North Carolina Correlations

Mutual Funds . USA . 
Fund . North Carolina Tax Free
NTFIX Fund  USD 10.60  0.01  0.09%   
The current 90-days correlation between North Carolina Tax and Rbc China Equity is 0.12 (i.e., Average diversification). The correlation of North Carolina 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.

North Carolina Correlation With Market

Average diversification

The correlation between North Carolina Tax Free and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding North Carolina 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 North Carolina 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 North Mutual Fund

  0.69KYSMX Kentucky Tax FreePairCorr
  0.62NTSMX North Carolina TaxPairCorr
  0.99KYTFX Kentucky Tax FreePairCorr
  0.99TNTIX Tennessee Tax FreePairCorr
  0.99DUALX Alabama Tax FreePairCorr
  1.0DUMSX Mississippi Tax FreePairCorr
  0.67DUTMX Taxable Municipal BondPairCorr
  0.62TTSMX Tennessee Tax FreePairCorr
  0.76HICOX Colorado BondsharesPairCorr
  0.9UVABX Virginia BondPairCorr
  0.88HULYX Hawaiian Tax FreePairCorr
  0.96HULFX Hawaiian Tax FreePairCorr
  0.93ORTYX Aquila Tax FreePairCorr
  0.98UVAIX Usaa Virginia BondPairCorr
  0.98USVAX Virginia BondPairCorr
  0.96HULAX Hawaiian Tax FreePairCorr
  0.73MGGYX Mirova Global GreenPairCorr
  0.74MGGAX Mirova Global GreenPairCorr
  0.64GIOIX Guggenheim Macro OppPairCorr
  0.61FIRAX Fidelity InternationalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between North Mutual Fund performing well and North Carolina 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 North Carolina'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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