Shenkman Floating Correlations

Mutual Funds . USA . 
Fund . Shenkman Floating Rate
SFHIX Fund  USD 9.16  0.01  0.11%   
The current 90-days correlation between Shenkman Floating Rate and Western Asset Short is -0.07 (i.e., Good 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 -0.06 (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 gross domestic product.

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
  1.0SFHFX Shenkman Floating RatePairCorr
  0.97OOSYX Oppenheimer SeniorPairCorr
  0.97OOSIX Oppenheimer SeniorPairCorr
  0.99LFRIX Floating RatePairCorr
  0.99LARCX Floating RatePairCorr
  0.98LFRRX Lord Abbett InvPairCorr
  0.98LFRFX Floating RatePairCorr
  0.98LRRRX Floating RatePairCorr
  0.99LRRTX Floating RatePairCorr
  0.99LRRVX Floating RatePairCorr
  0.99LRRKX Floating RatePairCorr
  0.97TSINX T Rowe PricePairCorr
  0.98DQIYX Dreyfus Equity IncomePairCorr
  0.94APHPX Artisan Global UnconPairCorr
  0.97EIFAX Eaton Vance FloatingPairCorr
  0.93HUSEX Huber Capital SmallPairCorr
  0.97PDGCX Prudential Day OnePairCorr
  0.64FNGDX Franklin InternationalPairCorr
  0.95HYT Blackrock Corporate HighPairCorr
  0.96CFWIX Calvert Global WaterPairCorr
  0.97SCMSX Saat E MarketPairCorr
  0.97EQTIX Shelton E ValuePairCorr
  0.98TLATX Transamerica Large CorePairCorr
  0.95OISVX Optimum Small MidPairCorr
  0.74PRLPX Pimco Real ReturnPairCorr
  0.97SEWIX Guggenheim World EquityPairCorr
  0.84PSRCX Pioneer Strategic IncomePairCorr
  0.65MUA Blackrock MuniassetsPairCorr
  0.95WLCVX Large Pany ValuePairCorr
  0.9FTUAX TelecommunicationsPairCorr
  0.95FMUSX Federated MunicipalPairCorr
  0.97ANWFX New PerspectivePairCorr

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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