The National Correlations
| CFNLX Fund | USD 18.62 0.03 0.16% |
The current 90-days correlation between National Tax and The Missouri Tax Free is 0.96 (i.e., Almost no diversification). The correlation of The National 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.
The National Correlation With Market
Average diversification
The correlation between The National Tax Free and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The National Tax Free and DJI in the same portfolio, assuming nothing else is changed.
The |
Moving together with The Mutual Fund
| 0.99 | KTXIX | Kansas Tax | PairCorr |
| 0.82 | CFBNX | Bond Fund | PairCorr |
| 0.99 | CFMOX | Missouri Tax | PairCorr |
| 0.69 | CFSTX | Short Term | PairCorr |
| 1.0 | VWITX | Vanguard Intermediate-ter | PairCorr |
| 1.0 | VWIUX | Vanguard Intermediate-ter | PairCorr |
| 0.98 | AFTEX | Tax Exempt Bond | PairCorr |
| 0.98 | AFTFX | Tax Exempt Bond | PairCorr |
| 0.96 | TEBCX | Tax Exempt Bond | PairCorr |
| 0.98 | TEAFX | Tax Exempt Bond | PairCorr |
| 0.98 | TFEBX | Tax Exempt Bond | PairCorr |
| 1.0 | FLTMX | Fidelity Intermediate | PairCorr |
| 0.96 | MDNLX | Blackrock National | PairCorr |
| 0.93 | MFNLX | Blackrock Natl Muni | PairCorr |
| 0.66 | TRGPX | Tiaa-cref Mid-cap | PairCorr |
| 0.74 | AHYRX | High Yield Fund | PairCorr |
Related Correlations Analysis
| 0.83 | 0.98 | 0.97 | 0.99 | CFMOX | ||
| 0.83 | 0.86 | 0.77 | 0.85 | CFBNX | ||
| 0.98 | 0.86 | 0.91 | 0.99 | ABHYX | ||
| 0.97 | 0.77 | 0.91 | 0.92 | FIQZX | ||
| 0.99 | 0.85 | 0.99 | 0.92 | SNTIX | ||
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Risk-Adjusted Indicators
There is a big difference between The Mutual Fund performing well and The National 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 The National'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CFMOX | 0.15 | 0.00 | (0.26) | 0.12 | 0.21 | 0.27 | 1.36 | |||
| CFBNX | 0.24 | (0.02) | 0.00 | (0.15) | 0.00 | 0.68 | 1.58 | |||
| ABHYX | 0.22 | 0.00 | (0.17) | 0.15 | 0.32 | 0.46 | 1.92 | |||
| FIQZX | 0.15 | 0.01 | (0.27) | 0.25 | 0.15 | 0.30 | 1.19 | |||
| SNTIX | 0.22 | 0.00 | (0.17) | 0.07 | 0.34 | 0.46 | 1.84 |