Shenkman Floating Correlations

Mutual Funds . USA . 
Fund . Shenkman Floating Rate
SFHFX Fund  USD 9.16  0.01  0.11%   
The current 90-days correlation between Shenkman Floating Rate and Shenkman Short Duration is 0.61 (i.e., Poor diversification). The correlation of Shenkman Floating 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.

Shenkman Floating Correlation With Market

Average diversification

The correlation between Shenkman Floating Rate 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 Shenkman Floating Rate and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Shenkman Floating Rate. 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 census.

Moving together with Shenkman Mutual Fund

  0.98SCFAX Shenkman Short DurationPairCorr
  0.98SCFCX Shenkman Short DurationPairCorr
  0.98SCFIX Shenkman Short DurationPairCorr
  0.98SCFFX Shenkman Short DurationPairCorr
  1.0SFHIX Shenkman Floating RatePairCorr
  0.99LFRIX Floating RatePairCorr
  0.99LFRRX Lord Abbett InvPairCorr
  0.99LFRFX Floating RatePairCorr
  0.99LRRTX Floating RatePairCorr
  0.92PDI Pimco Dynamic IncomePairCorr
  0.95FTCAX Templeton Strained BondPairCorr
  0.93RIVDX American Funds InterPairCorr
  0.62FODVX Oklahoma College SavingsPairCorr
  0.98BXICX Barings Global CreditPairCorr
  0.9GOCAX Gamco Global OpportunityPairCorr
  0.96SCSIX Sentinel Multi AssetPairCorr
  0.98SWMRX Schwab Target 2045PairCorr
  0.65VRREX Virtus Real EstatePairCorr
  0.64STAFX Wells Fargo LargePairCorr
  0.98CEMKX CemkxPairCorr

Moving against Shenkman Mutual Fund

  0.96USPSX Profunds UltrashortPairCorr
  0.81TCTGX Transamerica CleartrackPairCorr
  0.8TDKTX Cleartrack 2015 ClassPairCorr
  0.96USPIX Profunds UltrashortPairCorr
  0.94UIPIX Ultrashort Mid CapPairCorr
  0.81TCTJX Transamerica CleartrackPairCorr
  0.79TCSUX Cleartrack 2020 ClassPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Shenkman Mutual Fund performing well and Shenkman Floating 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 Shenkman Floating'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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