New York Correlations

Mutual Funds . USA . 
Fund . New York Municipal
ANMCX Fund  USD 13.41  0.01  0.07%   
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 main economic indicators.

Moving together with New Mutual Fund

  0.66GCEAX Ab Global EPairCorr
  0.65GCECX Ab Global EPairCorr
  0.66GCEYX Ab Global EPairCorr
  0.9AMNCX Ab Minnesota PortfolioPairCorr
  0.93AMNAX Ab Minnesota PortfolioPairCorr
  0.89ANAZX Ab Global BondPairCorr
  0.89ANAYX Ab Global BondPairCorr
  0.89ANAGX Ab Global BondPairCorr
  0.89ANAIX Ab Global BondPairCorr
  0.89ANACX Ab Global BondPairCorr
  0.75ANBIX Ab Bond InflationPairCorr
  0.99ANIAX New York MunicipalPairCorr
  0.96ANJAX Ab New JerseyPairCorr
  0.96ANJCX Ab New JerseyPairCorr
  0.99ANIYX New York MunicipalPairCorr
  0.94ANYCX Ab New YorkPairCorr
  0.65STEYX International StrategicPairCorr
  0.65STEZX International StrategicPairCorr
  0.65STESX International StrategicPairCorr
  0.81STHAX Ab Sustainable ThematicPairCorr
  0.82STHYX Ab Sustainable ThematicPairCorr
  0.94AOHAX Ab Ohio PortfolioPairCorr
  0.94AOHCX Ab Ohio PortfolioPairCorr
  0.94APAAX Ab Pennsylvania PortfolioPairCorr
  0.94APACX Ab Pennsylvania PortfolioPairCorr

Moving against New Mutual Fund

  0.31SUTCX Ab Sustainable ThematicPairCorr

Related Correlations Analysis

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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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