Delaware Tax-free Correlations

DPTCX Fund

USD 7.42 0.01 0.13%

The current 90-days correlation between Delaware Tax Free and Health Biotchnology Portfolio is 0.05 (i.e., Significant 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 Pennsylvania and DJI is 0.17 (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 Pennsylvania 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 Pennsylvania. 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 Delaware Mutual Fund

0.63	IMAAX	Ivy Apollo Multi	Pair Corr
0.64	OCFIX	Optimum Fixed Income	Pair Corr
0.99	CXHYX	Delaware National High	Pair Corr
0.87	FTNYX	Delaware Tax Free	Pair Corr
0.88	FTORX	First Investors Tax	Pair Corr
0.99	FTOTX	First Investors Tax	Pair Corr
0.61	DLTZX	Delaware Limited Term	Pair Corr
0.64	DLTRX	Delaware Limited Term	Pair Corr
0.83	DMHIX	Delaware Minnesota High	Pair Corr
0.87	DMOCX	Delaware Tax Free	Pair Corr
0.85	DMNIX	Delaware Tax Free	Pair Corr
0.98	DMTFX	Delaware Tax Free	Pair Corr
0.99	DMUSX	Delaware Tax Free	Pair Corr
0.99	VAZIX	Delaware Tax Free	Pair Corr
0.73	OIFIX	Optimum Fixed Income	Pair Corr
0.88	VCTFX	Delaware Tax Free	Pair Corr
0.65	DPCFX	Delaware Diversified	Pair Corr
0.75	DPDFX	Delaware Diversified	Pair Corr
0.76	DPFFX	Delaware Diversified	Pair Corr

Moving against Delaware Mutual Fund

0.32	OCLGX	Optimum Large Cap	Pair Corr
0.31	DMO	Western Asset Mortgage	Pair Corr
0.32	OILGX	Optimum Large Cap	Pair Corr

Related Correlations Analysis

	SBHIX	PHLAX	FHCCX	BHCHX	LOGSX	AHSCX
SBHIX		0.83	0.7	0.73	0.93	0.66	SBHIX
PHLAX	0.83		0.82	0.89	0.87	0.81	PHLAX
FHCCX	0.7	0.82		0.95	0.73	0.66	FHCCX
BHCHX	0.73	0.89	0.95		0.74	0.69	BHCHX
LOGSX	0.93	0.87	0.73	0.74		0.81	LOGSX
AHSCX	0.66	0.81	0.66	0.69	0.81		AHSCX
	SBHIX	PHLAX	FHCCX	BHCHX	LOGSX	AHSCX

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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.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
SBHIX	0.63	(0.10)	(0.47)	1.00	(1.27)	4.23
PHLAX	0.63	(0.18)	(0.17)	0.95	(1.38)	5.07
FHCCX	0.69	(0.12)	(0.04)	1.04	(1.31)	4.04
BHCHX	0.65	(0.15)	(0.10)	1.27	(1.32)	4.20
LOGSX	0.61	(0.14)	(0.12)	1.02	(1.16)	3.97
AHSCX	0.57	(0.09)	(0.06)	0.82	(1.25)	4.55

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