Correlation Analysis Between Intermediate Bond and American Funds

This module allows you to analyze existing cross correlation between Intermediate Bond Fund Of Ameri and American Funds 2030 Target Date. You can compare the effects of market volatilities on Intermediate Bond and American Funds and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Intermediate Bond with a short position of American Funds. See also your portfolio center. Please also check ongoing floating volatility patterns of Intermediate Bond and American Funds.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

Intermediate Bond Fund  
11

Risk-Adjusted Fund Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Intermediate Bond Fund Of Ameri are ranked lower than 1 (%) of all funds and portfolios of funds over the last 30 days. Inspite fairly strong basic indicators, Intermediate Bond is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
American Funds 2030  
99

Risk-Adjusted Fund Performance

Compared to the overall equity markets, risk-adjusted returns on investments in American Funds 2030 Target Date are ranked lower than 9 (%) of all funds and portfolios of funds over the last 30 days. Inspite fairly strong basic indicators, American Funds is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.

Intermediate Bond and American Funds Volatility Contrast

 Predicted Return Density 
      Returns 

Intermediate Bond Fund Of Amer  vs.  American Funds 2030 Target Dat

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Intermediate Bond is expected to generate 15.89 times less return on investment than American Funds. But when comparing it to its historical volatility, Intermediate Bond Fund Of Ameri is 2.62 times less risky than American Funds. It trades about 0.02 of its potential returns per unit of risk. American Funds 2030 Target Date is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest  1,468  in American Funds 2030 Target Date on November 16, 2019 and sell it today you would earn a total of  54.00  from holding American Funds 2030 Target Date or generate 3.68% return on investment over 30 days.

Pair Corralation between Intermediate Bond and American Funds

-0.44
Time Period3 Months [change]
DirectionNegative 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Intermediate Bond and American Funds

Intermediate Bond Fund Of Amer diversification synergy

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Intermediate Bond Fund Of Amer and American Funds 2030 Target Dat in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on American Funds 2030 and Intermediate Bond is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Intermediate Bond Fund Of Ameri are associated (or correlated) with American Funds. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of American Funds 2030 has no effect on the direction of Intermediate Bond i.e. Intermediate Bond and American Funds go up and down completely randomly.
See also your portfolio center. Please also try Price Ceiling Movement module to calculate and plot price ceiling movement for different equity instruments.


 
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