Delaware Tax Correlations

Mutual Funds . USA . 
Fund . Delaware Tax Free Arizona
VAZIX Fund  USD 10.03  0.08  0.79%   
The current 90-days correlation between Delaware Tax Free and Short Term Government Fund is 0.1 (i.e., Average diversification). The correlation of Delaware 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.

Delaware Tax Correlation With Market

Good diversification

The correlation between Delaware Tax Free Arizona and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Delaware Tax Free Arizona 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 Delaware Tax Free Arizona. 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 Delaware Mutual Fund

  0.88FTNYX Delaware Tax FreePairCorr
  0.95FTORX First Investors TaxPairCorr
  0.98FTOTX First Investors TaxPairCorr
  0.62DLRHX Delaware HealthcarePairCorr
  0.9DMHIX Delaware Minnesota HighPairCorr
  0.96DMOCX Delaware Tax FreePairCorr
  0.95DMNIX Delaware Tax FreePairCorr
  0.92DMUSX Delaware Tax FreePairCorr
  0.7IRSAX Ivy Advantus RealPairCorr
  0.95VCTFX Delaware Tax FreePairCorr
  0.61DPCFX Delaware DiversifiedPairCorr
  0.61DPDFX Delaware DiversifiedPairCorr
  0.61DPRFX Delaware DiversifiedPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
BIGLX
+ 0.99
RGVJX
RGVCX
+ 0.98
TWAVX
FCSCX
+ 0.96
RGVJX
BIGLX
+ 0.94
FCSCX
RGVJX
+ 0.92
RGVCX
BIGLX
+ 0.92
RGVCX
  
High negative correlations   
FCSCX
- 0.25
TUIXX
TUIXX
- 0.23
RGVJX
BIGLX
- 0.22
TUIXX
TUIXX
- 0.04
RGVCX
TUIXX
- 0.04
TWAVX

Risk-Adjusted Indicators

There is a big difference between Delaware Mutual Fund performing well and Delaware 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 Delaware 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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