Georgia Tax Correlations

Mutual Funds . USA . 
Fund . Georgia Tax Free Bond
GTFBX Fund  USD 11.08  0.03  0.27%   
The current 90-days correlation between Georgia Tax Free and Maryland Tax Free Bond is 0.98 (i.e., Almost no diversification). The correlation of Georgia 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Georgia Tax Correlation With Market

Very good diversification

The correlation between Georgia Tax Free Bond and DJI is -0.28 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Georgia Tax Free Bond and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Georgia Tax Free 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 bureau of labor statistics.

Moving together with Georgia Mutual Fund

  0.99TFBIX Maryland Tax FreePairCorr
  0.99TFBVX Virginia Tax FreePairCorr
  0.93TFHAX T Rowe PricePairCorr
  1.0TFILX T Rowe PricePairCorr
  0.66RPLCX T Rowe PricePairCorr

Moving against Georgia Mutual Fund

  0.45RPEIX T Rowe PricePairCorr
  0.44RPIEX T Rowe PricePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Georgia Mutual Fund performing well and Georgia Tax 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 Georgia 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.

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