Nebraska Municipal Correlations

Mutual Funds . USA . 
Fund . Nebraska Municipal Fund
NEMUX Fund  USD 9.26  0.01  0.11%   
The current 90-days correlation between Nebraska Municipal and Ft 7934 Corporate is 0.54 (i.e., Very weak diversification). The correlation of Nebraska 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.

Nebraska Municipal Correlation With Market

Average diversification

The correlation between Nebraska Municipal Fund and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nebraska 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 Nebraska 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 employment.

Moving together with Nebraska Mutual Fund

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  0.93VMTTX Viking Tax FreePairCorr
  0.95VNDIX Viking Tax FreePairCorr
  0.99VNDFX Viking Tax FreePairCorr
  1.0NEITX Nebraska MunicipalPairCorr
  0.92OKMUX Oklahoma MunicipalPairCorr
  0.93OKMIX Oklahoma MunicipalPairCorr
  0.73IDHIX Integrity DividendPairCorr
  0.73IDHCX Integrity DividendPairCorr
  0.73IDIVX Integrity DividendPairCorr
  0.95MEIMX Maine MunicipalPairCorr
  0.95MEMUX Maine MunicipalPairCorr
  0.94KSITX Kansas MunicipalPairCorr
  0.95KSMUX Kansas MunicipalPairCorr
  0.68HICOX Colorado BondsharesPairCorr
  0.88KYTFX Kentucky Tax FreePairCorr
  0.96UVABX Virginia BondPairCorr
  0.92HULYX Hawaiian Tax FreePairCorr
  0.91HULFX Hawaiian Tax FreePairCorr
  0.83ORTYX Aquila Tax FreePairCorr
  0.98UVAIX Usaa Virginia BondPairCorr
  0.96USVAX Virginia BondPairCorr
  0.93HULAX Hawaiian Tax FreePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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

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