANCFX	American Funds Funda	Pair Corr
0.84	ANFCX	New Economy Fund	Pair Corr
0.87	ANEFX	New Economy Fund	Pair Corr
0.85	ANFFX	New Economy Fund	Pair Corr
0.89	EMRGX	Emerging Markets Growth	Pair Corr
0.84	NPFCX	New Perspective	Pair Corr
0.84	NPFFX	New Perspective	Pair Corr
0.94	PGGAX	American Funds Global	Pair Corr
0.85	PGGFX	American Funds Global	Pair Corr
0.85	ANWPX	New Perspective	Pair Corr
0.86	BALFX	American Balanced	Pair Corr
0.87	BALCX	American Balanced	Pair Corr
0.87	CWGIX	Capital World Growth	Pair Corr
0.85	CWGFX	Capital World Growth	Pair Corr
0.85	CWGCX	Capital World Growth	Pair Corr
0.77	WSHFX	Washington Mutual	Pair Corr
0.85	WSHCX	Washington Mutual	Pair Corr
0.86	FAATX	American Funds 2010	Pair Corr
0.84	FAETX	American Funds 2030	Pair Corr

Moving against Limited Mutual Fund

0.5

AMRMX

American Mutual

Pair Corr

Related Correlations Analysis

	PHMIX	BMNSX	JENSX	JENIX	JENYX	MPMNX	DLSNX	DBLSX	MPGFX	GILDX
PHMIX		0.61	0.07	0.07	0.07	0.91	0.39	0.37	0.4	0.45	PHMIX
BMNSX	0.61		0.64	0.64	0.64	0.83	0.94	0.93	0.82	0.92	BMNSX
JENSX	0.07	0.64		1.0	1.0	0.32	0.77	0.75	0.34	0.71	JENSX
JENIX	0.07	0.64	1.0		1.0	0.32	0.77	0.75	0.34	0.71	JENIX
JENYX	0.07	0.64	1.0	1.0		0.32	0.77	0.75	0.34	0.71	JENYX
MPMNX	0.91	0.83	0.32	0.32	0.32		0.66	0.64	0.63	0.68	MPMNX
DLSNX	0.39	0.94	0.77	0.77	0.77	0.66		0.99	0.8	0.97	DLSNX
DBLSX	0.37	0.93	0.75	0.75	0.75	0.64	0.99		0.83	0.96	DBLSX
MPGFX	0.4	0.82	0.34	0.34	0.34	0.63	0.8	0.83		0.79	MPGFX
GILDX	0.45	0.92	0.71	0.71	0.71	0.68	0.97	0.96	0.79		GILDX
	PHMIX	BMNSX	JENSX	JENIX	JENYX	MPMNX	DLSNX	DBLSX	MPGFX	GILDX

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Risk-Adjusted Indicators

There is a big difference between Limited Mutual Fund performing well and Limited Term 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 Limited Term'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
PHMIX	0.09	0.00	(0.32)	(0.07)	0.08	(0.19)	0.24	(0.24)	0.84
BMNSX	0.05	0.01	0.00	2.77	0.00	0.00	0.10	(0.10)	0.39
JENSX	1.82	1.04	1.11	(0.38)	0.00	(2.29)	1.06	(1.04)	61.11
JENIX	1.83	1.05	1.11	(0.38)	0.00	(2.31)	1.08	(1.05)	61.44
JENYX	1.83	1.05	1.12	(0.38)	0.00	(2.31)	1.08	(1.05)	61.53
MPMNX	0.08	0.00	(0.29)	0.11	0.00	(0.19)	0.25	(0.12)	0.74
DLSNX	0.04	0.00	(0.55)	0.15	0.00	(0.10)	0.10	(0.10)	0.21
DBLSX	0.05	0.00	(0.46)	0.68	0.00	(0.10)	0.10	(0.10)	0.31
MPGFX	0.66	0.02	0.01	0.08	0.83	(0.62)	1.17	(1.37)	4.64
GILDX	0.06	0.00	(0.87)	0.71	0.00	(0.09)	0.12	(0.08)	0.49

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