Munivest Fund Correlations

MVF Fund

USD 7.12 0.09 1.28%

The current 90-days correlation between Munivest Fund and Blackrock Muniyield Quality is 0.62 (i.e., Poor diversification). The correlation of Munivest Fund 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.

Munivest Fund Correlation With Market

Average diversification

The correlation between Munivest Fund and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Munivest 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 Munivest Fund. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Munivest Fund

0.71	CBURX	Columbia Income Builder	Pair Corr
0.69	OWCIX	Old Westbury Credit	Pair Corr
0.7	MNCIX	Pro-blend(r) Conservative	Pair Corr
0.62	WCCFX	Wealthbuilder Conservative	Pair Corr
0.62	TEDPX	Tiaa Cref Emerging	Pair Corr
0.66	RIRFX	Capital Income Builder	Pair Corr
0.87	CITEX	American High Income	Pair Corr
0.8	LBSAX	Columbia Dividend Income	Pair Corr
0.77	CKKRX	Columbia Income Builder	Pair Corr
0.67	PCCFX	Prudential Income Builder	Pair Corr
0.77	IFACX	Income Fund	Pair Corr
0.61	XSWZX	Swiss Helvetia	Pair Corr
0.72	RGLDX	American Funds Global	Pair Corr
0.77	MRDVX	Blackrock Eq Dividend	Pair Corr
0.78	RBBCX	Columbia Income Builder	Pair Corr
0.73	IGFAX	Vy Morgan Stanley	Pair Corr
0.71	MCTAX	Massmutual Retiresmart	Pair Corr

Moving against Munivest Fund

0.51	ABQYX	Ab Intermediate Bond	Pair Corr
0.33	SMPSX	Semiconductor Ultrasector	Pair Corr

Related Correlations Analysis

	MQT	MQY	MHD	MUE	KTF	NXC	MVT	MYD	NMCO	DTF
MQT		0.83	0.88	0.9	0.88	0.71	0.91	0.93	0.83	0.78	MQT
MQY	0.83		0.85	0.92	0.85	0.56	0.71	0.9	0.53	0.54	MQY
MHD	0.88	0.85		0.95	0.85	0.68	0.89	0.96	0.75	0.77	MHD
MUE	0.9	0.92	0.95		0.9	0.65	0.85	0.95	0.66	0.71	MUE
KTF	0.88	0.85	0.85	0.9		0.64	0.86	0.89	0.69	0.68	KTF
NXC	0.71	0.56	0.68	0.65	0.64		0.72	0.66	0.7	0.52	NXC
MVT	0.91	0.71	0.89	0.85	0.86	0.72		0.91	0.91	0.86	MVT
MYD	0.93	0.9	0.96	0.95	0.89	0.66	0.91		0.79	0.8	MYD
NMCO	0.83	0.53	0.75	0.66	0.69	0.7	0.91	0.79		0.89	NMCO
DTF	0.78	0.54	0.77	0.71	0.68	0.52	0.86	0.8	0.89		DTF
	MQT	MQY	MHD	MUE	KTF	NXC	MVT	MYD	NMCO	DTF

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Risk-Adjusted Indicators

There is a big difference between Munivest Fund performing well and Munivest Fund 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 Munivest Fund'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
MQT	0.48	(0.04)	(0.30)	1.02	(0.97)	3.03
MQY	0.51	(0.11)	(0.49)	0.96	(1.18)	2.85
MHD	0.51	(0.09)	(0.70)	0.94	(1.05)	2.80
MUE	0.55	(0.09)	(0.41)	0.99	(1.25)	2.77
KTF	0.38	(0.07)	(0.83)	0.75	(1.13)	2.74
NXC	0.34	(0.01)	(0.14)	0.69	(0.68)	1.98
MVT	0.48	(0.04)	(0.24)	0.93	(1.22)	3.47
MYD	0.47	(0.08)	(0.56)	0.97	(1.06)	2.63
NMCO	0.48	(0.01)	(0.14)	0.92	(1.01)	2.69
DTF	0.32	0.00	0.00	0.72	(0.62)	1.72

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