The National Correlations

CFNLX Fund

USD 18.55 0.03 0.16%

The current 90-days correlation between National Tax and The Missouri Tax Free is 0.98 (i.e., Almost no diversification). The correlation of The National 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.

The National Correlation With Market

Average diversification

The correlation between The National Tax Free and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The National Tax Free 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 The National Tax Free. 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 bureau of economic analysis.

Moving together with The Mutual Fund

0.99	KTXIX	Kansas Tax	Pair Corr
0.87	CFBNX	Bond Fund	Pair Corr
1.0	CFMOX	Missouri Tax	Pair Corr
0.61	CFSTX	Short Term	Pair Corr
1.0	VWITX	Vanguard Intermediate-ter	Pair Corr
1.0	VWIUX	Vanguard Intermediate-ter	Pair Corr
0.98	AFTEX	Tax Exempt Bond	Pair Corr
0.98	AFTFX	Tax Exempt Bond	Pair Corr
0.96	TEBCX	Tax Exempt Bond	Pair Corr
0.98	TEAFX	Tax Exempt Bond	Pair Corr
0.99	TFEBX	Tax Exempt Bond	Pair Corr
1.0	FLTMX	Fidelity Intermediate	Pair Corr
0.85	MDNLX	Blackrock National	Pair Corr
0.87	MFNLX	Blackrock Natl Muni	Pair Corr
0.89	LIIAX	Columbia Porate Income	Pair Corr
0.9	SRINX	Columbia Porate Income	Pair Corr
0.91	NVG	Nuveen Amt Free	Pair Corr
0.67	PIEFX	Pnc Emerging Markets	Pair Corr
0.88	RYGBX	Government Long Bond	Pair Corr
0.81	TARBX	Touchstone Arbitrage	Pair Corr
0.62	RSFCX	Victory Floating Rate	Pair Corr
0.9	WEDRX	William Blair Emerging	Pair Corr
0.68	CBNAX	American Funds Emerging	Pair Corr
0.71	RBCRX	Rbc Bluebay Absolute	Pair Corr
0.76	JLBHX	Retirement Living Through	Pair Corr
0.88	FBAHX	Fidelity Advisor Tactical	Pair Corr
0.91	GSFUX	Goldman Sachs Bond	Pair Corr

Moving against The Mutual Fund

0.38

CFGRX

Growth Fund

Pair Corr

Related Correlations Analysis

	CFMOX	CFBNX	ABHYX	FIQZX	SNTIX
CFMOX		0.86	0.99	0.99	0.92	CFMOX
CFBNX	0.86		0.83	0.86	0.67	CFBNX
ABHYX	0.99	0.83		0.97	0.95	ABHYX
FIQZX	0.99	0.86	0.97		0.9	FIQZX
SNTIX	0.92	0.67	0.95	0.9		SNTIX
	CFMOX	CFBNX	ABHYX	FIQZX	SNTIX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between The Mutual Fund performing well and The National 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 The National'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
CFMOX	0.14	(0.01)	0.00	(0.53)	0.00	0.00	0.27	(0.38)	0.87
CFBNX	0.25	0.01	0.14	0.31	0.25	(0.27)	0.57	(0.50)	1.38
ABHYX	0.20	(0.02)	0.00	(0.69)	0.00	0.00	0.45	(0.45)	1.25
FIQZX	0.13	(0.01)	0.00	(0.57)	0.00	0.00	0.30	(0.39)	0.70
SNTIX	0.20	(0.03)	0.00	(0.67)	0.00	0.00	0.35	(0.57)	1.27

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