California Municipal Correlations

Mutual Funds . USA . 
Fund . California Municipal Portfolio
AICAX Fund  USD 13.93  0.01  0.07%   
The current 90-days correlation between California Municipal and Allianzgi Technology Fund is 0.11 (i.e., Average diversification). The correlation of California 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.

California Municipal Correlation With Market

Average diversification

The correlation between California Municipal Portfolio and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding California Municipal Portfolio and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in California Municipal Portfolio. 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 nation.

Moving together with California Mutual Fund

  0.77GCEAX Ab Global EPairCorr
  0.77GCECX Ab Global EPairCorr
  0.77GCEYX Ab Global EPairCorr
  0.89AMNCX Ab Minnesota PortfolioPairCorr
  0.88AMNAX Ab Minnesota PortfolioPairCorr
  0.96ANAZX Ab Global BondPairCorr
  0.82ANAGX Ab Global BondPairCorr
  0.95ANACX Ab Global BondPairCorr
  0.98ANIAX New York MunicipalPairCorr
  0.96ANJAX Ab New JerseyPairCorr
  0.96ANIYX New York MunicipalPairCorr
  0.99ANMCX New York MunicipalPairCorr
  0.94STHAX Ab Sustainable ThematicPairCorr
  0.95STHYX Ab Sustainable ThematicPairCorr
  0.89ARECX Ab Global RealPairCorr
  0.69CIAGX Ab Centrated InternaPairCorr
  0.9ARIIX Ab Global RealPairCorr
  0.69CIGYX Ab Centrated InternaPairCorr
  0.68ASCLX Ab Select LongshortPairCorr
  0.69ASLAX Ab Select LongshortPairCorr
  0.95AAZYX Ab Municipal IncomePairCorr
  0.78ASYLX Ab Select LongshortPairCorr
  0.93ABIMX Ab Impact MunicipalPairCorr
  0.63ABICX Ab International ValuePairCorr
  0.62ABIYX Ab International ValuePairCorr
  0.65ABNCX Ab Bond InflationPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between California Mutual Fund performing well and California 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 California 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.

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