Kansas Municipal Correlations

KSITX Fund  USD 9.60  0.04  0.42%   
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 -0.02 (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

  0.96VMTIX Viking Tax FreePairCorr
  0.91VMTTX Viking Tax FreePairCorr
  1.0VNDIX Viking Tax FreePairCorr
  0.94VNDFX Viking Tax FreePairCorr
  0.94NEITX Nebraska MunicipalPairCorr
  0.94NEMUX Nebraska MunicipalPairCorr
  0.9OKMUX Oklahoma MunicipalPairCorr
  0.9OKMIX Oklahoma MunicipalPairCorr
  0.66IDHIX Integrity DividendPairCorr
  0.66IDHCX Integrity DividendPairCorr
  0.66IDIVX Integrity DividendPairCorr
  1.0MEIMX Maine MunicipalPairCorr
  0.99MEMUX Maine MunicipalPairCorr
  1.0KSMUX Kansas MunicipalPairCorr
  0.66HICOX Colorado BondsharesPairCorr
  0.86KYTFX Kentucky Tax FreePairCorr
  0.99UVABX Virginia BondPairCorr
  0.89HULYX Hawaiian Tax FreePairCorr
  0.97HULFX Hawaiian Tax FreePairCorr
  0.82ORTYX Aquila Tax FreePairCorr
  0.92UVAIX Usaa Virginia BondPairCorr
  0.99USVAX Virginia BondPairCorr
  0.91HULAX Hawaiian Tax FreePairCorr

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   
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High negative correlations   
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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.