Delaware Tax-free Correlations

Mutual Funds . USA . 
Fund . Delaware Tax Free New
FTNYX Fund  USD 10.60  0.01  0.09%   
The current 90-days correlation between Delaware Tax Free and Deutsche Health And is 0.12 (i.e., Average 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

Good diversification

The correlation between Delaware Tax Free New and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Delaware Tax Free New 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 New. 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 manufacturing.

Moving together with Delaware Mutual Fund

  0.99IORUX Invesco Rochester NewPairCorr
  0.99RMUYX Oppenheimer RochesterPairCorr
  0.99RMUCX Oppenheimer RochesterPairCorr
  0.99RMUNX Oppenheimer RochesterPairCorr
  1.0VNYUX Vanguard New YorkPairCorr
  1.0VNYTX Vanguard New YorkPairCorr
  1.0FNYAX Franklin New YorkPairCorr
  1.0FKTJX Franklin New YorkPairCorr
  1.0FNYTX Franklin New YorkPairCorr
  1.0FNYIX Franklin New YorkPairCorr
  0.75FIRFX Fidelity Income ReplPairCorr
  0.73TLYRX Tiaa Cref LifecyclePairCorr
  0.73AAAJX American Century OnePairCorr
  0.77WABIX Wells Fargo AdvantagePairCorr
  0.64RBENX American Funds 2060PairCorr
  0.78CLIRX Columbia Capital AllPairCorr
  0.67WISEX Azzad Wise CapitalPairCorr
  0.67FLRDX Franklin LifesmartPairCorr

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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