Delaware Tax-free Correlations

Mutual Funds USA . 
Fund . Delaware Tax Free Usa
DMTFX Fund  USD 10.48  0.01  0.1%   
The current 90-days correlation between Delaware Tax Free and Needham Aggressive Growth is -0.08 (i.e., Good diversification). The correlation of Delaware Tax-free 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.

Delaware Tax-free Correlation With Market

Average diversification

The correlation between Delaware Tax Free Usa and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Delaware Tax Free Usa and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Delaware Tax Free Usa. 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 census.

Moving together with Delaware Mutual Fund

  0.7OASVX Optimum Small MidPairCorr
  0.68IMAAX Ivy Apollo MultiPairCorr
  0.86OCFIX Optimum Fixed IncomePairCorr
  0.73WASAX Ivy Asset StrategyPairCorr
  0.8WSGAX Ivy Small CapPairCorr
  0.61OCLVX Optimum Large CapPairCorr
  0.78OCLGX Optimum Large CapPairCorr
  0.69OCSVX Optimum Small MidPairCorr
  0.91CXHYX Delaware National HighPairCorr
  0.73WCEAX Ivy E EquityPairCorr
  0.99FTNYX Delaware Tax FreePairCorr
  0.98FTORX First Investors TaxPairCorr
  0.98FTOTX First Investors TaxPairCorr
  0.99DMHIX Delaware Minnesota HighPairCorr
  0.92DMOCX Delaware Tax FreePairCorr
  0.99DMNIX Delaware Tax FreePairCorr
  0.98DMUSX Delaware Tax FreePairCorr
  0.99VAZIX Delaware Tax FreePairCorr
  0.69IRSAX Ivy Advantus RealPairCorr
  0.87OIFIX Optimum Fixed IncomePairCorr
  0.79OILGX Optimum Large CapPairCorr
  0.69OILVX Optimum Large CapPairCorr
  0.97VCTFX Delaware Tax FreePairCorr
  0.89DPCFX Delaware DiversifiedPairCorr
  0.86DPDFX Delaware DiversifiedPairCorr
  0.9DPFFX Delaware DiversifiedPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Delaware Mutual Fund performing well and Delaware Tax-free 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 Delaware Tax-free'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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