Intermediate Tax/amt-free Correlations

WFITX Fund

USD 10.95 0.01 0.09%

The current 90-days correlation between Intermediate Tax/amt-free and T Rowe Price is 0.37 (i.e., Weak diversification). The correlation of Intermediate Tax/amt-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.

Intermediate Tax/amt-free Correlation With Market

Average diversification

The correlation between Intermediate Taxamt Free Fund and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Intermediate Taxamt Free Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Intermediate Taxamt Free Fund. 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 Intermediate Mutual Fund

0.99	DHICX	Wells Fargo Advantage	Pair Corr
0.99	VMPYX	Wells Fargo Advantage	Pair Corr
0.99	VMPAX	Wells Fargo Advantage	Pair Corr
0.72	EMGYX	Wells Fargo Emerging	Pair Corr
0.72	EMGNX	Wells Fargo Emerging	Pair Corr
0.72	EMGCX	Wells Fargo Emerging	Pair Corr
0.72	EMGAX	Wells Fargo Emerging	Pair Corr
0.89	WABIX	Wells Fargo Advantage	Pair Corr
0.87	WSBIX	Short Term Municipal	Pair Corr
0.89	WARAX	Wells Fargo Advantage	Pair Corr
0.89	WARDX	Wells Fargo Advantage	Pair Corr
0.9	WARCX	Wells Fargo Advantage	Pair Corr
0.8	WSIAX	Wells Fargo Strategic	Pair Corr
0.77	WSIDX	Wells Fargo Strategic	Pair Corr
0.82	WSICX	Wells Fargo Strategic	Pair Corr
0.76	WSINX	Wells Fargo Strategic	Pair Corr
0.87	WSMAX	Short Term Municipal	Pair Corr
0.9	WSSCX	Short Term Municipal	Pair Corr
0.87	WSTMX	Short Term Municipal	Pair Corr
0.99	STRIX	Wells Fargo Advantage	Pair Corr
0.93	STYAX	Wells Fargo Income	Pair Corr
0.93	SCTAX	California Tax Free	Pair Corr
0.95	SCTCX	California Tax Free	Pair Corr

Related Correlations Analysis

	RRMVX	AZBAX	FCPVX	UAPIX	ESCIX	RYAGX	BSMDX	TRMIX
RRMVX		0.88	0.84	0.89	-0.28	-0.58	0.6	1.0	RRMVX
AZBAX	0.88		0.88	0.96	-0.26	-0.26	0.7	0.88	AZBAX
FCPVX	0.84	0.88		0.94	-0.16	-0.42	0.86	0.84	FCPVX
UAPIX	0.89	0.96	0.94		-0.23	-0.42	0.82	0.88	UAPIX
ESCIX	-0.28	-0.26	-0.16	-0.23		0.23	0.03	-0.28	ESCIX
RYAGX	-0.58	-0.26	-0.42	-0.42	0.23		-0.41	-0.58	RYAGX
BSMDX	0.6	0.7	0.86	0.82	0.03	-0.41		0.6	BSMDX
TRMIX	1.0	0.88	0.84	0.88	-0.28	-0.58	0.6		TRMIX
	RRMVX	AZBAX	FCPVX	UAPIX	ESCIX	RYAGX	BSMDX	TRMIX

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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

TRMIX	+ 1.0	RRMVX
UAPIX	+ 0.96	AZBAX
UAPIX	+ 0.94	FCPVX
UAPIX	+ 0.89	RRMVX
AZBAX	+ 0.88	RRMVX
FCPVX	+ 0.88	AZBAX

High negative correlations

TRMIX	- 0.58	RYAGX
RYAGX	- 0.58	RRMVX
RYAGX	- 0.42	UAPIX
RYAGX	- 0.42	FCPVX
BSMDX	- 0.41	RYAGX
TRMIX	- 0.28	ESCIX

Risk-Adjusted Indicators

There is a big difference between Intermediate Mutual Fund performing well and Intermediate Tax/amt-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 Intermediate Tax/amt-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
RRMVX	0.76	(0.21)	0.00	(0.34)	0.00	0.00	1.16	(1.36)	13.01
AZBAX	0.96	(0.22)	0.00	(0.31)	0.00	0.00	1.50	(1.63)	14.22
FCPVX	0.73	(0.09)	0.00	(0.13)	0.00	0.00	1.48	(1.70)	5.40
UAPIX	1.69	(0.25)	0.00	(0.16)	0.00	0.00	3.23	(3.17)	12.42
ESCIX	0.68	0.03	0.04	0.08	0.94	(0.69)	1.22	(1.88)	4.06
RYAGX	1.26	0.18	0.06	0.38	2.75	(1.42)	1.48	(1.39)	39.49
BSMDX	1.05	(0.11)	0.00	(0.16)	0.00	0.00	1.72	(2.69)	6.04
TRMIX	0.75	(0.20)	0.00	(0.33)	0.00	0.00	1.16	(1.35)	12.71

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