Tax Exempt Correlations

Mutual Funds . USA . 
Fund . Tax Exempt Short Term
USSTX Fund  USD 10.37  0.01  0.1%   
The current 90-days correlation between Tax Exempt Short and Chartwell Small Cap is -0.01 (i.e., Good diversification). The correlation of Tax Exempt 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 Correlation With Market

Very poor diversification

The correlation between Tax Exempt Short Term and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tax Exempt Short Term 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 Short Term. 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 child.

Moving together with Tax Mutual Fund

  0.84SRVEX Victory Diversified StockPairCorr
  0.9SSGSX Victory Sycamore SmallPairCorr
  0.89SBFCX Victory Incore InvestmentPairCorr
  0.85MMECX Victory Integrity Steady GrowthPairCorr
  0.88MMEAX Victory IntegrityPairCorr
  0.85MNNAX Victory Munder MultiPairCorr
  0.77IPFIX Victory IncorePairCorr
  0.9RSDYX Victory Incore LowPairCorr
  0.8RSEGX Victory Rs Small Potential GrowthPairCorr
  0.88RSDGX Victory Rs SelectPairCorr
  0.81RSFYX Victory Floating RatePairCorr
  0.88RSGGX Victory Rs GlobalPairCorr
  0.69RSGRX Victory Rs GrowthPairCorr
  0.79RSFCX Victory Floating RatePairCorr
  0.87RSFLX Victory Floating RatePairCorr
  0.9RSINX Victory Rs InvestorsPairCorr
  0.93RSIGX Victory Rs InternationalPairCorr
  0.9RSIYX Victory Rs InvestorsPairCorr
  0.63RSMOX Victory Rs MidPairCorr
  0.91RSPFX Victory Rs PartnersPairCorr
  0.92RSNRX Victory Global NaturalPairCorr
  0.91RSNYX Victory Global NaturalPairCorr
  0.91RSPYX Victory Rs PartnersPairCorr
  0.88RSSYX Victory Rs SelectPairCorr
  0.88RSVAX Victory Rs ValuePairCorr
  0.88RSVYX Victory Rs ValuePairCorr
  0.8RSYEX Victory Rs Small Potential GrowthPairCorr
  0.9RSYYX Victory High YieldPairCorr
  0.91VSCVX Victory Integrity SmallPairCorr
  0.91VSVIX Victory Integrity SmallPairCorr
  0.86RCEYX Victory Rs LargePairCorr
  0.85RCOCX Victory Rs LargePairCorr
  0.87RVACX Victory Rs ValuePairCorr
  0.93MAIMX Victory Integrity MidPairCorr
  0.83VDSCX Victory Diversified StockPairCorr
  0.9URFRX Target Retirement 2040PairCorr
  0.9URFFX Target Retirement 2050PairCorr
  0.9URINX Target Retirement IncomePairCorr
  0.89URTRX Target Retirement 2030PairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Tax Mutual Fund performing well and Tax Exempt 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'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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