Maine Municipal Correlations

MEIMX Fund

USD 9.51 0.02 0.21%

The current 90-days correlation between Maine Municipal and Viking Tax Free Fund is 0.98 (i.e., Almost no diversification). The correlation of Maine 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Maine Municipal Correlation With Market

Average diversification

The correlation between Maine Municipal Fund and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Maine Municipal Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Maine Municipal Fund. 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 population.

Moving together with Maine Mutual Fund

0.97	VMTIX	Viking Tax Free	Pair Corr
0.98	VMTTX	Viking Tax Free	Pair Corr
0.98	VNDIX	Viking Tax Free	Pair Corr
0.97	VNDFX	Viking Tax Free	Pair Corr
0.99	NEITX	Nebraska Municipal	Pair Corr
0.99	OKMUX	Oklahoma Municipal	Pair Corr
0.99	OKMIX	Oklahoma Municipal	Pair Corr
0.62	MDSAX	Integrity Short Term	Pair Corr
0.98	KSMUX	Kansas Municipal	Pair Corr
0.98	KYTFX	Kentucky Tax Free	Pair Corr
0.93	UVABX	Virginia Bond	Pair Corr
0.96	HULYX	Hawaiian Tax Free	Pair Corr
0.91	HULFX	Hawaiian Tax Free	Pair Corr
0.97	ORTYX	Aquila Tax Free	Pair Corr
0.92	UVAIX	Usaa Virginia Bond	Pair Corr
0.92	USVAX	Virginia Bond	Pair Corr
0.96	HULAX	Hawaiian Tax Free	Pair Corr

Moving against Maine Mutual Fund

0.57	SMPSX	Semiconductor Ultrasector	Pair Corr
0.53	KNPAX	Kinetics Paradigm Steady Growth	Pair Corr
0.5	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.5	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.49	KMKCX	Kinetics Market Oppo Steady Growth	Pair Corr
0.47	ORFFX	Aquila Tax Free	Pair Corr
0.37	IGIAX	Integrity Growth Income	Pair Corr
0.37	IGIUX	Integrity Growth Income	Pair Corr
0.6	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.56	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.53	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.5	KNPYX	Kinetics Paradigm Steady Growth	Pair Corr
0.5	LSHCX	Horizon Spin Off Steady Growth	Pair Corr
0.49	KMKAX	Kinetics Market Oppo Steady Growth	Pair Corr
0.48	HPQ	HP Inc	Pair Corr
0.46	LLPFX	Longleaf Partners	Pair Corr
0.45	RQECX	Resq Dynamic Allocation	Pair Corr

Related Correlations Analysis

	VMTIX	VMTTX	VNDIX	VNDFX	APAYX	IPAYX	NEITX	NEMUX	ICPAX	ICPUX
VMTIX		1.0	0.96	0.97	0.09	0.09	0.98	0.97	-0.25	-0.25	VMTIX
VMTTX	1.0		0.98	0.98	0.02	0.02	0.99	0.98	-0.3	-0.3	VMTTX
VNDIX	0.96	0.98		1.0	-0.13	-0.13	0.99	0.99	-0.35	-0.35	VNDIX
VNDFX	0.97	0.98	1.0		-0.11	-0.11	0.99	0.99	-0.35	-0.34	VNDFX
APAYX	0.09	0.02	-0.13	-0.11		1.0	-0.04	-0.05	0.47	0.46	APAYX
IPAYX	0.09	0.02	-0.13	-0.11	1.0		-0.04	-0.05	0.47	0.46	IPAYX
NEITX	0.98	0.99	0.99	0.99	-0.04	-0.04		1.0	-0.27	-0.27	NEITX
NEMUX	0.97	0.98	0.99	0.99	-0.05	-0.05	1.0		-0.26	-0.25	NEMUX
ICPAX	-0.25	-0.3	-0.35	-0.35	0.47	0.47	-0.27	-0.26		1.0	ICPAX
ICPUX	-0.25	-0.3	-0.35	-0.34	0.46	0.46	-0.27	-0.25	1.0		ICPUX
	VMTIX	VMTTX	VNDIX	VNDFX	APAYX	IPAYX	NEITX	NEMUX	ICPAX	ICPUX

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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

VMTTX	+ 1.0	VMTIX
VNDFX	+ 1.0	VNDIX
IPAYX	+ 1.0	APAYX
NEMUX	+ 1.0	NEITX
ICPUX	+ 1.0	ICPAX
NEITX	+ 0.99	VMTTX

High negative correlations

ICPAX	- 0.35	VNDFX
ICPUX	- 0.35	VNDIX
ICPAX	- 0.35	VNDIX
ICPUX	- 0.34	VNDFX
ICPUX	- 0.3	VMTTX
ICPAX	- 0.3	VMTTX

Risk-Adjusted Indicators

There is a big difference between Maine Mutual Fund performing well and Maine Municipal 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 Maine 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
VMTIX	0.11	(0.01)	(0.29)	(0.31)	0.19	(0.23)	0.33	(0.33)	1.21
VMTTX	0.11	(0.02)	0.00	(0.37)	0.00	0.00	0.22	(0.33)	1.21
VNDIX	0.14	(0.02)	0.00	(0.39)	0.00	0.00	0.34	(0.45)	1.47
VNDFX	0.14	(0.02)	0.00	(0.37)	0.00	0.00	0.34	(0.45)	1.69
APAYX	0.47	0.03	(0.07)	0.19	0.35	(0.57)	0.90	(0.89)	2.36
IPAYX	0.45	0.03	(0.07)	0.20	0.34	(0.53)	0.90	(0.82)	2.37
NEITX	0.15	(0.02)	0.00	(0.21)	0.00	0.00	0.43	(0.32)	1.62
NEMUX	0.14	(0.02)	0.00	(0.19)	0.00	0.00	0.43	(0.43)	1.51
ICPAX	0.88	0.10	0.07	0.25	0.84	(0.99)	1.77	(1.79)	4.62
ICPUX	0.91	0.10	0.07	0.24	0.88	(1.09)	1.78	(1.89)	4.65

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