Deutsche Managed Correlations

SMLIX Fund

USD 8.22 0.03 0.37%

The current 90-days correlation between Deutsche Managed Mun and Qs Large Cap is 0.04 (i.e., Significant diversification). The correlation of Deutsche Managed 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 Managed Correlation With Market

Very good diversification

The correlation between Deutsche Managed Municipal and DJI is -0.31 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Deutsche Managed Municipal 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 Managed Municipal. 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 gross domestic product.

Moving together with Deutsche Mutual Fund

0.88	VWLTX	Vanguard Long Term	Pair Corr
0.99	VWAHX	Vanguard High Yield	Pair Corr
0.81	VWALX	Vanguard High Yield	Pair Corr
0.88	FSMUX	Strategic Advisers	Pair Corr
0.87	VWLUX	Vanguard Long Term	Pair Corr
0.87	FAFTX	Franklin Federal Tax	Pair Corr
0.97	FFTQX	Franklin Federal Tax	Pair Corr
0.98	FKTIX	Franklin Federal Tax	Pair Corr
0.85	FRFTX	Franklin Federal Tax	Pair Corr
0.98	FFQAX	Franklin Federal Tax	Pair Corr

Moving against Deutsche Mutual Fund

0.38	FSRBX	Banking Portfolio Banking	Pair Corr
0.36	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.33	KMKNX	Kinetics Market Oppo Steady Growth	Pair Corr

Related Correlations Analysis

	LMUSX	WRLDX	OPTCX	FALCX	FFCGX	BBBMX	TWBIX	TMVAX
LMUSX		0.77	0.98	0.0	0.78	0.76	0.79	0.87	LMUSX
WRLDX	0.77		0.77	0.0	0.84	0.55	0.79	0.78	WRLDX
OPTCX	0.98	0.77		0.0	0.76	0.82	0.76	0.88	OPTCX
FALCX	0.0	0.0	0.0		0.0	0.0	0.0	0.0	FALCX
FFCGX	0.78	0.84	0.76	0.0		0.63	0.82	0.62	FFCGX
BBBMX	0.76	0.55	0.82	0.0	0.63		0.56	0.61	BBBMX
TWBIX	0.79	0.79	0.76	0.0	0.82	0.56		0.62	TWBIX
TMVAX	0.87	0.78	0.88	0.0	0.62	0.61	0.62		TMVAX
	LMUSX	WRLDX	OPTCX	FALCX	FFCGX	BBBMX	TWBIX	TMVAX

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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

OPTCX	+ 0.98	LMUSX
TMVAX	+ 0.88	OPTCX
TMVAX	+ 0.87	LMUSX
FFCGX	+ 0.84	WRLDX
BBBMX	+ 0.82	OPTCX
TWBIX	+ 0.82	FFCGX

High negative correlations

TMVAX	- 0.0	FALCX
TWBIX	- 0.0	FALCX
BBBMX	- 0.0	FALCX
FFCGX	- 0.0	FALCX
FALCX	- 0.0	OPTCX
FALCX	- 0.0	WRLDX

Risk-Adjusted Indicators

There is a big difference between Deutsche Mutual Fund performing well and Deutsche Managed 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 Managed'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
LMUSX	0.61	0.12	0.00	2.44	0.73	(0.69)	1.28	(1.49)	4.08
WRLDX	0.48	(0.03)	(0.13)	0.08	0.45	(0.56)	0.92	(0.97)	2.75
OPTCX	0.15	0.03	(0.44)	0.92	0.00	(0.22)	0.32	(0.21)	1.04
FALCX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FFCGX	0.56	(0.05)	(0.11)	0.05	0.71	(0.59)	1.26	(1.23)	3.41
BBBMX	0.05	0.01	(1.06)	(0.64)	0.00	(0.17)	0.10	(0.10)	0.49
TWBIX	0.36	0.02	(0.18)	0.91	0.45	(0.38)	0.77	(0.92)	2.38
TMVAX	0.88	(0.01)	0.02	0.11	0.80	(1.08)	2.28	(1.70)	8.08

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