Tributary Nebraska Correlations

Mutual Funds . USA . 
Fund . Tributary Nebraska Tax Free
FONPX Fund  USD 9.16  0.02  0.22%   
The current 90-days correlation between Tributary Nebraska Tax and T Rowe Price is 0.14 (i.e., Average diversification). The correlation of Tributary Nebraska 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.

Tributary Nebraska Correlation With Market

Average diversification

The correlation between Tributary Nebraska Tax Free and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tributary Nebraska Tax Free 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 Tributary Nebraska Tax Free. 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 american community survey.

Moving together with Tributary Mutual Fund

  0.81FOIPX Income Fund InstitutionalPairCorr
  0.82FOINX Income Fund InstitutionalPairCorr
  0.74FOSIX Short Intermediate BondPairCorr
  0.67FOSPX Short Intermediate BondPairCorr
  0.95KYTFX Kentucky Tax FreePairCorr
  0.79UVABX Virginia BondPairCorr
  0.93HULYX Hawaiian Tax FreePairCorr
  0.99HULFX Hawaiian Tax FreePairCorr
  0.99ORTYX Aquila Tax FreePairCorr
  0.77UVAIX Usaa Virginia BondPairCorr
  0.77USVAX Virginia BondPairCorr
  0.93HULAX Hawaiian Tax FreePairCorr

Moving against Tributary Mutual Fund

  0.59KSOCX Kinetics Small Cap Steady GrowthPairCorr
  0.59KSCOX Kinetics Small Cap Steady GrowthPairCorr
  0.58KSCYX Kinetics Small Cap Steady GrowthPairCorr
  0.58KNPCX Kinetics Paradigm Steady GrowthPairCorr
  0.58WWNPX Kinetics Paradigm Steady GrowthPairCorr
  0.58KNPAX Kinetics Paradigm Steady GrowthPairCorr
  0.58LSHUX Horizon Spin Off Steady GrowthPairCorr
  0.55KINAX Kinetics InternetPairCorr
  0.52LETRX Voya Russia FundPairCorr
  0.49ORFFX Aquila Tax FreePairCorr
  0.43FOBPX Balanced Fund InstitPairCorr
  0.42FOBAX Balanced Fund InstitPairCorr
  0.4FSMBX Tributary Smallmid CapPairCorr
  0.4FSMCX Tributary Smallmid CapPairCorr
  0.6FSRBX Banking Portfolio BankingPairCorr
  0.57CPLIX Calamos Phineus LongshortPairCorr
  0.57KMKNX Kinetics Market Oppo Steady GrowthPairCorr
  0.56GUMPX Guggenheim Market NeutralPairCorr
  0.55KINCX Kinetics InternetPairCorr
  0.52WCPSX Mobile TelecommunicatioPairCorr
  0.51LGPIX Large Cap GrowthPairCorr
  0.49AMEIX Equity GrowthPairCorr
  0.49SDGTX Deutsche Capital GrowthPairCorr
  0.47WCEYX Ivy E EquityPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
TSMUX
+ 0.99
PASVX
USCAX
+ 0.9
PASVX
TSMUX
+ 0.88
USCAX
JDJAX
+ 0.51
ACDOX
  
High negative correlations   
TSMUX
- 0.7
ACDOX
ACDOX
- 0.65
PASVX
USCAX
- 0.53
ACDOX
JDJAX
- 0.27
PASVX
JDJAX
- 0.26
TSMUX
JDJAX
- 0.19
USCAX

Risk-Adjusted Indicators

There is a big difference between Tributary Mutual Fund performing well and Tributary Nebraska 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 Tributary Nebraska'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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