Tax Free Correlations

TFCYX Fund

USD 10.02 0.00 0.00%

The current 90-days correlation between Tax Free Conservative and Rbc Emerging Markets is -0.12 (i.e., Good diversification). The correlation of 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.

Tax Free Correlation With Market

Good diversification

The correlation between Tax Free Conservative and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tax Free Conservative 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 Tax Free Conservative. 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 manufacturing.

Moving together with Tax Mutual Fund

0.79	SSCGX	Simt Small Cap	Pair Corr
0.74	SSMAX	Siit Small Mid	Pair Corr
0.98	TFCAX	Tax Free Conservative	Pair Corr
0.79	SSPIX	Simt Sp 500	Pair Corr
0.9	STDAX	Saat Defensive Strategy	Pair Corr
0.9	ENIAX	Siit Opportunistic Income	Pair Corr
0.7	STLYX	Simt Tax Managed	Pair Corr
0.76	STMPX	Simt Tax Managed	Pair Corr
0.76	STMSX	Simt Tax Managed	Pair Corr
0.81	SCPAX	Siit Large Cap	Pair Corr
0.79	SUSYX	Simt Managed Volatility	Pair Corr
0.94	SUSAX	Siit Ultra Short	Pair Corr
0.8	SDLAX	Siit Dynamic Asset	Pair Corr
0.77	SVAYX	Simt Large Cap	Pair Corr
0.81	SDYAX	Simt Dynamic Asset	Pair Corr
0.79	SVOAX	Simt Managed Volatility	Pair Corr
0.81	SDYYX	Simt Dynamic Asset	Pair Corr

Moving against Tax Mutual Fund

0.76	SCFYX	Simt E Fixed	Pair Corr
0.76	CFVYX	Catholic Values Fixed	Pair Corr
0.76	SCXIX	Sei Insti Mgd	Pair Corr
0.75	CFVAX	Catholic Values Fixed	Pair Corr
0.75	SCOAX	Siit E Fixed	Pair Corr
0.46	SAAAX	Simt Multi Asset	Pair Corr
0.44	SBDAX	Stet California Municipal	Pair Corr
0.76	SEGMX	Sdit Gnma Fund	Pair Corr
0.58	SEEIX	Sei Instit International	Pair Corr
0.57	SEFCX	Sit International Equity	Pair Corr
0.48	SEDAX	Siit Emerging Markets	Pair Corr
0.44	SCYYX	Stet California Municipal	Pair Corr

Related Correlations Analysis

	REMVX	TEOJX	BOGSX	APDOX	PIEFX	BXECX
REMVX		0.99	0.33	0.36	0.89	0.73	REMVX
TEOJX	0.99		0.39	0.42	0.9	0.73	TEOJX
BOGSX	0.33	0.39		0.79	0.66	0.09	BOGSX
APDOX	0.36	0.42	0.79		0.63	0.34	APDOX
PIEFX	0.89	0.9	0.66	0.63		0.54	PIEFX
BXECX	0.73	0.73	0.09	0.34	0.54		BXECX
	REMVX	TEOJX	BOGSX	APDOX	PIEFX	BXECX

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Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
REMVX	0.85	(0.08)	0.00	(0.10)	0.00	0.00	1.74	(2.04)	6.85
TEOJX	0.66	(0.05)	0.00	(0.06)	0.00	0.00	1.76	(1.83)	4.91
BOGSX	0.96	(0.12)	(0.05)	0.03	1.39	(0.95)	1.88	(2.25)	5.68
APDOX	0.15	0.01	(0.40)	0.23	0.07	(0.21)	0.39	(0.20)	0.78
PIEFX	0.79	(0.07)	(0.11)	0.00	0.98	(0.91)	1.82	(1.45)	4.54
BXECX	0.26	(0.02)	(0.36)	(0.03)	0.26	(0.38)	0.65	(0.40)	1.45

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