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

0.61	MNBAX	Pro-blend(r) Extended	Pair Corr
0.76	MNCPX	Unconstrained Bond Series	Pair Corr
0.86	MNCRX	Pro-blend(r) Conservative	Pair Corr
0.86	MNCWX	Manning Napier Pro	Pair Corr
0.62	MNBRX	Pro-blend(r) Extended	Pair Corr
0.86	MNCCX	Pro-blend(r) Conservative	Pair Corr
0.86	MNCIX	Pro-blend(r) Conservative	Pair Corr
0.99	MNDWX	Manning Napier Diver	Pair Corr
0.64	MNECX	Pro-blend(r) Extended	Pair Corr
0.73	MNMCX	Pro-blend(r) Moderate	Pair Corr
0.71	MNMIX	Pro-blend(r) Moderate	Pair Corr
0.73	MNMRX	Pro-blend(r) Moderate	Pair Corr
0.69	MNMWX	Manning Napier Pro	Pair Corr
0.72	RAIIX	Rainier International	Pair Corr
0.72	RAIRX	Rainier International	Pair Corr
0.72	RAIWX	Manning Napier Rainier	Pair Corr
0.84	MCBWX	Manning Napier Core	Pair Corr
0.62	MCBZX	Manning Napier Core	Pair Corr
0.86	MCDWX	Manning Napier Credit	Pair Corr
0.72	MUBWX	Manning Napier Uncon	Pair Corr
0.72	EXBAX	Pro-blend(r) Moderate	Pair Corr
0.76	EXCPX	Unconstrained Bond Series	Pair Corr

Moving against Diversified Mutual Fund

0.39	MNDFX	Disciplined Value Series	Pair Corr
0.37	CEIIX	Manning Napier Callodine	Pair Corr
0.37	CEIZX	Manning Napier Callodine	Pair Corr
0.37	CEISX	Manning Napier Callodine	Pair Corr
0.44	MEYWX	Manning Napier Equity	Pair Corr
0.43	EXEYX	Equity Series Class	Pair Corr
0.4	MDVWX	Manning Napier Disci	Pair Corr
0.39	MDFSX	Disciplined Value Series	Pair Corr
0.38	MDVZX	Manning Napier Disci	Pair Corr

Related Correlations Analysis

	AMFFX	PCLVX	SBQAX	TAGRX	TFCCX	LMUSX	CBLSX
AMFFX		0.83	0.79	0.8	0.75	0.86	0.81	AMFFX
PCLVX	0.83		0.93	0.97	0.9	0.95	0.96	PCLVX
SBQAX	0.79	0.93		0.92	0.94	0.97	0.88	SBQAX
TAGRX	0.8	0.97	0.92		0.88	0.93	0.94	TAGRX
TFCCX	0.75	0.9	0.94	0.88		0.95	0.86	TFCCX
LMUSX	0.86	0.95	0.97	0.93	0.95		0.89	LMUSX
CBLSX	0.81	0.96	0.88	0.94	0.86	0.89		CBLSX
	AMFFX	PCLVX	SBQAX	TAGRX	TFCCX	LMUSX	CBLSX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
AMFFX	0.45	0.05	(0.12)	2.39	0.43	(0.50)	0.90	(0.86)	2.68
PCLVX	0.50	0.00	(0.05)	0.11	0.34	(0.61)	1.01	(0.91)	3.99
SBQAX	0.64	0.14	0.02	13.63	0.66	(0.78)	1.41	(1.11)	4.87
TAGRX	0.58	(0.01)	(0.03)	0.11	0.73	(0.58)	0.99	(1.43)	4.03
TFCCX	0.50	0.11	(0.02)	(5.13)	0.38	(0.58)	0.93	(0.98)	3.59
LMUSX	0.61	0.12	0.00	2.44	0.73	(0.69)	1.28	(1.49)	4.08
CBLSX	0.49	(0.03)	(0.10)	0.08	0.51	(0.57)	0.94	(1.01)	2.58

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