DWS Municipal Correlations

KTF Stock

USD 9.21 0.01 0.11%

The current 90-days correlation between DWS Municipal Income and Western Asset High is 0.19 (i.e., Average diversification). The correlation of DWS Municipal 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.

DWS Municipal Correlation With Market

Very weak diversification

The correlation between DWS Municipal Income and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DWS Municipal Income and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with DWS Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in DWS Municipal Income. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with DWS Stock

0.63	HHI	Henderson High Income	Pair Corr
0.74	FT	Franklin Universal Closed	Pair Corr
0.79	RA	Brookfield Real Assets	Pair Corr
0.63	WT	WisdomTree	Pair Corr
0.77	VCTR	Victory Capital Holdings	Pair Corr

Moving against DWS Stock

0.56	NP	Neptune Insurance Earnings Call Today	Pair Corr
0.52	55O1	Apollo Investment Corp	Pair Corr
0.52	BX	Blackstone Group	Pair Corr
0.74	MFG	Magellan Financial Earnings Call Today	Pair Corr
0.44	DMYY	dMY Squared Technology	Pair Corr
0.54	TIP	Teaminvest Private	Pair Corr
0.31	OEQ	Orion Equities Earnings Call This Week	Pair Corr
0.31	DYCQ	DT Cloud Acquisition	Pair Corr

Related Correlations Analysis

	HIO	HPF	BFZ	PPT	HIX	BGT	XFLT	VKI	BYM	NCZ
HIO		0.48	0.83	0.83	0.77	0.52	-0.58	0.4	0.71	0.82	HIO
HPF	0.48		0.45	0.58	0.57	0.37	-0.07	0.19	0.35	0.48	HPF
BFZ	0.83	0.45		0.74	0.73	0.5	-0.68	0.45	0.91	0.74	BFZ
PPT	0.83	0.58	0.74		0.87	0.67	-0.33	0.42	0.71	0.78	PPT
HIX	0.77	0.57	0.73	0.87		0.8	-0.22	0.63	0.74	0.85	HIX
BGT	0.52	0.37	0.5	0.67	0.8		0.13	0.75	0.65	0.81	BGT
XFLT	-0.58	-0.07	-0.68	-0.33	-0.22	0.13		-0.11	-0.55	-0.3	XFLT
VKI	0.4	0.19	0.45	0.42	0.63	0.75	-0.11		0.58	0.74	VKI
BYM	0.71	0.35	0.91	0.71	0.74	0.65	-0.55	0.58		0.75	BYM
NCZ	0.82	0.48	0.74	0.78	0.85	0.81	-0.3	0.74	0.75		NCZ
	HIO	HPF	BFZ	PPT	HIX	BGT	XFLT	VKI	BYM	NCZ

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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

BYM	+ 0.91	BFZ
HIX	+ 0.87	PPT
NCZ	+ 0.85	HIX
BFZ	+ 0.83	HIO
PPT	+ 0.83	HIO
NCZ	+ 0.82	HIO

High negative correlations

XFLT	- 0.68	BFZ
XFLT	- 0.58	HIO
BYM	- 0.55	XFLT
XFLT	- 0.33	PPT
NCZ	- 0.3	XFLT
XFLT	- 0.22	HIX

Risk-Adjusted Indicators

There is a big difference between DWS Stock performing well and DWS Municipal Company 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 DWS Municipal'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
HIO	0.42	0.03	0.00	0.19	0.37	(0.51)	0.82	(0.79)	2.18
HPF	0.29	(0.02)	0.00	(0.45)	0.00	0.00	0.57	(0.56)	1.25
BFZ	0.28	0.03	(0.02)	0.55	0.18	(0.35)	0.75	(0.56)	1.82
PPT	0.47	0.02	(0.03)	0.16	0.48	(0.60)	1.13	(0.85)	2.54
HIX	0.49	0.05	0.01	0.62	0.48	(0.60)	1.18	(0.99)	2.49
BGT	0.37	0.00	(0.05)	0.06	0.60	(0.33)	0.65	(0.87)	2.41
XFLT	0.81	(0.19)	0.00	1.04	0.00	0.00	1.61	(1.81)	5.31
VKI	0.41	0.08	0.05	(0.88)	0.40	(0.51)	1.00	(0.91)	2.68
BYM	0.27	0.03	(0.04)	0.55	0.21	(0.36)	0.65	(0.46)	2.12
NCZ	0.71	0.11	0.08	1.04	0.72	(0.78)	1.38	(1.35)	4.02

DWS Municipal Corporate Management

Ashton CFA	Portfolio Mang	Profile
Rebecca Rimel	Independent Trustee	Profile
Michael Generazo	Portfolio Manager	Profile
William Searcy	Independent Trustee	Profile
John Ballantine	Independent Trustee	Profile
Rebecca Flinn	Portfolio Manager	Profile

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