Intermediate Municipal Correlations

TAXE Etf

51.07 0.05 0.1%

The current 90-days correlation between Intermediate Municipal and NuShares ETF Trust is 0.62 (i.e., Poor diversification). The correlation of Intermediate Municipal 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.

Intermediate Municipal Correlation With Market

Significant diversification

The correlation between Intermediate Municipal Income and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Intermediate Municipal Income and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Intermediate Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Intermediate Municipal Income. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in median.

Moving together with Intermediate Etf

0.94	MUB	iShares National Muni Sell-off Trend	Pair Corr
0.8	VTEB	Vanguard Tax Exempt Sell-off Trend	Pair Corr
0.87	FMB	First Trust Managed	Pair Corr
0.97	ITM	VanEck Intermediate Muni	Pair Corr
0.98	DFNM	Dimensional ETF Trust	Pair Corr
0.97	MMIT	IQ MacKay Municipal	Pair Corr
0.97	HMOP	Hartford Municipal	Pair Corr
0.98	TAXF	American Century Div	Pair Corr
0.98	JMUB	JPMorgan Municipal	Pair Corr
0.9	MUST	Columbia Multi Sector	Pair Corr
0.83	MYCI	SPDR SSGA My2029	Pair Corr
0.64	ZJAN	Innovator Equity Defined	Pair Corr
0.79	SLX	VanEck Steel ETF	Pair Corr
0.61	CPSU	Calamos SP 500	Pair Corr
0.7	APRT	AllianzIM Large Cap	Pair Corr
0.65	AJUL	Innovator Equity Defined	Pair Corr
0.72	ECOW	Pacer Emerging Markets	Pair Corr
0.67	FROG	Jfrog	Pair Corr
0.62	PBJA	PGIM Rock ETF	Pair Corr

Moving against Intermediate Etf

0.41

FOWF

Pacer Solactive Whitney

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.66	0.53	-0.61	0.51	-0.55	0.22	-0.16	-0.53	-0.6	META
MSFT	0.66		0.83	-0.52	0.37	-0.19	0.05	-0.34	-0.77	-0.61	MSFT
UBER	0.53	0.83		-0.61	0.56	-0.23	-0.18	-0.32	-0.85	-0.6	UBER
F	-0.61	-0.52	-0.61		-0.69	0.49	0.32	0.44	0.68	0.75	F
T	0.51	0.37	0.56	-0.69		-0.45	-0.53	-0.26	-0.51	-0.48	T
A	-0.55	-0.19	-0.23	0.49	-0.45		-0.2	-0.27	0.4	0.19	A
CRM	0.22	0.05	-0.18	0.32	-0.53	-0.2		0.41	0.11	0.2	CRM
JPM	-0.16	-0.34	-0.32	0.44	-0.26	-0.27	0.41		0.38	0.44	JPM
MRK	-0.53	-0.77	-0.85	0.68	-0.51	0.4	0.11	0.38		0.66	MRK
XOM	-0.6	-0.61	-0.6	0.75	-0.48	0.19	0.2	0.44	0.66		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

UBER	+ 0.83	MSFT
XOM	+ 0.75	F
MRK	+ 0.68	F
MSFT	+ 0.66	META
XOM	+ 0.66	MRK
T	+ 0.56	UBER

High negative correlations

MRK	- 0.85	UBER
MRK	- 0.77	MSFT
T	- 0.69	F
F	- 0.61	UBER
XOM	- 0.61	MSFT
F	- 0.61	META

Intermediate Municipal Competition Risk-Adjusted Indicators

There is a big difference between Intermediate Etf performing well and Intermediate Municipal ETF 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 Intermediate Municipal'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
META	1.38	(0.27)	0.00	(0.20)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.90	(0.11)	0.00	(0.11)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.46	(0.35)	0.00	(0.25)	0.00	0.00	2.60	(3.82)	10.51
F	1.51	0.13	0.08	0.16	1.68	(1.65)	3.38	(2.63)	16.30
T	0.95	(0.22)	0.00	(0.71)	0.00	0.00	1.61	(2.18)	5.75
A	1.23	0.08	0.06	0.15	1.26	(1.33)	2.34	(2.21)	11.03
CRM	1.54	0.05	0.03	0.13	1.98	(1.51)	3.66	(2.92)	9.91
JPM	1.05	(0.02)	0.00	0.06	1.39	(1.07)	2.00	(1.91)	7.02
MRK	1.44	0.40	0.28	0.54	1.07	(1.80)	4.85	(2.06)	11.45
XOM	0.94	0.05	(0.01)	0.28	0.98	(1.01)	1.96	(1.51)	4.99

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