Kansas Tax Correlations

KTXIX Fund

USD 18.21 0.03 0.17%

The current 90-days correlation between Kansas Tax and The National Tax Free is 0.14 (i.e., Average diversification). The correlation of Kansas 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.

Kansas Tax Correlation With Market

Significant diversification

The correlation between The Kansas Tax Free and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Kansas Tax Free 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 The Kansas Tax Free. 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 gross domestic product.

Moving together with Kansas Mutual Fund

0.73	CFBNX	Bond Fund	Pair Corr
0.93	CFMOX	Missouri Tax	Pair Corr
0.93	CFNLX	National Tax	Pair Corr
0.8	CFSTX	Short Term	Pair Corr
0.89	KYTFX	Kentucky Tax Free	Pair Corr
0.85	UVABX	Virginia Bond	Pair Corr
1.0	HULYX	Hawaiian Tax Free	Pair Corr
0.99	HULFX	Hawaiian Tax Free	Pair Corr
0.99	ORTYX	Aquila Tax Free	Pair Corr
0.84	UVAIX	Usaa Virginia Bond	Pair Corr
0.93	USVAX	Virginia Bond	Pair Corr
1.0	HULAX	Hawaiian Tax Free	Pair Corr

Moving against Kansas Mutual Fund

0.49	SMPIX	Semiconductor Ultrasector Steady Growth	Pair Corr
0.48	SMPSX	Semiconductor Ultrasector Steady Growth	Pair Corr
0.32	FELAX	Fidelity Advisor Sem	Pair Corr

Related Correlations Analysis

	CFNLX	CFMOX	SEKSX	KSMUX
CFNLX		1.0	0.93	0.92	CFNLX
CFMOX	1.0		0.93	0.92	CFMOX
SEKSX	0.93	0.93		0.98	SEKSX
KSMUX	0.92	0.92	0.98		KSMUX
	CFNLX	CFMOX	SEKSX	KSMUX

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Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
CFNLX	0.15	(0.03)	(0.67)	0.22	(0.32)	1.35
CFMOX	0.15	(0.03)	(0.68)	0.27	(0.37)	1.35
SEKSX	0.14	(0.03)	(2.68)	0.20	(0.30)	1.29
KSMUX	0.18	(0.04)	(2.00)	0.31	(0.52)	1.77

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