Kansas Municipal Correlations

KSITX Fund

USD 9.45 0.01 0.11%

The current 90-days correlation between Kansas Municipal and Ab Discovery Value is -0.29 (i.e., Very good diversification). The correlation of Kansas 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.

Kansas Municipal Correlation With Market

Good diversification

The correlation between Kansas Municipal Fund and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kansas Municipal Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Kansas Municipal Fund. 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 estimate.

Moving together with Kansas Mutual Fund

0.94	VMTIX	Viking Tax Free	Pair Corr
0.69	VMTTX	Viking Tax Free	Pair Corr
0.71	NEMUX	Nebraska Municipal	Pair Corr
0.8	OKMIX	Oklahoma Municipal	Pair Corr
0.78	KSMUX	Kansas Municipal	Pair Corr
0.8	KYTFX	Kentucky Tax Free	Pair Corr
0.76	UVABX	Virginia Bond	Pair Corr
0.91	HULYX	Hawaiian Tax Free	Pair Corr
0.92	HULFX	Hawaiian Tax Free	Pair Corr
0.68	HULAX	Hawaiian Tax Free	Pair Corr

Moving against Kansas Mutual Fund

0.44	ICPUX	Williston Basin/mid-north	Pair Corr
0.43	ICPAX	Williston Basin/mid-north	Pair Corr

Related Correlations Analysis

	ABYSX	ARSMX	UCPIX	AOPAX	ARSVX	AFDVX	CSCVX
ABYSX		0.92	-0.92	-0.35	0.93	0.94	0.02	ABYSX
ARSMX	0.92		-0.93	-0.31	0.99	0.98	0.08	ARSMX
UCPIX	-0.92	-0.93		0.41	-0.95	-0.96	0.06	UCPIX
AOPAX	-0.35	-0.31	0.41		-0.38	-0.31	0.52	AOPAX
ARSVX	0.93	0.99	-0.95	-0.38		0.98	0.0	ARSVX
AFDVX	0.94	0.98	-0.96	-0.31	0.98		0.09	AFDVX
CSCVX	0.02	0.08	0.06	0.52	0.0	0.09		CSCVX
	ABYSX	ARSMX	UCPIX	AOPAX	ARSVX	AFDVX	CSCVX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

ARSVX	+ 0.99	ARSMX
AFDVX	+ 0.98	ARSMX
AFDVX	+ 0.98	ARSVX
AFDVX	+ 0.94	ABYSX
ARSVX	+ 0.93	ABYSX
ARSMX	+ 0.92	ABYSX

High negative correlations

AFDVX	- 0.96	UCPIX
ARSVX	- 0.95	UCPIX
UCPIX	- 0.93	ARSMX
UCPIX	- 0.92	ABYSX
ARSVX	- 0.38	AOPAX
AOPAX	- 0.35	ABYSX

Risk-Adjusted Indicators

There is a big difference between Kansas Mutual Fund performing well and Kansas 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 Kansas 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
ABYSX	0.83	(0.07)	0.00	(8.48)	0.00	0.00	1.43	(2.00)	4.03
ARSMX	0.66	(0.03)	0.00	(0.08)	0.00	0.00	1.13	(1.03)	3.08
UCPIX	1.83	0.24	0.16	(0.16)	1.91	(2.14)	4.57	(3.25)	10.95
AOPAX	0.47	0.08	0.16	0.19	0.51	(0.54)	1.15	(1.13)	3.90
ARSVX	0.67	(0.04)	0.00	(0.09)	0.00	0.00	1.19	(1.50)	3.39
AFDVX	0.79	(0.06)	0.00	(0.11)	0.00	0.00	1.55	(1.87)	4.58
CSCVX	0.33	(0.02)	0.00	(0.12)	0.00	0.00	0.97	(1.11)	4.46

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC