Deutsche Intermediate Correlations

SCMTX Fund  USD 11.03  0.01  0.09%   
The current 90-days correlation between Deutsche Intermediate and Deutsche Global Infrastructure is 0.23 (i.e., Modest diversification). The correlation of Deutsche Intermediate 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.

Deutsche Intermediate Correlation With Market

Significant diversification

The correlation between Deutsche Intermediate Taxamt and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Deutsche Intermediate Taxamt and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Deutsche Intermediate Taxamt. 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 DEUTSCHE Mutual Fund

  0.91VWITX Vanguard Intermediate-terPairCorr
  0.91VWIUX Vanguard Intermediate-terPairCorr
  0.88AFTEX Tax Exempt BondPairCorr
  0.88AFTFX Tax Exempt BondPairCorr
  0.9TEBCX Tax Exempt BondPairCorr
  0.86TEAFX Tax Exempt BondPairCorr
  0.87TFEBX Tax Exempt BondPairCorr
  0.8FLTMX Fidelity IntermediatePairCorr
  0.9MDNLX Blackrock NationalPairCorr
  0.92MFNLX Blackrock Natl MuniPairCorr

Moving against DEUTSCHE Mutual Fund

  0.51FSRBX Banking Portfolio BankingPairCorr
  0.46INPIX Internet UltrasectorPairCorr
  0.46INPSX Internet UltrasectorPairCorr
  0.45DXQLX Direxion Monthly NasdaqPairCorr
  0.44RYVLX Nasdaq 100 2xPairCorr
  0.44RYVYX Nasdaq 100 2xPairCorr
  0.44UOPIX Ultra Nasdaq 100PairCorr
  0.44RYCCX Nasdaq 100 2xPairCorr
  0.44UOPSX Ultranasdaq 100 ProfundPairCorr
  0.36VSEQX Vanguard Strategic EquityPairCorr
  0.31PRDSX T Rowe PricePairCorr
  0.57GUMPX Guggenheim Market NeutralPairCorr
  0.51CPLIX Calamos Phineus LongshortPairCorr
  0.5WWNPX Kinetics Paradigm Steady GrowthPairCorr
  0.49KMKNX Kinetics Market Oppo Steady GrowthPairCorr
  0.47LGPIX Large Cap GrowthPairCorr
  0.47WCEYX Ivy E EquityPairCorr
  0.47SDGTX Deutsche Capital GrowthPairCorr
  0.46AMEIX Equity GrowthPairCorr
  0.43WCPSX Mobile TelecommunicatioPairCorr
  0.43THLCX Thrivent Large CapPairCorr
  0.41TEGYX Mid Cap GrowthPairCorr
  0.38VFMFX Vanguard MultifactorPairCorr
  0.37TRLCX Tiaa-cref Large-capPairCorr
  0.36PWTAX Ubs AllocationPairCorr
  0.36NAESX Vanguard Small CapPairCorr

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   
SLAPXSLANX
SCMTXSLANX
SCMTXSLAPX
SDGTXTOLCX
SCMTXTOLCX
PPLBXTOLCX
  
High negative correlations   
SDGTXSLAPX
SDGTXSLANX
SDGTXSCMTX
SLAPXTOLCX
SLANXTOLCX
DDMAXSDGTX

Risk-Adjusted Indicators

There is a big difference between DEUTSCHE Mutual Fund performing well and Deutsche Intermediate 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 Deutsche Intermediate'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.