Schwab Tax-free Correlations

Mutual Funds . USA . 
Fund . Schwab Tax Free Bond
SWNTX Fund  USD 11.09  0.02  0.18%   
The current 90-days correlation between Schwab Tax Free and John Hancock Financial is -0.37 (i.e., Very good diversification). The correlation of Schwab Tax-free 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.

Schwab Tax-free Correlation With Market

Very good diversification

The correlation between Schwab Tax Free Bond and DJI is -0.28 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Schwab Tax Free Bond 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 Schwab Tax Free Bond. 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 Schwab Mutual Fund

  0.99SWCAX Schwab California TaxPairCorr
  0.65SWCGX Schwab MarkettrackPairCorr
  0.73SWAGX Schwab Aggregate BondPairCorr
  0.67SWASX Schwab Global RealPairCorr
  0.89SWHYX Schwab OpportunisticPairCorr
  0.73SWKRX Schwab Monthly IncomePairCorr
  0.73SWJRX Schwab Monthly IncomePairCorr
  0.76SWLRX Schwab Monthly IncomePairCorr
  0.72SWRSX Schwab Treasury InflationPairCorr
  0.73SWSBX Schwab Short TermPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Schwab Mutual Fund performing well and Schwab Tax-free 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 Schwab Tax-free'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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