Maine Municipal Correlations

MEMUX Fund

USD 9.41 0.03 0.32%

The current 90-days correlation between Maine Municipal and Mainstay Conservative Allocation is 0.12 (i.e., Average 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 0.1 (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 employment.

Moving together with Maine Mutual Fund

0.72	HICOX	Colorado Bondshares	Pair Corr
0.9	KYTFX	Kentucky Tax Free	Pair Corr
0.98	UVABX	Virginia Bond	Pair Corr
0.92	HULYX	Hawaiian Tax Free	Pair Corr
0.97	HULFX	Hawaiian Tax Free	Pair Corr
0.95	ORTYX	Aquila Tax Free	Pair Corr
0.89	UVAIX	Usaa Virginia Bond	Pair Corr
0.89	USVAX	Virginia Bond	Pair Corr
0.97	HULAX	Hawaiian Tax Free	Pair Corr
0.61	RYVLX	Nasdaq 100 2x	Pair Corr
0.67	RYCCX	Nasdaq 100 2x	Pair Corr
0.78	PG	Procter Gamble	Pair Corr
0.67	HD	Home Depot	Pair Corr
0.76	VZ	Verizon Communications	Pair Corr

Moving against Maine Mutual Fund

0.5

PFE

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Pair Corr

Related Correlations Analysis

	MCKSX	FPTPX	LIGFX	PDAAX	FARIX	CAARX	PGBAX	GPICX
MCKSX		0.95	0.86	0.65	0.83	0.84	0.76	-0.31	MCKSX
FPTPX	0.95		0.82	0.57	0.72	0.81	0.72	-0.34	FPTPX
LIGFX	0.86	0.82		0.82	0.77	0.86	0.88	0.16	LIGFX
PDAAX	0.65	0.57	0.82		0.54	0.84	0.94	0.35	PDAAX
FARIX	0.83	0.72	0.77	0.54		0.68	0.63	-0.2	FARIX
CAARX	0.84	0.81	0.86	0.84	0.68		0.89	0.0	CAARX
PGBAX	0.76	0.72	0.88	0.94	0.63	0.89		0.23	PGBAX
GPICX	-0.31	-0.34	0.16	0.35	-0.2	0.0	0.23		GPICX
	MCKSX	FPTPX	LIGFX	PDAAX	FARIX	CAARX	PGBAX	GPICX

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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

FPTPX	+ 0.95	MCKSX
PGBAX	+ 0.94	PDAAX
PGBAX	+ 0.89	CAARX
PGBAX	+ 0.88	LIGFX
LIGFX	+ 0.86	MCKSX
CAARX	+ 0.86	LIGFX

High negative correlations

GPICX	- 0.34	FPTPX
GPICX	- 0.31	MCKSX
GPICX	- 0.2	FARIX
GPICX	- 0.0	CAARX

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
MCKSX	0.32	(0.02)	(0.16)	0.00	0.51	(0.30)	0.59	(0.67)	2.41
FPTPX	0.30	(0.03)	(0.17)	(0.02)	0.49	(0.31)	0.53	(0.67)	2.16
LIGFX	0.28	0.00	(0.15)	0.10	0.37	(0.29)	0.62	(0.50)	2.04
PDAAX	0.17	0.01	(0.31)	0.18	0.11	(0.26)	0.52	(0.31)	1.35
FARIX	0.31	(0.02)	0.00	(0.22)	0.00	0.00	0.65	(0.62)	2.12
CAARX	0.25	0.00	(0.20)	0.27	0.35	(0.27)	0.61	(0.50)	2.05
PGBAX	0.15	(0.01)	(0.42)	(0.04)	0.14	(0.20)	0.34	(0.34)	1.01
GPICX	0.04	0.00	0.00	0.55	0.00	0.00	0.10	(0.10)	0.42

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