Delaware Tax-free Correlations

Mutual Funds . USA . 
Fund . Delaware Tax Free Pennsylvania
DTPIX Fund  USD 7.37  0.01  0.14%   
The current 90-days correlation between Delaware Tax Free and Mfs Diversified Income is 0.4 (i.e., Very weak 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

Average diversification

The correlation between Delaware Tax Free Pennsylvania and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Delaware Tax Free Pennsylvania 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 Pennsylvania. 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

  0.65OASVX Optimum Small MidPairCorr
  0.88IMAAX Ivy Apollo MultiPairCorr
  0.87OCFIX Optimum Fixed IncomePairCorr
  0.84WASAX Ivy Asset StrategyPairCorr
  0.75OCLVX Optimum Large CapPairCorr
  0.69OCLGX Optimum Large CapPairCorr
  0.66OCSVX Optimum Small MidPairCorr
  0.92CXHYX Delaware National HighPairCorr
  0.75WCEAX Ivy E EquityPairCorr
  1.0FTNYX Delaware Tax FreePairCorr
  0.93FTORX First Investors TaxPairCorr
  1.0FTOTX First Investors TaxPairCorr
  0.99DMHIX Delaware Minnesota HighPairCorr
  0.99DMOCX Delaware Tax FreePairCorr
  1.0DMNIX Delaware Tax FreePairCorr
  0.94DMTFX Delaware Tax FreePairCorr
  0.92DMUSX Delaware Tax FreePairCorr
  0.94VAZIX Delaware Tax FreePairCorr
  0.81IRSAX Ivy Advantus RealPairCorr
  0.84OIFIX Optimum Fixed IncomePairCorr
  0.81OILVX Optimum Large CapPairCorr
  0.99VCTFX Delaware Tax FreePairCorr
  0.91DPCFX Delaware DiversifiedPairCorr
  0.9DPDFX Delaware DiversifiedPairCorr
  0.89DPFFX 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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