Tax-exempt High Correlations

Mutual Funds . USA . 
Fund . Tax Exempt High Yield
RHYTX Fund  USD 9.90  0.01  0.10%   
The current 90-days correlation between Tax Exempt High and International Developed Markets is 0.12 (i.e., Average diversification). The correlation of Tax-exempt High 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.

Tax-exempt High Correlation With Market

Average diversification

The correlation between Tax Exempt High Yield and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tax Exempt High Yield and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Tax Exempt High Yield. 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 TAX-EXEMPT Mutual Fund

  0.61RREAX Global Real EstatePairCorr
  0.61RREYX Global Real EstatePairCorr
  0.61RRSRX Global Real EstatePairCorr
  0.77RALAX Growth StrategyPairCorr
  0.75RALCX Growth StrategyPairCorr
  0.7RALSX Growth StrategyPairCorr
  0.7RALRX Growth StrategyPairCorr
  0.65RALVX Growth StrategyPairCorr
  0.78RSBRX Strategic BondPairCorr
  0.72RSCRX Us Small CapPairCorr
  0.72RSECX Us Strategic EquityPairCorr
  0.75RSEAX Us Strategic EquityPairCorr
  0.69RSESX Us Strategic EquityPairCorr
  0.7RAZAX Multi Asset GrowthPairCorr
  0.69RAZCX Multi Asset GrowthPairCorr
  0.64RSQAX Us E EquityPairCorr
  0.91RBCUX Tax Exempt BondPairCorr
  0.82RSYTX Strategic BondPairCorr
  0.71RBLCX Balanced StrategyPairCorr
  0.77RBLAX Balanced StrategyPairCorr
  0.77RBLSX Balanced StrategyPairCorr
  0.77RBLVX Balanced StrategyPairCorr
  0.77RBLRX Balanced StrategyPairCorr
  0.64RTDAX Multifactor EquityPairCorr
  0.64RTDCX Multifactor EquityPairCorr
  0.64RTDYX Select EquityPairCorr
  0.64RTDSX Select EquityPairCorr
  0.64RTDRX Select EquityPairCorr
  0.64RTDTX Select EquityPairCorr
  0.88RTEAX Tax Exempt BondPairCorr
  0.92RTECX Tax Exempt BondPairCorr
  0.93RTHAX Tax Exempt HighPairCorr
  0.93RTHCX Tax Exempt HighPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between TAX-EXEMPT Mutual Fund performing well and Tax-exempt High 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 Tax-exempt High'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
RNTTX  0.53  0.00 (0.08) 0.10  0.71 
(0.55)
 1.19 
(1.20)
 3.57 
RREAX  0.75 (0.09) 0.00 (0.15) 0.00 
 0.00 
 1.33 
(1.49)
 4.52 
RREYX  0.75 (0.09) 0.00 (0.14) 0.00 
 0.00 
 1.35 
(1.50)
 4.56 
RRESX  0.74 (0.13) 0.00 (0.24) 0.00 
 0.00 
 1.35 
(1.64)
 4.49 
RRSCX  0.74 (0.14) 0.00 (0.25) 0.00 
 0.00 
 1.37 
(1.70)
 4.56 
RRSRX  0.75 (0.09) 0.00 (0.15) 0.00 
 0.00 
 1.35 
(1.50)
 4.53 
RALAX  0.45 (0.02)(0.11) 0.02  0.70 
(0.44)
 1.03 
(0.86)
 3.65 
RALCX  0.45 (0.01)(0.09) 0.07  0.69 
(0.45)
 1.03 
(0.84)
 3.69 
RALSX  0.45  0.00 (0.08) 0.10  0.66 
(0.47)
 1.07 
(0.83)
 3.63 
RALRX  0.44  0.00 (0.08) 0.10  0.64 
(0.47)
 1.00 
(0.69)
 3.62 

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