Virtus Tax-exempt Correlations
| PXCZX Fund | USD 10.15 0.02 0.20% |
The current 90-days correlation between Virtus Tax Exempt and Limited Term Tax is 0.96 (i.e., Almost no diversification). The correlation of Virtus Tax-exempt 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.
Virtus Tax-exempt Correlation With Market
Significant diversification
The correlation between Virtus Tax Exempt Bond and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Virtus Tax Exempt Bond and DJI in the same portfolio, assuming nothing else is changed.
Virtus |
Moving together with Virtus Mutual Fund
| 0.77 | VMSAX | Vanguard Multi Sector | PairCorr |
| 0.68 | VMSSX | Virtus Multi Sector | PairCorr |
| 0.84 | HYIZX | Ridgeworth Seix High | PairCorr |
| 0.82 | HYPSX | Ridgeworth Seix High | PairCorr |
| 0.72 | SAMFX | Ridgeworth Seix Total | PairCorr |
| 0.65 | SAMBX | Ridgeworth Seix Floating | PairCorr |
| 0.85 | SAMHX | Ridgeworth Seix High | PairCorr |
| 0.72 | SAMZX | Ridgeworth Seix Total | PairCorr |
| 0.73 | PXIIX | Virtus Rampart Enhanced | PairCorr |
| 0.77 | SAVAX | Virtus Bond Fund | PairCorr |
| 0.77 | SAVCX | Virtus Bond Fund | PairCorr |
| 0.74 | SAVYX | Virtus Bond Fund | PairCorr |
| 0.88 | PGHCX | Virtus High Yield | PairCorr |
| 0.72 | PGICX | Virtus Rampart Enhanced | PairCorr |
| 0.7 | HIBIX | Virtus Low Duration | PairCorr |
| 0.71 | STGIX | Ridgeworth Seix E | PairCorr |
| 0.72 | STGZX | Ridgeworth Seix E | PairCorr |
| 0.72 | STIGX | Ridgeworth Seix E | PairCorr |
| 0.69 | HIMZX | Virtus Low Duration | PairCorr |
| 0.83 | PHCHX | Virtus High Yield | PairCorr |
| 0.86 | PHCIX | Virtus High Yield | PairCorr |
| 0.99 | STTBX | Ridgeworth Seix Inve | PairCorr |
Related Correlations Analysis
| 0.99 | 0.89 | 0.96 | 0.91 | 0.95 | 0.85 | LTXFX | ||
| 0.99 | 0.84 | 0.99 | 0.85 | 0.98 | 0.77 | HHMYX | ||
| 0.89 | 0.84 | 0.78 | 0.89 | 0.78 | 0.93 | RGVAX | ||
| 0.96 | 0.99 | 0.78 | 0.78 | 1.0 | 0.7 | TWTIX | ||
| 0.91 | 0.85 | 0.89 | 0.78 | 0.76 | 0.94 | FMUUX | ||
| 0.95 | 0.98 | 0.78 | 1.0 | 0.76 | 0.68 | HMKAX | ||
| 0.85 | 0.77 | 0.93 | 0.7 | 0.94 | 0.68 | TWACX | ||
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Risk-Adjusted Indicators
There is a big difference between Virtus Mutual Fund performing well and Virtus Tax-exempt 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 Virtus Tax-exempt'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| LTXFX | 0.10 | 0.00 | 0.16 | (0.27) | 0.12 | 0.26 | 0.65 | |||
| HHMYX | 0.14 | (0.01) | 0.10 | (0.35) | 0.19 | 0.36 | 0.84 | |||
| RGVAX | 0.25 | 0.02 | 0.15 | 0.69 | 0.25 | 0.60 | 1.56 | |||
| TWTIX | 0.14 | (0.01) | 0.00 | (0.47) | 0.00 | 0.37 | 0.94 | |||
| FMUUX | 0.03 | 0.00 | 0.00 | (0.06) | 0.00 | 0.10 | 0.40 | |||
| HMKAX | 0.17 | (0.01) | 0.00 | (0.43) | 0.00 | 0.30 | 1.00 | |||
| TWACX | 0.09 | 0.01 | 0.33 | (0.25) | 0.00 | 0.22 | 0.45 |