Tax-free Conservative Correlations

TFCAX Fund

USD 10.00 0.00 0.00%

The correlation of Tax-free Conservative 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-free Conservative Correlation With Market

Good diversification

The correlation between Tax Free Conservative Income and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tax Free Conservative Income 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 Free Conservative Income. 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 nation.

Moving together with Tax-free Mutual Fund

0.71	SSCGX	Simt Small Cap	Pair Corr
0.66	SSMAX	Siit Small Mid	Pair Corr
0.72	SSPIX	Simt Sp 500	Pair Corr
0.89	STDAX	Saat Defensive Strategy	Pair Corr
0.9	ENIAX	Siit Opportunistic Income	Pair Corr
0.64	STLYX	Simt Tax Managed	Pair Corr
0.67	STMSX	Simt Tax Managed	Pair Corr
0.74	SCPAX	Siit Large Cap	Pair Corr
0.77	SUSYX	Simt Managed Volatility	Pair Corr
0.95	SUSAX	Siit Ultra Short	Pair Corr
0.72	SDLAX	Siit Dynamic Asset	Pair Corr
0.71	SVAYX	Simt Large Cap	Pair Corr
0.96	SECYX	Sdit Ultra Short	Pair Corr
0.71	SEUIX	Simt Large Cap	Pair Corr
0.66	SGMAX	Siit Global Managed	Pair Corr
0.88	SGYAX	Siit High Yield	Pair Corr

Moving against Tax-free Mutual Fund

0.64	SCXIX	Sei Insti Mgd	Pair Corr
0.63	SCFYX	Simt E Fixed	Pair Corr
0.62	SCOAX	Siit E Fixed	Pair Corr
0.61	SLDAX	Siit Long Duration	Pair Corr
0.54	SEEIX	Sei Instit International	Pair Corr
0.53	SEFCX	Sit International Equity	Pair Corr
0.51	SIDCX	Siit Intermediate	Pair Corr
0.31	SIEDX	Sit Emerging Markets	Pair Corr

Related Correlations Analysis

	MSTBX	FYMNX	ICAXX	TFBIX	MBSAX	AFB
MSTBX		0.71	0.0	0.76	0.82	0.8	MSTBX
FYMNX	0.71		0.0	0.98	0.73	0.85	FYMNX
ICAXX	0.0	0.0		0.0	0.0	0.0	ICAXX
TFBIX	0.76	0.98	0.0		0.75	0.85	TFBIX
MBSAX	0.82	0.73	0.0	0.75		0.74	MBSAX
AFB	0.8	0.85	0.0	0.85	0.74		AFB
	MSTBX	FYMNX	ICAXX	TFBIX	MBSAX	AFB

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

TFBIX	+ 0.98	FYMNX
AFB	+ 0.85	FYMNX
AFB	+ 0.85	TFBIX
MBSAX	+ 0.82	MSTBX
AFB	+ 0.8	MSTBX
TFBIX	+ 0.76	MSTBX

High negative correlations

AFB	- 0.0	ICAXX
MBSAX	- 0.0	ICAXX
TFBIX	- 0.0	ICAXX
ICAXX	- 0.0	FYMNX
ICAXX	- 0.0	MSTBX

Risk-Adjusted Indicators

There is a big difference between Tax-free Mutual Fund performing well and Tax-free Conservative 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-free Conservative'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
MSTBX	0.09	(0.01)	(0.75)	2.46	0.11	(0.14)	0.21	(0.21)	0.72
FYMNX	0.13	0.01	(0.34)	(0.01)	0.18	(0.19)	0.37	(0.28)	1.39
ICAXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TFBIX	0.15	0.01	(0.31)	(0.01)	0.21	(0.22)	0.40	(0.39)	1.58
MBSAX	0.21	(0.01)	(0.35)	0.07	0.23	(0.23)	0.37	(0.44)	1.48
AFB	0.47	(0.01)	0.00	0.31	0.00	0.00	0.90	(0.94)	2.88

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC