DTF Tax Correlations

DTF Stock  USD 11.20  0.02  0.18%   
The current 90-days correlation between DTF Tax Free and MFS Investment Grade is 0.3 (i.e., Weak diversification). The correlation of DTF Tax 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.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in DTF Tax Free. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with DTF Stock

  0.71V Visa Class APairCorr
  0.64MA MastercardPairCorr
  0.7TWO Two Harbors InvestmentsPairCorr
  0.76COOP Mr Cooper GroupPairCorr
  0.77BK Bank of New YorkPairCorr
  0.73GL Globe LifePairCorr

Moving against DTF Stock

  0.47PYPL PayPal HoldingsPairCorr
  0.4WD Walker DunlopPairCorr
  0.36VEL Velocity Financial LlcPairCorr
  0.32DHIL Diamond Hill InvestmentPairCorr
  0.32AX Axos FinancialPairCorr
  0.31BX Blackstone Group Normal TradingPairCorr
  0.75VALU Value LinePairCorr
  0.54LC LendingClub CorpPairCorr
  0.54WT WisdomTreePairCorr
  0.5EG Everest GroupPairCorr
  0.46VABK Virginia NationalPairCorr
  0.4VBFC Village BankPairCorr
  0.32CM Canadian Imperial BankPairCorr

Related Correlations Analysis

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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   
FMNEOT
MFMEOT
FMNMFM
MFMCMU
MFMCXH
MHNEOT
  
High negative correlations   
FMNIHTA
NXCIHTA
MHNIHTA
MGFIHTA
MFMIHTA
CMUIHTA

Risk-Adjusted Indicators

There is a big difference between DTF Stock performing well and DTF Tax Company 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 DTF Tax'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
CXH  0.42 (0.05) 0.00  0.84  0.00 
 0.76 
 2.56 
CBH  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
EOT  0.47 (0.06) 0.00 (0.34) 0.00 
 1.01 
 2.87 
IHTA  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
CMU  0.42 (0.03) 0.00 (0.22) 0.00 
 0.86 
 2.25 
MFM  0.62 (0.05) 0.00 (0.28) 0.00 
 1.12 
 3.55 
MGF  0.45  0.03  0.13  0.09  0.53 
 0.67 
 1.99 
MHN  0.47 (0.08) 0.00 (0.50) 0.00 
 0.69 
 2.81 
NXC  0.34 (0.01) 0.00 (0.14) 0.00 
 0.69 
 1.98 
FMN  0.44 (0.06) 0.00 (0.45) 0.00 
 0.80 
 3.00