Tax-managed Correlations

RTMTX Fund

USD 82.70 1.38 1.70%

The current 90-days correlation between Tax Managed Large and Blackrock Science Technology is 0.87 (i.e., Very poor diversification). The correlation of Tax-managed 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.

Tax-managed Correlation With Market

Poor diversification

The correlation between Tax Managed Large Cap and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tax Managed Large Cap and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Tax Managed Large Cap. 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 estimate.

Moving together with Tax-managed Mutual Fund

0.8	RALAX	Growth Strategy	Pair Corr
0.71	RALCX	Growth Strategy	Pair Corr
0.8	RALSX	Growth Strategy	Pair Corr
0.69	RALRX	Growth Strategy	Pair Corr
0.81	RALVX	Growth Strategy	Pair Corr
0.85	RSCRX	Us Small Cap	Pair Corr
0.75	RSECX	Us Strategic Equity	Pair Corr
0.88	RSEAX	Us Strategic Equity	Pair Corr
0.88	RSESX	Us Strategic Equity	Pair Corr
0.7	RBLCX	Balanced Strategy	Pair Corr
0.67	RBLAX	Balanced Strategy	Pair Corr
0.69	RBLVX	Balanced Strategy	Pair Corr

Moving against Tax-managed Mutual Fund

0.61	RSBTX	Short Duration Bond	Pair Corr
0.61	RSBCX	Short Duration Bond	Pair Corr
0.59	RSBYX	Short Duration Bond	Pair Corr
0.59	RSDTX	Short Duration Bond	Pair Corr
0.56	RSBRX	Strategic Bond	Pair Corr
0.36	RNTTX	International Developed	Pair Corr
0.55	RSYTX	Strategic Bond	Pair Corr
0.42	RTIRX	Select International	Pair Corr
0.42	RTITX	Select International	Pair Corr
0.4	RTIUX	Tax-managed International	Pair Corr
0.37	RTISX	Select International	Pair Corr
0.37	RTIYX	Select International	Pair Corr

Related Correlations Analysis

	BSTSX	NWHOX	WSTRX	JGLTX	TOWTX
BSTSX		0.85	0.96	1.0	0.87	BSTSX
NWHOX	0.85		0.84	0.85	0.79	NWHOX
WSTRX	0.96	0.84		0.97	0.93	WSTRX
JGLTX	1.0	0.85	0.97		0.88	JGLTX
TOWTX	0.87	0.79	0.93	0.88		TOWTX
	BSTSX	NWHOX	WSTRX	JGLTX	TOWTX

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Risk-Adjusted Indicators

There is a big difference between Tax-managed Mutual Fund performing well and Tax-managed 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 Tax-managed'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
BSTSX	1.49	(0.12)	(0.14)	2.37	(3.69)	9.07
NWHOX	1.52	(0.28)	(0.38)	2.34	(3.60)	13.39
WSTRX	1.35	(0.07)	(0.10)	2.25	(3.60)	7.04
JGLTX	1.19	(0.08)	(0.12)	1.98	(3.11)	6.39
TOWTX	0.70	(0.05)	(0.11)	1.44	(1.85)	4.10

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