Tax-exempt Fund Correlations

Mutual Funds . USA . 
Fund . Tax Exempt Fund Of
TECCX Fund  USD 16.81  0.01  0.06%   
The current 90-days correlation between Tax Exempt Fund and Fidelity Sai Convertible is 0.17 (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

Very good diversification

The correlation between Tax Exempt Fund Of and DJI is -0.34 (i.e., Very good 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 main economic indicators.

Moving together with Tax-exempt Mutual Fund

  0.86FPPPX American Funds PresePairCorr
  0.86AMHIX American High IncomePairCorr
  0.92TEBCX Tax Exempt BondPairCorr
  0.9TEAFX Tax Exempt BondPairCorr
  1.0TECFX Tax Exempt FundPairCorr
  0.99TEFEX Tax Exempt FundPairCorr
  0.76AMUSX Us Government SecuritiesPairCorr
  0.88TEPCX American Funds TaxPairCorr
  0.95TEPAX American Funds TaxPairCorr
  0.87TEPFX American Funds TaxPairCorr

Moving against Tax-exempt Mutual Fund

  0.33RNGGX New Economy FundPairCorr
  0.33RNGHX New Economy FundPairCorr
  0.33RNGAX New Economy FundPairCorr
  0.31RNGFX New Economy FundPairCorr
  0.31RNGEX New Economy FundPairCorr
  0.33RNNEX New Economy FundPairCorr

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   
ARBOX
+ 0.97
FSAWX
XNCVX
+ 0.95
PBXCX
ARBOX
+ 0.93
PBXCX
PBXCX
+ 0.91
FSAWX
XNCVX
+ 0.89
FSAWX
ARBOX
+ 0.86
XNCVX
  
High negative correlations   
AVK
- 0.22
CCD
AVK
- 0.13
ARBOX

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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