Municipal Bond Correlations

SMBPX Fund

USD 8.75 0.02 0.23%

The current 90-days correlation between Municipal Bond Portfolio and Calvert Bond Portfolio is 0.61 (i.e., Poor diversification). The correlation of Municipal Bond 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.

Municipal Bond Correlation With Market

Significant diversification

The correlation between Municipal Bond Portfolio and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Municipal Bond Portfolio and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Municipal Bond Portfolio. 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 american community survey.

Moving together with Municipal Mutual Fund

0.71	SIBPX	Investment Quality Bond	Pair Corr
0.98	SMBCX	Municipal Bond Portfolio	Pair Corr
0.91	SMBAX	Municipal Bond Portfolio	Pair Corr

Moving against Municipal Mutual Fund

0.36	SSCPX	Small Capitalization	Pair Corr
0.36	SSCYX	Small Capitalization	Pair Corr
0.35	SSCCX	Small Capitalization	Pair Corr

Related Correlations Analysis

	CSBCX	DLTNX	GANPX	ABNCX	BBINX	CBOEX
CSBCX		0.99	0.91	0.97	0.87	0.98	CSBCX
DLTNX	0.99		0.89	0.97	0.84	0.99	DLTNX
GANPX	0.91	0.89		0.93	0.95	0.9	GANPX
ABNCX	0.97	0.97	0.93		0.83	0.97	ABNCX
BBINX	0.87	0.84	0.95	0.83		0.83	BBINX
CBOEX	0.98	0.99	0.9	0.97	0.83		CBOEX
	CSBCX	DLTNX	GANPX	ABNCX	BBINX	CBOEX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Municipal Mutual Fund performing well and Municipal Bond 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 Municipal Bond'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
CSBCX	0.22	0.01	0.03	0.35	0.23	(0.25)	0.49	(0.42)	1.42
DLTNX	0.23	0.02	0.06	0.85	0.16	(0.31)	0.57	(0.34)	1.40
GANPX	0.06	0.00	(0.03)	0.06	0.00	(0.12)	0.10	(0.10)	0.48
ABNCX	0.16	0.03	0.11	2.50	0.00	(0.20)	0.30	(0.30)	0.90
BBINX	0.13	(0.01)	(0.05)	0.34	0.18	(0.18)	0.29	(0.30)	0.78
CBOEX	0.17	0.02	0.07	1.12	0.10	(0.20)	0.33	(0.32)	0.98

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC