Intermediate Term Correlations

TWTIX Fund

USD 10.78 0.02 0.19%

The current 90-days correlation between Intermediate Term Tax and Saat Moderate Strategy is 0.11 (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 gross domestic product.

Moving together with Intermediate Mutual Fund

0.67	CDBCX	Diversified Bond	Pair Corr
0.81	TWACX	Short Term Government	Pair Corr
0.8	TWARX	Short Term Government	Pair Corr
0.81	TWAVX	Short Term Government	Pair Corr
0.98	TWTCX	Intermediate Term Tax	Pair Corr
0.81	TWUSX	Short Term Government	Pair Corr
0.76	TWUOX	Short Term Government	Pair Corr
0.99	TWWOX	Intermediate Term Tax	Pair Corr

Moving against Intermediate Mutual Fund

0.39	TWCCX	Ultra Fund C	Pair Corr
0.34	TWCIX	Select Fund Investor	Pair Corr
0.34	TWCGX	Growth Fund Investor	Pair Corr
0.32	AMEIX	Equity Growth	Pair Corr
0.31	TWCAX	Select Fund A	Pair Corr
0.39	TWCUX	Ultra Fund Investor	Pair Corr
0.34	TWGIX	Growth Fund I	Pair Corr
0.31	TWRCX	Growth Fund C	Pair Corr
0.31	TWSIX	Select Fund I	Pair Corr
0.35	TWUAX	Ultra Fund A	Pair Corr
0.35	TWUIX	Ultra Fund I	Pair Corr

Related Correlations Analysis

	SMOAX	TBLCX	QLMACX	TBLKX	LPCRX	CMACX	SCGCX	VLSMX
SMOAX		0.76	0.54	0.5	0.86	0.81	0.4	0.7	SMOAX
TBLCX	0.76		0.95	0.87	0.77	0.97	0.84	0.88	TBLCX
QLMACX	0.54	0.95		0.91	0.62	0.89	0.92	0.84	QLMACX
TBLKX	0.5	0.87	0.91		0.74	0.8	0.98	0.93	TBLKX
LPCRX	0.86	0.77	0.62	0.74		0.8	0.65	0.89	LPCRX
CMACX	0.81	0.97	0.89	0.8	0.8		0.77	0.87	CMACX
SCGCX	0.4	0.84	0.92	0.98	0.65	0.77		0.89	SCGCX
VLSMX	0.7	0.88	0.84	0.93	0.89	0.87	0.89		VLSMX
	SMOAX	TBLCX	QLMACX	TBLKX	LPCRX	CMACX	SCGCX	VLSMX

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Risk-Adjusted Indicators

There is a big difference between Intermediate 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SMOAX	0.20	0.00	(0.33)	(0.05)	0.21	(0.24)	0.42	(0.42)	1.10
TBLCX	0.28	0.02	(0.17)	(1.31)	0.31	(0.33)	0.60	(0.59)	1.60
QLMACX	0.40	0.04	(0.08)	(1.57)	0.45	(0.46)	0.86	(0.84)	2.39
TBLKX	0.53	(0.02)	(0.06)	0.06	0.65	(0.57)	1.17	(0.97)	3.27
LPCRX	0.29	(0.03)	(0.20)	0.01	0.34	(0.35)	0.66	(0.54)	1.95
CMACX	0.37	0.01	(0.16)	(0.42)	0.44	(0.38)	0.76	(0.71)	2.07
SCGCX	0.44	(0.02)	(0.07)	0.06	0.52	(0.48)	1.00	(0.71)	2.74
VLSMX	0.36	(0.03)	(0.14)	0.03	0.44	(0.38)	0.77	(0.76)	2.22

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