Sit Tax-free Correlations
| SNTYX Fund | USD 8.85 0.02 0.23% |
The current 90-days correlation between Sit Tax Free and Vanguard Intermediate Term Tax Exempt is 0.96 (i.e., Almost no diversification). The correlation of Sit Tax-free 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.
Sit Tax-free Correlation With Market
Very good diversification
The correlation between Sit Tax Free Income and DJI is -0.26 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sit Tax Free Income and DJI in the same portfolio, assuming nothing else is changed.
Sit |
Moving together with Sit Mutual Fund
| 0.98 | SMTFX | Sit Minnesota Tax | PairCorr |
| 0.99 | SNTIX | Sit Tax Free | PairCorr |
| 0.77 | VWITX | Vanguard Intermediate-ter | PairCorr |
| 0.79 | VWIUX | Vanguard Intermediate-ter | PairCorr |
| 0.83 | AFTEX | Tax Exempt Bond | PairCorr |
| 0.83 | AFTFX | Tax Exempt Bond | PairCorr |
| 0.79 | TEBCX | Tax Exempt Bond | PairCorr |
| 0.86 | TEAFX | Tax Exempt Bond | PairCorr |
| 0.85 | TFEBX | Tax Exempt Bond | PairCorr |
| 0.69 | FLTMX | Fidelity Intermediate | PairCorr |
| 0.79 | MDNLX | Blackrock National | PairCorr |
| 0.74 | MFNLX | Blackrock Natl Muni | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Sit Mutual Fund performing well and Sit Tax-free 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 Sit Tax-free'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| VWITX | 0.12 | 0.01 | (0.43) | 0.05 | 0.16 | 0.22 | 1.03 | |||
| VWIUX | 0.12 | 0.01 | (0.42) | 0.03 | 0.16 | 0.29 | 1.10 | |||
| AFTEX | 0.13 | 0.01 | (0.33) | (0.03) | 0.20 | 0.32 | 1.29 | |||
| AFTFX | 0.13 | 0.01 | (0.33) | (0.03) | 0.20 | 0.32 | 1.29 | |||
| TEBCX | 0.13 | 0.01 | (0.33) | 0.00 | 0.20 | 0.32 | 1.29 | |||
| TEAFX | 0.13 | 0.01 | (0.32) | (0.04) | 0.19 | 0.32 | 1.29 | |||
| FLTMX | 0.11 | (0.01) | (0.41) | (0.07) | 0.15 | 0.30 | 1.09 | |||
| MDNLX | 0.14 | 0.01 | (0.40) | (0.01) | 0.16 | 0.30 | 1.09 |