New York Correlations

Mutual Funds . USA . 
Fund . New York Municipal
ANIYX Fund  USD 13.39  0.02  0.15%   
The current 90-days correlation between New York Municipal and Cref Inflation Linked Bond is 0.57 (i.e., Very weak diversification). The correlation of New York 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.

New York Correlation With Market

NewDowDiversified AwayNewDowDiversified Away100%

Average diversification

The correlation between New York Municipal and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New York Municipal and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in New York Municipal. 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 manufacturing.

Moving together with New Mutual Fund

  0.69GCEAX Ab Global EPairCorr
  0.68GCECX Ab Global EPairCorr
  0.69GCEYX Ab Global EPairCorr
  0.87AMNCX Ab Minnesota PortfolioPairCorr
  0.91AMNAX Ab Minnesota PortfolioPairCorr
  0.61AMTZX Ab All MarketPairCorr
  0.61AMTYX Ab All MarketPairCorr
  0.61AMTOX Ab All MarketPairCorr
  0.91ANAZX Ab Global BondPairCorr
  0.91ANAYX Ab Global BondPairCorr
  0.91ANAGX Ab Global BondPairCorr
  0.91ANAIX Ab Global BondPairCorr
  0.91ANACX Ab Global BondPairCorr
  0.81ANBIX Ab Bond InflationPairCorr
  1.0ANIAX New York MunicipalPairCorr
  0.95ANJAX Ab New JerseyPairCorr
  0.94ANJCX Ab New JerseyPairCorr
  0.99ANMCX New York MunicipalPairCorr
  0.91ANYCX Ab New YorkPairCorr
  0.72STEYX International StrategicPairCorr
  0.72STEZX International StrategicPairCorr
  0.72STESX International StrategicPairCorr
  0.85STHAX Ab Sustainable ThematicPairCorr
  0.86STHYX Ab Sustainable ThematicPairCorr
  0.92AOHAX Ab Ohio PortfolioPairCorr
  0.91AOHCX Ab Ohio PortfolioPairCorr
  0.95APAAX Ab Pennsylvania PortfolioPairCorr
  0.95APACX Ab Pennsylvania PortfolioPairCorr

Moving against New Mutual Fund

  0.34SCAVX Ab Small CapPairCorr
  0.34SCCVX Ab Small CapPairCorr
  0.32SCRSX Small Cap CorePairCorr
  0.32SCRYX Small Cap CorePairCorr
  0.37SUTCX Ab Sustainable ThematicPairCorr
  0.36SUTAX Ab Sustainable ThematicPairCorr
  0.36SUTZX Ab Sustainable ThematicPairCorr
  0.36CHCCX Ab Discovery GrowthPairCorr
  0.35CHCLX Ab Discovery GrowthPairCorr
  0.35CHCIX Ab Discovery GrowthPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between New Mutual Fund performing well and New York 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 New York'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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