Nebraska Tax-free Correlations

Mutual Funds USA . 
Fund . Nebraska Tax Free Income
WNTFX Fund  USD 9.69  0.02  0.21%   
The current 90-days correlation between Nebraska Tax Free and Partners Iii Opportunity is -0.15 (i.e., Good diversification). The correlation of Nebraska Tax-free 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.

Nebraska Tax-free Correlation With Market

Very good diversification

The correlation between Nebraska Tax Free Income and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nebraska Tax Free Income and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Nebraska Tax Free 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 census.

Moving together with Nebraska Mutual Fund

  0.73WCPBX Core Plus IncomePairCorr
  0.73WCPNX Core Plus IncomePairCorr
  0.97ANIYX New York MunicipalPairCorr
  0.97SNNYX New York MunicipalPairCorr
  0.75LTBYX Opnhmr RchstrPairCorr
  0.75IORMX Aim Taxexempt FundsPairCorr
  0.84LTNCX Oppenheimer RochesterPairCorr
  0.78LTNYX Opnhmr RchstrPairCorr
  0.9ANMCX New York MunicipalPairCorr
  0.89ANIAX New York MunicipalPairCorr
  0.86SNCAX California MunicipalPairCorr
  0.94AICYX California MunicipalPairCorr
  0.9XDSMX Dreyfus StrategicPairCorr
  0.76XNXJX Nuveen New JerseyPairCorr
  0.72NXJ Nuveen New JerseyPairCorr
  0.84XNBHX Neuberger Berman IntPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Nebraska Mutual Fund performing well and Nebraska Tax-free 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 Nebraska Tax-free'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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