Taxable Municipal Correlations

DUTMX Fund

USD 7.49 0.03 0.40%

The current 90-days correlation between Taxable Municipal Bond and Virtus Seix Government is 0.19 (i.e., Average diversification). The correlation of Taxable Municipal 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.

Taxable Municipal Correlation With Market

Average diversification

The correlation between Taxable Municipal Bond and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Taxable Municipal Bond 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 Taxable Municipal 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 population.

Moving together with Taxable Mutual Fund

0.89	NTFIX	North Carolina Tax	Pair Corr
0.72	KYSMX	Kentucky Tax Free	Pair Corr
0.61	NTSMX	North Carolina Tax	Pair Corr
0.91	KYTFX	Kentucky Tax Free	Pair Corr
0.87	TNTIX	Tennessee Tax Free	Pair Corr
0.89	DUALX	Alabama Tax Free	Pair Corr
0.89	DUMSX	Mississippi Tax Free	Pair Corr
0.69	TTSMX	Tennessee Tax Free	Pair Corr
0.92	VWETX	Vanguard Long Term	Pair Corr
0.9	VWESX	Vanguard Long Term	Pair Corr
0.97	VBLLX	Vanguard Long Term	Pair Corr
0.97	VBLIX	Vanguard Long Term	Pair Corr
0.97	SLDAX	Siit Long Duration	Pair Corr
0.96	VLTCX	Vanguard Long Term	Pair Corr
0.96	VLCIX	Vanguard Long Term	Pair Corr
0.99	PLRIX	Pimco Long Term	Pair Corr
0.99	PLRPX	Pimco Long Duration	Pair Corr
0.82	XDSMX	Dreyfus Strategic	Pair Corr
0.79	XNXJX	Nuveen New Jersey	Pair Corr
0.86	NXJ	Nuveen New Jersey	Pair Corr
0.86	XNBHX	Neuberger Berman Int	Pair Corr
0.72	PAITX	T Rowe Price	Pair Corr
0.61	PFO	Flaherty Crumrine	Pair Corr
0.81	RESAX	Rbc Bluebay Emerging	Pair Corr
0.67	ADVAX	Api Efficient Frontier	Pair Corr

Moving against Taxable Mutual Fund

0.93	DXKSX	Direxion Monthly 7	Pair Corr
0.41	RYCWX	Inverse Dow 2x	Pair Corr

Related Correlations Analysis

	SSAGX	VSIGX	CGTCX	USGFX	BBINX	PMUAX	ATOAX
SSAGX		0.46	0.39	0.45	0.34	0.23	0.97	SSAGX
VSIGX	0.46		0.99	0.99	0.91	0.88	0.27	VSIGX
CGTCX	0.39	0.99		1.0	0.93	0.92	0.21	CGTCX
USGFX	0.45	0.99	1.0		0.94	0.91	0.27	USGFX
BBINX	0.34	0.91	0.93	0.94		0.99	0.18	BBINX
PMUAX	0.23	0.88	0.92	0.91	0.99		0.07	PMUAX
ATOAX	0.97	0.27	0.21	0.27	0.18	0.07		ATOAX
	SSAGX	VSIGX	CGTCX	USGFX	BBINX	PMUAX	ATOAX

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Risk-Adjusted Indicators

There is a big difference between Taxable Mutual Fund performing well and Taxable Municipal 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 Taxable Municipal'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
SSAGX	0.05	0.00	0.28	0.00	0.00	(0.16)	0.10	(0.10)	0.51
VSIGX	0.20	0.01	0.12	0.13	0.17	(0.26)	0.46	(0.30)	1.23
CGTCX	0.24	0.01	0.10	0.12	0.26	(0.29)	0.59	(0.43)	1.56
USGFX	0.24	0.01	0.11	0.13	0.23	(0.32)	0.51	(0.42)	1.55
BBINX	0.13	(0.01)	0.06	(0.14)	0.17	(0.17)	0.29	(0.29)	0.78
PMUAX	0.13	(0.01)	0.05	(0.19)	0.20	(0.16)	0.25	(0.33)	0.82
ATOAX	0.02	0.00	0.00	(0.84)	0.00	0.00	0.00	0.00	0.30

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