Intermediate-term Correlations

Mutual Funds . USA . 
Fund . Intermediate Term Tax Free Bond
ATBYX Fund  USD 10.79  0.01  0.09%   
The current 90-days correlation between Intermediate Term Tax and Flexible Bond Portfolio is 0.64 (i.e., Poor diversification). The correlation of Intermediate-term 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.

Intermediate-term Correlation With Market

Average diversification

The correlation between Intermediate Term Tax Free Bon and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Intermediate Term Tax Free Bon 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 Intermediate Term Tax Free 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 manufacturing.

Moving together with Intermediate-term Mutual Fund

  0.93CDBCX Diversified BondPairCorr
  0.65TWADX Value Fund APairCorr
  0.61AMVYX Mid Cap ValuePairCorr
  0.61AMVGX Mid Cap ValuePairCorr
  0.68TWIEX International GrowthPairCorr
  0.94TWTCX Intermediate Term TaxPairCorr
  1.0TWTIX Intermediate Term TaxPairCorr
  0.68TWSMX Strategic AllocationPairCorr
  0.65TWVLX Value Fund InvestorPairCorr
  0.81ANTMX Nt International SmallPairCorr
  0.79AOCIX One Choice PortfolioPairCorr
  0.68AOGIX One Choice PortfolioPairCorr
  0.72AOMIX One Choice PortfolioPairCorr
  0.83AONIX One Choice PortfolioPairCorr
  0.62AOVIX One Choice PortfolioPairCorr
  0.82BCHYX California High YieldPairCorr
  0.98BCITX California Intermediate-terPairCorr
  0.66BULIX Utilities Fund InvestorPairCorr
  0.69ARDRX One Choice 2040PairCorr
  0.77ARCSX One Choice 2030PairCorr
  0.76AREDX Real Estate FundPairCorr
  0.62AAAUX Strategic Allocation:PairCorr
  0.81AAALX American Century OnePairCorr
  0.73ARYTX Global Real EstatePairCorr
  0.62ASAUX Strategic AllocationPairCorr
  0.61ASTAX Strategic Allocation:PairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Intermediate-term Mutual Fund performing well and Intermediate-term 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 Intermediate-term'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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