Delaware Tax-free Correlations

Mutual Funds . USA . 
Fund . Delaware Tax Free Orado
VCTFX Fund  USD 10.25  0.03  0.29%   
The current 90-days correlation between Delaware Tax Free and Health Biotchnology Portfolio is 0.23 (i.e., Modest diversification). The correlation of Delaware 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.

Delaware Tax-free Correlation With Market

Average diversification

The correlation between Delaware Tax Free Orado and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Delaware Tax Free Orado 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 Orado. 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 census.

Moving together with Delaware Mutual Fund

  0.68IMAAX Ivy Apollo MultiPairCorr
  0.68OCFIX Optimum Fixed IncomePairCorr
  0.64OCIEX Optimum InternationalPairCorr
  0.98CXHYX Delaware National HighPairCorr
  0.98FTNYX Delaware Tax FreePairCorr
  0.99FTORX First Investors TaxPairCorr
  0.96FTOTX First Investors TaxPairCorr
  0.67DLHIX Delaware HealthcarePairCorr
  0.68DLHCX Delaware HealthcarePairCorr
  0.68DLHAX Delaware HealthcarePairCorr
  0.69DLRHX Delaware HealthcarePairCorr
  0.63DLTZX Delaware Limited TermPairCorr
  0.65DLTRX Delaware Limited TermPairCorr
  0.96DMHIX Delaware Minnesota HighPairCorr
  0.99DMOCX Delaware Tax FreePairCorr
  1.0DMNIX Delaware Tax FreePairCorr
  0.99DMTFX Delaware Tax FreePairCorr
  0.99DMUSX Delaware Tax FreePairCorr
  0.86VAZIX Delaware Tax FreePairCorr
  0.82IRSAX Ivy Advantus RealPairCorr
  0.64OIFIX Optimum Fixed IncomePairCorr
  0.69DPCFX Delaware DiversifiedPairCorr
  0.69DPDFX Delaware DiversifiedPairCorr
  0.66DPFFX 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   
WFSTX
+ 1.0
WFTDX
BGSCX
+ 0.99
JGLTX
HTECX
+ 0.98
WFTDX
HTECX
+ 0.98
WFSTX
WSTRX
+ 0.98
HTECX
JGLTX
+ 0.97
WSTRX
  
High negative correlations   
BGSCX
- 0.21
SBHIX
JGLTX
- 0.17
SBHIX
JAGTX
- 0.16
SBHIX

Risk-Adjusted Indicators

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