High-yield Municipal Correlations
| AYMIX Fund | USD 9.03 0.02 0.22% |
The current 90-days correlation between High Yield Municipal and Legg Mason Partners is 0.18 (i.e., Average diversification). The correlation of High-yield Municipal 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.
High-yield Municipal Correlation With Market
Very good diversification
The correlation between High Yield Municipal Fund and DJI is -0.3 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding High Yield Municipal Fund and DJI in the same portfolio, assuming nothing else is changed.
High-yield |
Moving together with High-yield Mutual Fund
| 0.86 | TWTCX | Intermediate Term Tax | PairCorr |
| 0.93 | TWTIX | Intermediate Term Tax | PairCorr |
| 0.61 | TWUSX | Short Term Government | PairCorr |
| 0.9 | TWWOX | Intermediate Term Tax | PairCorr |
Related Correlations Analysis
| 0.25 | 0.26 | 0.25 | 0.26 | SMGXX | ||
| 0.25 | 0.97 | 1.0 | 0.97 | AMAXX | ||
| 0.26 | 0.97 | 0.97 | 1.0 | DSHXX | ||
| 0.25 | 1.0 | 0.97 | 0.97 | IMLXX | ||
| 0.26 | 0.97 | 1.0 | 0.97 | JPAXX | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between High-yield Mutual Fund performing well and High-yield Municipal 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 High-yield Municipal'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.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SMGXX | 0.03 | 0.00 | 0.00 | 0.48 | 0.00 | 0.00 | 1.01 | |||
| AMAXX | 0.03 | 0.01 | 0.00 | (2.04) | 0.00 | 0.00 | 1.01 | |||
| DSHXX | 0.03 | 0.00 | 0.00 | 1.06 | 0.00 | 0.00 | 1.01 | |||
| IMLXX | 0.03 | 0.01 | 0.00 | (2.04) | 0.00 | 0.00 | 1.01 | |||
| JPAXX | 0.03 | 0.00 | 0.00 | 1.06 | 0.00 | 0.00 | 1.01 |