Sit Tax Correlations

Mutual Funds USA . 
Fund . Sit Tax Free Income
SNTIX Fund  USD 8.67  0.02  0.23%   
The current 90-days correlation between Sit Tax Free and Sit Minnesota Tax Free is 0.22 (i.e., Modest diversification). The correlation of Sit Tax 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.

Sit Tax Correlation With Market

Average diversification

The correlation between Sit Tax Free Income and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sit Tax Free Income 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 Sit Tax Free Income. 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 Sit Mutual Fund

  0.88SMTFX Sit Minnesota TaxPairCorr
  0.89SNTYX Sit Tax FreePairCorr
  0.69SQIYX Sit Mutual FundsPairCorr
  0.94VWITX Vanguard IntermediatePairCorr
  0.89VWIUX Vanguard IntermediatePairCorr
  0.9AFTEX Tax Exempt BondPairCorr
  0.94AFTFX Tax Exempt BondPairCorr
  0.92TEBCX Tax Exempt BondPairCorr
  0.91TEAFX Tax Exempt BondPairCorr
  0.92TFEBX Tax Exempt BondPairCorr
  0.87FLTMX Fidelity IntermediatePairCorr
  0.89MDNLX Blackrock NationalPairCorr
  0.82MFNLX Blackrock Natl MuniPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Sit Mutual Fund performing well and Sit Tax 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 Sit Tax'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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