Wilmington Municipal Correlations

WTAIX Fund

USD 12.16 0.05 0.41%

The current 90-days correlation between Wilmington Municipal Bond and Gabelli Global Financial is 0.21 (i.e., Modest diversification). The correlation of Wilmington Municipal 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.

Wilmington Municipal Correlation With Market

Good diversification

The correlation between Wilmington Municipal Bond and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wilmington Municipal Bond 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 Wilmington Municipal Bond. 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 Wilmington Mutual Fund

0.63	WRAAX	Wilmington Global Alpha	Pair Corr
0.63	WRAIX	Wilmington Global Alpha	Pair Corr
0.81	WABMX	Wilmington Broad Market	Pair Corr
0.95	WTABX	Wilmington Municipal Bond	Pair Corr
0.8	WIBMX	Wilmington Broad Market	Pair Corr
0.7	WINAX	Wilmington International	Pair Corr
0.7	WINIX	Wilmington International	Pair Corr
0.69	WMMRX	Wilmington Multi Man	Pair Corr
0.69	WMRIX	Wilmington Multi-manager	Pair Corr
0.95	WNYAX	Wilmington New York	Pair Corr
0.96	WNYIX	Wilmington New York	Pair Corr
0.95	VWITX	Vanguard Intermediate-ter	Pair Corr
0.95	VWIUX	Vanguard Intermediate-ter	Pair Corr
0.92	AFTEX	Tax Exempt Bond	Pair Corr
0.91	AFTFX	Tax Exempt Bond	Pair Corr
0.89	TEBCX	Tax Exempt Bond	Pair Corr
0.92	TEAFX	Tax Exempt Bond	Pair Corr
0.92	TFEBX	Tax Exempt Bond	Pair Corr
0.95	FLTMX	Fidelity Intermediate	Pair Corr
0.86	MDNLX	Blackrock National	Pair Corr
0.81	MFNLX	Blackrock Natl Muni	Pair Corr
0.82	RWDNX	Redwood Managed Vola	Pair Corr
0.78	DBLLX	Doubleline Low Duration	Pair Corr
0.78	BNUEX	Ubs International	Pair Corr
0.73	VSBSX	Vanguard Short Term	Pair Corr
0.82	RWDIX	Redwood Managed Vola	Pair Corr

Moving against Wilmington Mutual Fund

0.64	SMPIX	Semiconductor Ultrasector	Pair Corr
0.64	SMPSX	Semiconductor Ultrasector	Pair Corr
0.58	RSNYX	Victory Global Natural	Pair Corr

Related Correlations Analysis

	GCFSX	IAAEX	IVMXX	FIDAX	SBFAX	FAFSX	AEYXX
GCFSX		0.17	0.0	0.28	0.62	0.38	0.0	GCFSX
IAAEX	0.17		0.0	0.53	0.19	0.35	0.0	IAAEX
IVMXX	0.0	0.0		0.0	0.0	0.0	0.0	IVMXX
FIDAX	0.28	0.53	0.0		0.79	0.95	0.0	FIDAX
SBFAX	0.62	0.19	0.0	0.79		0.92	0.0	SBFAX
FAFSX	0.38	0.35	0.0	0.95	0.92		0.0	FAFSX
AEYXX	0.0	0.0	0.0	0.0	0.0	0.0		AEYXX
	GCFSX	IAAEX	IVMXX	FIDAX	SBFAX	FAFSX	AEYXX

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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

FAFSX	+ 0.95	FIDAX
FAFSX	+ 0.92	SBFAX
SBFAX	+ 0.79	FIDAX
SBFAX	+ 0.62	GCFSX
FIDAX	+ 0.53	IAAEX
FAFSX	+ 0.38	GCFSX

High negative correlations

AEYXX	- 0.0	FAFSX
AEYXX	- 0.0	SBFAX
AEYXX	- 0.0	FIDAX
AEYXX	- 0.0	IVMXX
FAFSX	- 0.0	IVMXX
SBFAX	- 0.0	IVMXX

Risk-Adjusted Indicators

There is a big difference between Wilmington Mutual Fund performing well and Wilmington Municipal 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 Wilmington Municipal'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
GCFSX	0.76	0.06	0.05	(0.50)	1.00	(0.79)	1.80	(2.41)	4.68
IAAEX	0.81	(0.12)	0.00	1.00	0.00	0.00	1.41	(1.48)	9.17
IVMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FIDAX	0.99	(0.13)	0.00	(0.12)	0.00	0.00	2.02	(3.26)	7.13
SBFAX	0.77	0.00	0.00	0.00	1.15	(0.80)	1.69	(1.92)	5.22
FAFSX	0.90	(0.06)	0.00	(0.05)	0.00	0.00	1.71	(2.71)	6.26
AEYXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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