DWS Municipal Correlations

KTF Stock

USD 9.37 0.03 0.32%

The current 90-days correlation between DWS Municipal Income and Blackrock Muniyield Quality is 0.55 (i.e., Very weak diversification). The correlation of DWS 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.

DWS Municipal Correlation With Market

Average diversification

The correlation between DWS Municipal Income and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DWS Municipal Income 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 DWS Municipal Income. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with DWS Stock

0.72	V	Visa Class A	Pair Corr
0.74	MA	Mastercard	Pair Corr
0.7	WSBF	Waterstone Financial	Pair Corr
0.66	SNFCA	Security National Earnings Call This Week	Pair Corr
0.72	BBDC	Barings BDC	Pair Corr
0.7	COOP	Mr Cooper Group	Pair Corr
0.73	AC	Associated Capital	Pair Corr
0.63	BK	Bank of New York	Pair Corr

Moving against DWS Stock

0.35	ORGN	Origin Materials	Pair Corr
0.42	PYPL	PayPal Holdings	Pair Corr
0.51	EG	Everest Group	Pair Corr
0.36	KB	KB Financial Group	Pair Corr
0.35	LC	LendingClub Corp	Pair Corr

Related Correlations Analysis

	DTF	MQY	MUI	MUE	JHS	CXE	CXH	CBH	MHD	EOT
DTF		0.58	-0.14	0.76	0.22	0.79	0.86	0.0	0.81	0.72	DTF
MQY	0.58		-0.08	0.9	0.57	0.75	0.72	0.0	0.82	0.72	MQY
MUI	-0.14	-0.08		0.04	-0.08	-0.19	-0.26	0.0	-0.03	0.06	MUI
MUE	0.76	0.9	0.04		0.42	0.82	0.81	0.0	0.93	0.78	MUE
JHS	0.22	0.57	-0.08	0.42		0.51	0.48	0.0	0.26	0.48	JHS
CXE	0.79	0.75	-0.19	0.82	0.51		0.89	0.0	0.8	0.85	CXE
CXH	0.86	0.72	-0.26	0.81	0.48	0.89		0.0	0.8	0.77	CXH
CBH	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	CBH
MHD	0.81	0.82	-0.03	0.93	0.26	0.8	0.8	0.0		0.76	MHD
EOT	0.72	0.72	0.06	0.78	0.48	0.85	0.77	0.0	0.76		EOT
	DTF	MQY	MUI	MUE	JHS	CXE	CXH	CBH	MHD	EOT

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

MHD	+ 0.93	MUE
MUE	+ 0.9	MQY
CXH	+ 0.89	CXE
CXH	+ 0.86	DTF
EOT	+ 0.85	CXE
MHD	+ 0.82	MQY

High negative correlations

CXH	- 0.26	MUI
CXE	- 0.19	MUI
MUI	- 0.14	DTF
JHS	- 0.08	MUI
MUI	- 0.08	MQY
MHD	- 0.03	MUI

Risk-Adjusted Indicators

There is a big difference between DWS Stock performing well and DWS Municipal Company 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 DWS 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
DTF	0.32	0.00	0.12	0.00	0.47	(0.31)	0.72	(0.62)	1.72
MQY	0.52	(0.06)	0.00	(0.30)	0.00	0.00	1.04	(1.18)	2.85
MUI	0.40	0.00	0.00	(0.07)	0.00	0.00	0.58	(1.01)	3.07
MUE	0.55	(0.03)	0.00	(0.20)	0.00	0.00	1.20	(1.25)	2.77
JHS	0.38	0.00	0.11	(0.06)	0.48	(0.40)	0.64	(0.91)	2.23
CXE	0.59	(0.02)	0.00	(0.30)	0.00	0.00	0.82	(1.08)	4.08
CXH	0.38	0.00	0.00	(0.11)	0.00	0.00	0.76	(1.00)	2.37
CBH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MHD	0.50	(0.03)	0.00	(0.32)	0.00	0.00	0.94	(1.03)	2.80
EOT	0.43	0.03	0.16	0.48	0.52	(0.46)	1.01	(0.97)	2.87

DWS Municipal Corporate Management

Ashton CFA	Portfolio Mang	Profile
Rebecca Rimel	Independent Trustee	Profile
Michael Generazo	Portfolio Manager	Profile
William Searcy	Independent Trustee	Profile
John Ballantine	Independent Trustee	Profile
Rebecca Flinn	Portfolio Manager	Profile

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