Diversified Tax Correlations

EXDVX Fund  USD 10.44  0.02  0.19%   
The current 90-days correlation between Diversified Tax Exempt and American Mutual Fund is 0.14 (i.e., Average diversification). The correlation of Diversified Tax 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.

Diversified Tax Correlation With Market

Very good diversification

The correlation between Diversified Tax Exempt and DJI is -0.24 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Diversified Tax Exempt 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 Diversified Tax Exempt. 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 real.

Moving together with Diversified Mutual Fund

  0.61MNBAX Pro-blend(r) ExtendedPairCorr
  0.76MNCPX Unconstrained Bond SeriesPairCorr
  0.86MNCRX Pro-blend(r) ConservativePairCorr
  0.86MNCWX Manning Napier ProPairCorr
  0.62MNBRX Pro-blend(r) ExtendedPairCorr
  0.86MNCCX Pro-blend(r) ConservativePairCorr
  0.86MNCIX Pro-blend(r) ConservativePairCorr
  0.99MNDWX Manning Napier DiverPairCorr
  0.64MNECX Pro-blend(r) ExtendedPairCorr
  0.73MNMCX Pro-blend(r) ModeratePairCorr
  0.71MNMIX Pro-blend(r) ModeratePairCorr
  0.73MNMRX Pro-blend(r) ModeratePairCorr
  0.69MNMWX Manning Napier ProPairCorr
  0.72RAIIX Rainier InternationalPairCorr
  0.72RAIRX Rainier InternationalPairCorr
  0.72RAIWX Manning Napier RainierPairCorr
  0.84MCBWX Manning Napier CorePairCorr
  0.62MCBZX Manning Napier CorePairCorr
  0.86MCDWX Manning Napier CreditPairCorr
  0.72MUBWX Manning Napier UnconPairCorr
  0.72EXBAX Pro-blend(r) ModeratePairCorr
  0.76EXCPX Unconstrained Bond SeriesPairCorr

Moving against Diversified Mutual Fund

  0.39MNDFX Disciplined Value SeriesPairCorr
  0.37CEIIX Manning Napier CallodinePairCorr
  0.37CEIZX Manning Napier CallodinePairCorr
  0.37CEISX Manning Napier CallodinePairCorr
  0.44MEYWX Manning Napier EquityPairCorr
  0.43EXEYX Equity Series ClassPairCorr
  0.4MDVWX Manning Napier DisciPairCorr
  0.39MDFSX Disciplined Value SeriesPairCorr
  0.38MDVZX Manning Napier DisciPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Diversified Mutual Fund performing well and Diversified Tax 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 Diversified Tax'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.