Tax-exempt Fund Correlations

Mutual Funds . USA . 
Fund . Tax Exempt Fund Of
TAFTX Fund  USD 16.69  0.01  0.06%   
The current 90-days correlation between Tax Exempt Fund and Qs Global Equity is 0.13 (i.e., Average diversification). The correlation of Tax-exempt Fund 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 Fund Correlation With Market

Average diversification

The correlation between Tax Exempt Fund Of and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tax Exempt Fund Of 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 Tax Exempt Fund Of. 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 Tax-exempt Mutual Fund

  0.61AMFCX American MutualPairCorr
  0.62AMFFX American MutualPairCorr
  0.63RNCCX American Funds IncomePairCorr
  0.64RNGGX New Economy FundPairCorr
  0.63RNGFX New Economy FundPairCorr
  0.62RNGHX New Economy FundPairCorr
  0.61RNGBX New Economy FundPairCorr
  0.61RNGAX New Economy FundPairCorr
  0.62RNGEX New Economy FundPairCorr
  0.63RNGCX New Economy FundPairCorr
  0.99AMHIX American High IncomePairCorr
  0.99TEBCX Tax Exempt BondPairCorr
  0.99TECCX Tax Exempt FundPairCorr
  1.0TEAFX Tax Exempt BondPairCorr
  0.63FPTPX American Funds ConsePairCorr
  1.0TECFX Tax Exempt FundPairCorr
  1.0TEFEX Tax Exempt FundPairCorr
  0.62RNNEX New Economy FundPairCorr
  0.64CDJAX American Funds CollegePairCorr
  0.7AMPCX Amcap Fund ClassPairCorr
  0.72AMPFX Amcap Fund ClassPairCorr
  0.68RNPBX New PerspectivePairCorr
  0.68RNPAX New PerspectivePairCorr
  0.68RNPHX New PerspectivePairCorr
  0.68RNPGX New PerspectivePairCorr
  0.68RNPCX New PerspectivePairCorr
  0.68RNPFX New PerspectivePairCorr
  0.68RNPEX New PerspectivePairCorr
  0.8AMUSX Us Government SecuritiesPairCorr
  0.95TEPCX American Funds TaxPairCorr
  0.89TEPAX American Funds TaxPairCorr
  0.89TEPFX American Funds TaxPairCorr

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   
LMUSX
+ 0.98
SMYIX
MSTGX
+ 0.86
SMYIX
LMUSX
+ 0.8
MSTGX
TACLX
+ 0.77
SMYIX
DBIWX
+ 0.74
MSTGX
LMUSX
+ 0.74
TACLX
  
High negative correlations   
DBIWX
- 0.11
MSEQX
MSEQX
- 0.11
TACLX

Risk-Adjusted Indicators

There is a big difference between Tax-exempt Mutual Fund performing well and Tax-exempt Fund 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 Fund'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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