Tax-exempt High Correlations

RTHAX Fund

USD 9.72 0.01 0.10%

The current 90-days correlation between Tax Exempt High and Tax Managed Mid Small is -0.11 (i.e., Good 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

Very weak diversification

The correlation between Tax Exempt High Yield and DJI is 0.56 (i.e., Very weak 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

0.63	RNTTX	International Developed	Pair Corr
0.73	RREAX	Global Real Estate	Pair Corr
0.67	RREYX	Global Real Estate	Pair Corr
0.67	RRESX	Global Real Estate	Pair Corr
0.66	RRSCX	Global Real Estate	Pair Corr
0.67	RRSRX	Global Real Estate	Pair Corr
0.68	RALAX	Growth Strategy	Pair Corr
0.65	RALCX	Growth Strategy	Pair Corr
0.65	RALSX	Growth Strategy	Pair Corr
0.65	RALRX	Growth Strategy	Pair Corr
0.65	RALVX	Growth Strategy	Pair Corr
0.65	RSBTX	Short Duration Bond	Pair Corr
0.62	RSBYX	Short Duration Bond	Pair Corr
0.61	RSCRX	Us Small Cap	Pair Corr
0.61	RSDTX	Short Duration Bond	Pair Corr
0.71	RAZAX	Multi Asset Growth	Pair Corr
0.68	RAZCX	Multi Asset Growth	Pair Corr
0.63	RSQAX	Us E Equity	Pair Corr
0.9	RBCUX	Tax Exempt Bond	Pair Corr
0.66	RBLCX	Balanced Strategy	Pair Corr
0.7	RBLAX	Balanced Strategy	Pair Corr
0.66	RBLSX	Balanced Strategy	Pair Corr
0.66	RBLVX	Balanced Strategy	Pair Corr
0.66	RBLRX	Balanced Strategy	Pair Corr
0.91	RTEAX	Tax Exempt Bond	Pair Corr
0.9	RTECX	Tax Exempt Bond	Pair Corr
0.9	RTHCX	Tax Exempt High	Pair Corr

Related Correlations Analysis

	QUAIX	BOSVX	CWSIX	MDBFX	SCYVX	TEMGX	TVOYX	RTOUX
QUAIX		0.75	0.7	0.73	0.77	0.81	0.73	0.83	QUAIX
BOSVX	0.75		0.91	0.8	0.98	0.95	0.93	0.94	BOSVX
CWSIX	0.7	0.91		0.87	0.91	0.95	0.85	0.88	CWSIX
MDBFX	0.73	0.8	0.87		0.83	0.88	0.81	0.86	MDBFX
SCYVX	0.77	0.98	0.91	0.83		0.95	0.96	0.97	SCYVX
TEMGX	0.81	0.95	0.95	0.88	0.95		0.9	0.93	TEMGX
TVOYX	0.73	0.93	0.85	0.81	0.96	0.9		0.98	TVOYX
RTOUX	0.83	0.94	0.88	0.86	0.97	0.93	0.98		RTOUX
	QUAIX	BOSVX	CWSIX	MDBFX	SCYVX	TEMGX	TVOYX	RTOUX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
QUAIX	1.21	0.06	(0.02)	1.20	1.67	(1.15)	2.07	(2.42)	6.53
BOSVX	1.03	0.34	0.35	0.43	0.40	(1.31)	2.84	(1.44)	9.89
CWSIX	1.35	0.60	0.66	0.71	0.00	(1.81)	2.79	(1.20)	28.32
MDBFX	0.11	0.00	(0.49)	0.09	0.04	(0.16)	0.24	(0.24)	0.60
SCYVX	0.85	0.19	0.20	0.28	0.58	(1.07)	2.43	(1.61)	4.78
TEMGX	0.65	0.17	0.12	2.27	0.51	(0.78)	1.69	(1.10)	5.21
TVOYX	0.78	0.17	0.18	0.26	0.58	(0.90)	2.19	(1.33)	5.01
RTOUX	0.77	0.08	0.09	0.17	0.67	(0.82)	2.08	(1.43)	4.39

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Tax-exempt High Correlations

Tax-exempt High Correlation With Market

Very weak diversification

Moving together with Tax-exempt Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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