Nebraska Municipal Correlations

NEMUX Fund

USD 9.11 0.02 0.22%

The current 90-days correlation between Nebraska Municipal and Versatile Bond Portfolio is 0.19 (i.e., Average 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

Good diversification

The correlation between Nebraska Municipal Fund and DJI is -0.01 (i.e., Good 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

0.75	VMTIX	Viking Tax Free	Pair Corr
0.76	VMTTX	Viking Tax Free	Pair Corr
0.88	NEITX	Nebraska Municipal	Pair Corr
0.76	OKMIX	Oklahoma Municipal	Pair Corr
0.88	KSMUX	Kansas Municipal	Pair Corr
0.75	KYTFX	Kentucky Tax Free	Pair Corr
0.95	UVABX	Virginia Bond	Pair Corr
0.8	HULYX	Hawaiian Tax Free	Pair Corr
0.71	HULFX	Hawaiian Tax Free	Pair Corr
0.61	ORTYX	Aquila Tax Free	Pair Corr
0.8	UVAIX	Usaa Virginia Bond	Pair Corr
0.8	USVAX	Virginia Bond	Pair Corr
0.7	HULAX	Hawaiian Tax Free	Pair Corr

Moving against Nebraska Mutual Fund

0.37	ICPAX	Williston Basin/mid-north	Pair Corr
0.37	ICPUX	Williston Basin/mid-north	Pair Corr
0.37	ICWIX	Williston Basin/mid-north	Pair Corr

Related Correlations Analysis

	PRVBX	MBSAX	ABNTX	TTRBX	CBOEX	JAFLX
PRVBX		0.94	0.97	0.97	0.97	0.95	PRVBX
MBSAX	0.94		0.95	0.96	0.94	0.96	MBSAX
ABNTX	0.97	0.95		0.98	0.97	0.97	ABNTX
TTRBX	0.97	0.96	0.98		0.98	0.98	TTRBX
CBOEX	0.97	0.94	0.97	0.98		0.97	CBOEX
JAFLX	0.95	0.96	0.97	0.98	0.97		JAFLX
	PRVBX	MBSAX	ABNTX	TTRBX	CBOEX	JAFLX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PRVBX	0.10	0.01	0.41	0.26	0.00	(0.13)	0.23	(0.17)	0.53
MBSAX	0.18	0.01	0.18	(0.25)	0.19	(0.21)	0.36	(0.30)	1.34
ABNTX	0.16	0.03	0.26	6.03	0.00	(0.21)	0.30	(0.39)	0.99
TTRBX	0.16	0.01	0.22	1.13	0.10	(0.19)	0.40	(0.30)	0.82
CBOEX	0.17	0.02	0.23	0.75	0.11	(0.21)	0.33	(0.32)	0.98
JAFLX	0.25	0.01	0.15	0.34	0.23	(0.30)	0.61	(0.50)	1.44

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