Victory Tax-exempt Correlations

Mutual Funds . USA . 
Fund . Victory Tax Exempt Fund
RSTYX Fund  USD 8.38  0.01  0.12%   
The current 90-days correlation between Victory Tax Exempt and Gmo High Yield is 0.25 (i.e., Modest diversification). The correlation of Victory Tax-exempt 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.

Victory Tax-exempt Correlation With Market

Modest diversification

The correlation between Victory Tax Exempt Fund and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Victory Tax Exempt Fund 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 Victory Tax Exempt 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 manufacturing.

Moving together with VICTORY Mutual Fund

  0.69VDSCX Victory Diversified StockPairCorr
  0.64VETAX Victory Sycamore EstPairCorr
  0.76USCAX Small Cap StockPairCorr
  0.99USCBX California BondPairCorr
  0.65USCRX Cornerstone ModeratelyPairCorr
  0.74USMIX Extended Market IndexPairCorr
  0.66MCVSX Victory Integrity SmallPairCorr
  0.71RIVCX Victory Rs InvestorsPairCorr
  0.98VWLTX Vanguard Long TermPairCorr
  0.98VWAHX Vanguard High YieldPairCorr
  0.98VWALX Vanguard High YieldPairCorr
  0.97FSMUX Strategic AdvisersPairCorr
  0.98VWLUX Vanguard Long TermPairCorr
  0.99FAFTX Franklin Federal TaxPairCorr
  0.98FFTQX Franklin Federal TaxPairCorr
  0.99FKTIX Franklin Federal TaxPairCorr
  0.99FRFTX Franklin Federal TaxPairCorr
  0.99FFQAX Franklin Federal TaxPairCorr
  0.61VINIX Vanguard InstitutionalPairCorr
  0.66ALCEX Avantis Large CapPairCorr
  0.89LTMIX Thornburg Limited TermPairCorr
  0.64VOLJX Abr 7525 VolatilityPairCorr
  0.75GSWPX Goldman Sachs SmallmidPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between VICTORY Mutual Fund performing well and Victory Tax-exempt 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 Victory Tax-exempt'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.

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