Nebraska Municipal Correlations

NEITX Fund

USD 9.40 0.02 0.21%

The current 90-days correlation between Nebraska Municipal and Colorado Bondshares A is 0.81 (i.e., Very poor diversification). The correlation of Nebraska 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.

Nebraska Municipal Correlation With Market

Very good diversification

The correlation between Nebraska Municipal Fund and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nebraska 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 Nebraska 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 estimate.

Moving together with NEBRASKA Mutual Fund

0.99	VNDFX	Viking Tax Free	Pair Corr
0.99	OKMUX	Oklahoma Municipal	Pair Corr
0.99	OKMIX	Oklahoma Municipal	Pair Corr
0.99	KSMUX	Kansas Municipal	Pair Corr
0.88	KYTFX	Kentucky Tax Free	Pair Corr
0.91	UVABX	Virginia Bond	Pair Corr
0.97	HULYX	Hawaiian Tax Free	Pair Corr
0.88	HULFX	Hawaiian Tax Free	Pair Corr
0.88	ORTYX	Aquila Tax Free	Pair Corr
0.91	UVAIX	Usaa Virginia Bond	Pair Corr
0.91	USVAX	Virginia Bond	Pair Corr
0.97	HULAX	Hawaiian Tax Free	Pair Corr
0.66	MGGAX	Mirova Global Green	Pair Corr
0.7	HLDIX	Hartford Emerging	Pair Corr
0.7	HLDRX	Hartford Emerging	Pair Corr
0.7	HLDAX	Hartford Emerging	Pair Corr
0.7	HLDCX	Hartford Emerging	Pair Corr
0.69	HLDTX	Hartford Emerging	Pair Corr

Moving against NEBRASKA Mutual Fund

0.41	ORFFX	Aquila Tax Free	Pair Corr
0.5	FSRBX	Banking Portfolio Banking	Pair Corr
0.49	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.48	WCEYX	Ivy E Equity	Pair Corr
0.48	SDGTX	Deutsche Capital Growth	Pair Corr
0.48	KMKNX	Kinetics Market Oppo Steady Growth	Pair Corr
0.48	LGPIX	Large Cap Growth	Pair Corr
0.46	AMEIX	Equity Growth	Pair Corr
0.45	THLCX	Thrivent Large Cap	Pair Corr
0.44	WCPSX	Mobile Telecommunicatio	Pair Corr
0.39	TEGYX	Mid Cap Growth	Pair Corr
0.37	VFMFX	Vanguard Multifactor	Pair Corr
0.37	TRLCX	Tiaa-cref Large-cap	Pair Corr
0.36	VSEQX	Vanguard Strategic Equity	Pair Corr
0.36	NAESX	Vanguard Small Cap	Pair Corr
0.31	PRDSX	T Rowe Price	Pair Corr

Related Correlations Analysis

	HICOX	USVAX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP
HICOX		0.42	-0.6	0.0	-0.52	0.67	0.89	0.52	-0.45	0.35	HICOX
USVAX	0.42		0.14	0.0	-0.17	0.03	0.42	0.76	-0.22	0.02	USVAX
444859BR2	-0.6	0.14		0.0	0.22	-0.53	-0.54	-0.03	0.41	-0.41	444859BR2
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.52	-0.17	0.22	0.0		-0.45	-0.35	-0.4	-0.04	0.1	BRRAY
MSTSX	0.67	0.03	-0.53	0.0	-0.45		0.67	0.34	-0.02	-0.08	MSTSX
LBHIX	0.89	0.42	-0.54	0.0	-0.35	0.67		0.51	-0.29	0.22	LBHIX
ABHYX	0.52	0.76	-0.03	0.0	-0.4	0.34	0.51		-0.05	-0.17	ABHYX
SCAXF	-0.45	-0.22	0.41	0.0	-0.04	-0.02	-0.29	-0.05		-0.8	SCAXF
VIASP	0.35	0.02	-0.41	0.0	0.1	-0.08	0.22	-0.17	-0.8		VIASP
	HICOX	USVAX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP

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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

LBHIX	+ 0.89	HICOX
ABHYX	+ 0.76	USVAX
MSTSX	+ 0.67	HICOX
LBHIX	+ 0.67	MSTSX
ABHYX	+ 0.52	HICOX
ABHYX	+ 0.51	LBHIX

High negative correlations

VIASP	- 0.8	SCAXF
444859BR2	- 0.6	HICOX
LBHIX	- 0.54	444859BR2
MSTSX	- 0.53	444859BR2
BRRAY	- 0.52	HICOX
MSTSX	- 0.45	BRRAY

Risk-Adjusted Indicators

There is a big difference between NEBRASKA Mutual Fund performing well and Nebraska 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 Nebraska 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
HICOX	0.13	0.02	(0.31)	(0.28)	0.05	(0.22)	0.34	(0.22)	1.34
USVAX	0.18	0.02	(0.28)	(0.12)	0.22	(0.26)	0.38	(0.38)	1.72
444859BR2	1.35	(0.09)	0.00	(0.14)	0.00	0.00	5.93	(5.79)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.13)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	(0.04)	(0.13)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
LBHIX	0.11	0.01	(0.42)	0.38	0.00	(0.29)	0.24	(0.24)	0.96
ABHYX	0.17	0.00	(0.24)	0.19	0.25	(0.24)	0.34	(0.33)	1.91
SCAXF	0.70	(0.41)	0.00	(0.98)	0.00	0.00	0.00	0.00	23.47
VIASP	0.74	0.07	(0.04)	(2.04)	1.13	(0.80)	2.28	(1.20)	7.18

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