Intermediate-term Correlations

Mutual Funds . USA . 
Fund . Intermediate Term Tax Free Bond
TWTCX Fund  USD 10.66  0.02  0.19%   
The current 90-days correlation between Intermediate Term Tax and Gamco Global Gold is 0.1 (i.e., Average diversification). The correlation of Intermediate-term 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.

Intermediate-term Correlation With Market

Average diversification

The correlation between Intermediate Term Tax Free Bon 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 Intermediate Term Tax Free Bon 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 Intermediate Term Tax Free Bond. 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 Intermediate-term Mutual Fund

  0.68AMDVX Mid Cap ValuePairCorr
  0.65AMGIX Income GrowthPairCorr
  0.8CDBCX Diversified BondPairCorr
  0.69TWCCX Ultra Fund CPairCorr
  0.65TWCAX Select Fund APairCorr
  0.64TWCIX Select Fund InvestorPairCorr
  0.71TWCGX Growth Fund InvestorPairCorr
  0.68AMVYX Mid Cap ValuePairCorr
  0.62AMVRX Mid Cap ValuePairCorr
  0.74TWBIX Balanced Fund InvestorPairCorr
  0.68AMVGX Mid Cap ValuePairCorr
  0.7TWGIX Growth Fund IPairCorr
  0.74TWHIX Heritage Fund InvestorPairCorr
  0.74TWRCX Growth Fund CPairCorr
  0.99TWTIX Intermediate Term TaxPairCorr
  0.72TWSCX Strategic Allocation:PairCorr
  0.74TWSAX Strategic AllocationPairCorr
  0.77TWSMX Strategic Allocation:PairCorr
  0.63TWSIX Select Fund IPairCorr
  0.64TWVLX Value Fund InvestorPairCorr
  0.61TWUAX Ultra Fund APairCorr
  0.99TWWOX Intermediate Term 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   
UIPMX
+ 0.99
OGMCX
SGDLX
+ 0.99
OGMCX
SGDLX
+ 0.99
UIPMX
SGDIX
+ 0.95
OGMCX
SGDIX
+ 0.95
SGDLX
SGDIX
+ 0.94
UIPMX
  
High negative correlations   
UIPMX
- 0.36
MXKJX
SGDIX
- 0.34
MXKJX
OGMCX
- 0.34
MXKJX
SGDLX
- 0.33
MXKJX
MXKJX
- 0.27
XGGNX

Risk-Adjusted Indicators

There is a big difference between Intermediate-term Mutual Fund performing well and Intermediate-term 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 Intermediate-term'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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