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 Siit Emerging Markets is 0.11 (i.e., Average 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

Good diversification

The correlation between Shenkman Floating Rate and DJI is -0.04 (i.e., Good 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
  0.97OOSYX Oppenheimer SeniorPairCorr
  0.97OOSIX Oppenheimer SeniorPairCorr
  0.99LFRIX Floating RatePairCorr
  0.99LARCX Floating RatePairCorr
  0.99LFRRX Lord Abbett InvPairCorr
  0.99LFRFX Floating RatePairCorr
  0.98LRRRX Floating RatePairCorr
  0.99LRRTX Floating RatePairCorr
  0.99LRRVX Floating RatePairCorr
  0.99LRRKX Floating RatePairCorr
  0.94PFN Pimco Income StrategyPairCorr
  0.93CIF Mfs Intermediate HighPairCorr
  0.92PCF Putnam High IncomePairCorr
  0.89FKGYGX FkgygxPairCorr
  0.96OLVRX Jpmorgan Large CapPairCorr
  0.98VFINX Vanguard 500 IndexPairCorr
  0.99PFICX Putnam Floating RatePairCorr
  0.77MDHQX Blackrock Total RetPairCorr
  0.97TEMUX Emerging Markets EquityPairCorr
  0.96LKSCX Lkcm Small CapPairCorr
  0.96IIVAX Transamerica Smallmid CapPairCorr
  0.88VFSIX Vanguard Short TermPairCorr
  0.98SEAIX Saat Aggressive StrategyPairCorr
  0.98VYRMX Voya Solution AggressivePairCorr
  0.98ZDIVX Zacks DividendPairCorr
  0.98JCAPX Janus Forty FundPairCorr
  0.95MGPIX Mid Cap GrowthPairCorr

Moving against Shenkman Mutual Fund

  0.6XDSMX Dreyfus StrategicPairCorr
  0.68XNBHX Neuberger Berman IntPairCorr

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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