Wilmington Municipal Correlations

WTAIX Fund

USD 12.31 0.01 0.08%

The correlation of Wilmington Municipal 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.

Wilmington Municipal Correlation With Market

Significant diversification

The correlation between Wilmington Municipal Bond and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wilmington Municipal Bond 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 Wilmington Municipal 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 Wilmington Mutual Fund

0.78	WABMX	Wilmington Broad Market	Pair Corr
0.83	WTABX	Wilmington Municipal Bond	Pair Corr
0.71	WIBMX	Wilmington Broad Market	Pair Corr
0.69	WMRIX	Wilmington Multi-manager	Pair Corr
0.81	WNYAX	Wilmington New York	Pair Corr
0.82	WNYIX	Wilmington New York	Pair Corr
0.93	VWITX	Vanguard Intermediate-ter	Pair Corr
0.93	VWIUX	Vanguard Intermediate-ter	Pair Corr
0.82	AFTEX	Tax Exempt Bond	Pair Corr
0.82	AFTFX	Tax Exempt Bond	Pair Corr
0.92	TEBCX	Tax Exempt Bond	Pair Corr
0.81	TEAFX	Tax Exempt Bond	Pair Corr
0.8	TFEBX	Tax Exempt Bond	Pair Corr
0.93	FLTMX	Fidelity Intermediate	Pair Corr
0.91	MDNLX	Blackrock National	Pair Corr
0.91	MFNLX	Blackrock Natl Muni	Pair Corr
0.71	MGGYX	Mirova Global Green	Pair Corr
0.67	MGGAX	Mirova Global Green	Pair Corr
0.71	BXECX	Barings Emerging Markets	Pair Corr
0.7	BXEIX	Barings Emerging Markets	Pair Corr
0.7	BXEAX	Barings Emerging Markets	Pair Corr
0.71	HLDIX	Hartford Emerging	Pair Corr
0.71	HLDRX	Hartford Emerging	Pair Corr
0.71	HLDAX	Hartford Emerging	Pair Corr
0.69	HLDCX	Hartford Emerging	Pair Corr
0.71	HLDTX	Hartford Emerging	Pair Corr

Related Correlations Analysis

	LCCXX	BIGLX	DIPXX	ICAXX	RYAQX	JGIFX	RGVJX
LCCXX		0.0	0.0	0.0	0.0	0.0	0.0	LCCXX
BIGLX	0.0		-0.77	0.0	-0.95	0.98	0.97	BIGLX
DIPXX	0.0	-0.77		0.0	0.84	-0.76	-0.72	DIPXX
ICAXX	0.0	0.0	0.0		0.0	0.0	0.0	ICAXX
RYAQX	0.0	-0.95	0.84	0.0		-0.97	-0.95	RYAQX
JGIFX	0.0	0.98	-0.76	0.0	-0.97		0.99	JGIFX
RGVJX	0.0	0.97	-0.72	0.0	-0.95	0.99		RGVJX
	LCCXX	BIGLX	DIPXX	ICAXX	RYAQX	JGIFX	RGVJX

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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

RGVJX	+ 0.99	JGIFX
JGIFX	+ 0.98	BIGLX
RGVJX	+ 0.97	BIGLX
RYAQX	+ 0.84	DIPXX
BIGLX	+ 0.0	LCCXX
DIPXX	+ 0.0	LCCXX

High negative correlations

JGIFX	- 0.97	RYAQX
RGVJX	- 0.95	RYAQX
RYAQX	- 0.95	BIGLX
DIPXX	- 0.77	BIGLX
JGIFX	- 0.76	DIPXX
RGVJX	- 0.72	DIPXX

Risk-Adjusted Indicators

There is a big difference between Wilmington Mutual Fund performing well and Wilmington Municipal 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 Wilmington Municipal'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
LCCXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BIGLX	0.22	(0.03)	0.00	0.61	0.00	0.00	0.33	(0.55)	1.44
DIPXX	0.03	0.01	0.00	(0.37)	0.00	0.00	0.00	0.00	1.01
ICAXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RYAQX	0.58	0.15	0.03	(2.39)	0.44	(0.69)	1.52	(1.16)	4.05
JGIFX	0.24	(0.05)	0.00	(0.94)	0.00	0.00	0.50	(0.51)	1.41
RGVJX	0.23	(0.05)	0.00	(0.97)	0.00	0.00	0.41	(0.51)	1.32

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