Delaware Tax-free Correlations

Mutual Funds USA . 
Fund . Delaware Tax Free Minnesota
DMNIX Fund  USD 10.98  0.07  0.63%   
The current 90-days correlation between Delaware Tax Free and Barings Emerging Markets is 0.23 (i.e., Modest diversification). The correlation of Delaware Tax-free 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.

Delaware Tax-free Correlation With Market

Significant diversification

The correlation between Delaware Tax Free Minnesota and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Delaware Tax Free Minnesota and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Delaware Tax Free Minnesota. 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 Delaware Mutual Fund

  0.67IMAAX Ivy Apollo MultiPairCorr
  0.63OCFIX Optimum Fixed IncomePairCorr
  0.97CXHYX Delaware National HighPairCorr
  0.98FTNYX Delaware Tax FreePairCorr
  0.99FTORX First Investors TaxPairCorr
  0.99FTOTX First Investors TaxPairCorr
  0.66DLHIX Delaware HealthcarePairCorr
  0.66DLHCX Delaware HealthcarePairCorr
  0.66DLHAX Delaware HealthcarePairCorr
  0.66DLRHX Delaware HealthcarePairCorr
  1.0DMHIX Delaware Minnesota HighPairCorr
  0.99DMOCX Delaware Tax FreePairCorr
  1.0DMTFX Delaware Tax FreePairCorr
  0.98DMUSX Delaware Tax FreePairCorr
  0.98VAZIX Delaware Tax FreePairCorr
  0.8IRSAX Ivy Advantus RealPairCorr
  0.62OIFIX Optimum Fixed IncomePairCorr
  0.99VCTFX Delaware Tax FreePairCorr
  0.67DPCFX Delaware DiversifiedPairCorr
  0.67DPDFX Delaware DiversifiedPairCorr
  0.64DPFFX Delaware DiversifiedPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Delaware Mutual Fund performing well and Delaware Tax-free 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 Delaware Tax-free'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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