Intermediate Tax/amt-free Correlations

WFITX Fund  USD 10.78  0.05  0.46%   
The current 90-days correlation between Intermediate Tax/amt-free and Wells Fargo Advantage is 0.94 (i.e., Almost no 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 0.1 (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

  0.99DHICX Wells Fargo AdvantagePairCorr
  0.99VMPYX Wells Fargo AdvantagePairCorr
  0.98VMPAX Wells Fargo AdvantagePairCorr
  0.76SADAX Wells Fargo UltraPairCorr
  0.79SADIX Wells Fargo UltraPairCorr
  0.79SSHIX Wells Fargo ShortPairCorr
  0.85WABIX Wells Fargo AdvantagePairCorr
  0.87SSTHX Wells Fargo ShortPairCorr
  0.78SSTVX Wells Fargo ShortPairCorr
  0.91WSBIX Short Term MunicipalPairCorr
  0.85WARAX Wells Fargo AdvantagePairCorr
  0.85WARDX Wells Fargo AdvantagePairCorr
  0.85WARCX Wells Fargo AdvantagePairCorr
  0.76WSGIX Wells Fargo ShortPairCorr
  0.87WSIAX Wells Fargo StrategicPairCorr
  0.87WSIDX Wells Fargo StrategicPairCorr
  0.88WSICX Wells Fargo StrategicPairCorr
  0.86WSINX Wells Fargo StrategicPairCorr
  0.92WSMAX Short Term MunicipalPairCorr
  0.94WSSCX Short Term MunicipalPairCorr
  0.93WSTMX Short Term MunicipalPairCorr
  0.99STRIX Wells Fargo AdvantagePairCorr
  0.84STYAX Wells Fargo IncomePairCorr
  0.87STYIX Wells Fargo ShortPairCorr
  0.9SCTAX California Tax FreePairCorr
  0.84SCTCX California Tax FreePairCorr

Moving against Intermediate Mutual Fund

  0.44WSCGX Small Pany GrowthPairCorr
  0.39WSCOX Wells Fargo AdvantagePairCorr
  0.44WSMCX Small Pany GrowthPairCorr
  0.44STSAX Wells Fargo MonPairCorr
  0.32STOFX Wells Fargo LargePairCorr
  0.31STAFX Wells Fargo LargePairCorr
  0.31STDFX Wells Fargo LargePairCorr
  0.31STNFX Wells Fargo LargePairCorr
  0.43SCNSX Wells Fargo MonPairCorr
  0.43SCSDX Wells Fargo MonPairCorr
  0.43SCSAX Wells Fargo MonPairCorr
  0.32SCVAX Small Pany ValuePairCorr
  0.32SCVIX Small Pany ValuePairCorr
  0.32SCVFX Small Pany ValuePairCorr

Related Correlations Analysis

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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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
DHICX  0.11 (0.01) 0.00 (3.10) 0.00 
 0.23 
 0.68 
VMPYX  0.10 (0.01)(0.02)(0.37) 0.14 
 0.23 
 0.68 
VMPAX  0.11 (0.01) 0.00 (2.04) 0.00 
 0.23 
 0.57 
SADAX  0.05  0.01  0.08 (0.33) 0.00 
 0.11 
 0.57 
SADIX  0.05  0.01  0.00  1.54  0.00 
 0.11 
 0.57 
EMGYX  0.80  0.08  0.07  0.17  0.97 
 1.49 
 6.50 
EMGNX  0.80  0.08  0.08  0.17  0.99 
 1.48 
 6.51 
EMGCX  0.79  0.08  0.07  0.16  1.00 
 1.48 
 6.45 
EMGAX  0.80  0.08  0.07  0.17  0.97 
 1.50 
 6.54 
SSHIX  0.07  0.00  0.08  0.00  0.00 
 0.12 
 0.59