Tax-exempt High Correlations

Mutual Funds . USA . 
Fund . Tax Exempt High Yield
RTHAX Fund  USD 9.90  0.01  0.10%   
The current 90-days correlation between Tax Exempt High and Scharf Global Opportunity is 0.16 (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

Significant diversification

The correlation between Tax Exempt High Yield and DJI is 0.07 (i.e., Significant 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 nation.

Moving together with TAX-EXEMPT Mutual Fund

  0.81RALAX Growth StrategyPairCorr
  0.77RALCX Growth StrategyPairCorr
  0.81RALSX Growth StrategyPairCorr
  0.76RALRX Growth StrategyPairCorr
  0.77RALVX Growth StrategyPairCorr
  0.79RSBRX Strategic BondPairCorr
  0.68RSCRX Us Small CapPairCorr
  0.69RSECX Us Strategic EquityPairCorr
  0.73RSEAX Us Strategic EquityPairCorr
  0.7RSESX Us Strategic EquityPairCorr
  0.66RAZAX Multi Asset GrowthPairCorr
  0.65RAZCX Multi Asset GrowthPairCorr
  0.61RSQAX Us E EquityPairCorr
  0.98RBCUX Tax Exempt BondPairCorr
  0.79RSYTX Strategic BondPairCorr
  0.77RBLCX Balanced StrategyPairCorr
  0.69RBLAX Balanced StrategyPairCorr
  0.69RBLSX Balanced StrategyPairCorr
  0.76RBLVX Balanced StrategyPairCorr
  0.69RBLRX Balanced StrategyPairCorr
  0.63RTDAX Multifactor EquityPairCorr
  0.63RTDCX Multifactor EquityPairCorr
  0.63RTDYX Select EquityPairCorr
  0.63RTDSX Select EquityPairCorr
  0.63RTDRX Select EquityPairCorr
  0.63RTDTX Select EquityPairCorr
  0.99RTEAX Tax Exempt BondPairCorr
  1.0RTECX Tax Exempt BondPairCorr
  1.0RTHCX Tax Exempt HighPairCorr

Related Correlations Analysis

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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   
CNGLX
+ 0.94
WRLDX
CNGLX
+ 0.85
SMYIX
SMYIX
+ 0.82
WRLDX
RGELX
+ 0.81
SMYIX
RGELX
+ 0.73
WRLDX
RGELX
+ 0.72
ANAZX
  
High negative correlations   
MFIRX
- 0.05
WRLDX
MFIRX
- 0.03
CNGLX

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.

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