Wilmington Municipal Correlations

WTAIX Fund

USD 12.36 0.01 0.08%

The current 90-days correlation between Wilmington Municipal Bond and Ftufox is 0.39 (i.e., Weak diversification). 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

Average diversification

The correlation between Wilmington Municipal Bond and DJI is 0.12 (i.e., Average 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

0.99	VWITX	Vanguard Intermediate-ter	Pair Corr
0.99	VWIUX	Vanguard Intermediate-ter	Pair Corr
0.96	AFTEX	Tax Exempt Bond	Pair Corr
0.95	AFTFX	Tax Exempt Bond	Pair Corr
0.93	TEBCX	Tax Exempt Bond	Pair Corr
0.97	TEAFX	Tax Exempt Bond	Pair Corr
0.98	TFEBX	Tax Exempt Bond	Pair Corr
0.99	FLTMX	Fidelity Intermediate	Pair Corr
0.93	MDNLX	Blackrock National	Pair Corr
0.88	MFNLX	Blackrock Natl Muni	Pair Corr
0.83	BRUFX	Bruce Fund Bruce	Pair Corr
0.61	PSCAX	Palmer Square Ssi	Pair Corr
0.84	COSNX	Columbia Overseas	Pair Corr
0.89	ARINX	Archer Income	Pair Corr
0.81	PHYGX	Pgim High Yield	Pair Corr
0.82	COSSX	Columbia Overseas Value	Pair Corr
0.86	STCCX	Short Term Income	Pair Corr
0.8	ERSIX	Eaton Vance Short	Pair Corr
0.78	URSBX	Short Term Bond	Pair Corr
0.65	APDOX	Artisan Emerging Markets	Pair Corr

Related Correlations Analysis

	FTUFOX	MFTFX	GMLVX	XHYIX	JAAIX	BXECX	OPTCX	TFAGX
FTUFOX		-0.4	0.37	0.55	0.05	0.26	0.04	-0.04	FTUFOX
MFTFX	-0.4		0.25	-0.03	0.43	0.27	0.19	0.57	MFTFX
GMLVX	0.37	0.25		0.39	0.71	0.72	0.5	0.64	GMLVX
XHYIX	0.55	-0.03	0.39		0.16	0.19	-0.07	0.39	XHYIX
JAAIX	0.05	0.43	0.71	0.16		0.9	0.66	0.64	JAAIX
BXECX	0.26	0.27	0.72	0.19	0.9		0.63	0.47	BXECX
OPTCX	0.04	0.19	0.5	-0.07	0.66	0.63		0.25	OPTCX
TFAGX	-0.04	0.57	0.64	0.39	0.64	0.47	0.25		TFAGX
	FTUFOX	MFTFX	GMLVX	XHYIX	JAAIX	BXECX	OPTCX	TFAGX

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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

BXECX	+ 0.9	JAAIX
BXECX	+ 0.72	GMLVX
JAAIX	+ 0.71	GMLVX
OPTCX	+ 0.66	JAAIX
TFAGX	+ 0.64	GMLVX
TFAGX	+ 0.64	JAAIX

High negative correlations

MFTFX	- 0.4	FTUFOX
OPTCX	- 0.07	XHYIX
TFAGX	- 0.04	FTUFOX
XHYIX	- 0.03	MFTFX

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
FTUFOX	0.10	0.01	0.79	(0.63)	0.00	(0.10)	0.20	(0.17)	0.59
MFTFX	1.20	(0.02)	0.00	1.41	0.00	0.00	2.48	(2.63)	6.97
GMLVX	0.64	0.07	0.13	0.13	0.82	(0.67)	1.15	(1.54)	3.61
XHYIX	0.14	(0.02)	0.00	0.55	0.00	0.00	0.25	(0.49)	1.31
JAAIX	0.16	0.00	0.36	(0.07)	0.16	(0.22)	0.31	(0.31)	1.00
BXECX	0.21	0.02	0.41	(0.51)	0.09	(0.29)	0.54	(0.40)	1.35
OPTCX	0.08	0.00	0.38	(0.07)	0.05	(0.16)	0.21	(0.21)	0.93
TFAGX	0.85	(0.06)	0.00	0.31	0.00	0.00	1.46	(2.06)	5.07

Trending Assets

BXECX

Barings Emerging Markets

7.59 0.02 0.26

OPTCX

Rbb Fund

9.74 0.01 0.10

GMLVX

Guidemark Large Cap

11.58 -0.06 -0.52

XHYIX

Western Asset High

12.19 0.01 0.08

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