California Intermediate-ter Correlations

Mutual Funds . USA . 
Fund . California Intermediate Term Tax Free
BCITX Fund  USD 10.92  0.02  0.18%   
The current 90-days correlation between California Intermediate-ter and California High Yield Municipal is 0.94 (i.e., Almost no diversification). The correlation of California Intermediate-ter 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.

California Intermediate-ter Correlation With Market

Average diversification

The correlation between California Intermediate Term T and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding California Intermediate Term T and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in California Intermediate Term Tax Free. 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 California Mutual Fund

  0.84AMDVX Mid Cap ValuePairCorr
  0.88AMEIX Equity GrowthPairCorr
  0.89AMGIX Income GrowthPairCorr
  0.82CDBCX Diversified BondPairCorr
  0.88AMKIX Emerging MarketsPairCorr
  0.76TWACX Short Term GovernmentPairCorr
  0.88TWADX Value Fund APairCorr
  0.86TWCCX Ultra Fund CPairCorr
  0.86TWCAX Select Fund APairCorr
  0.86TWCIX Select Fund InvestorPairCorr
  0.87TWCGX Growth Fund InvestorPairCorr
  0.78TWARX Short Term GovernmentPairCorr
  0.84TWAVX Short Term GovernmentPairCorr
  0.84AMVYX Mid Cap ValuePairCorr
  0.84AMVRX Mid Cap ValuePairCorr
  0.9TWBIX Balanced Fund InvestorPairCorr
  0.84AMVGX Mid Cap ValuePairCorr
  0.84TWEAX Equity IncomePairCorr
  0.85TWEIX Equity IncomePairCorr
  0.86TWCUX Ultra Fund InvestorPairCorr
  0.8TWGAX International GrowthPairCorr
  0.87TWGIX Growth Fund IPairCorr
  0.88TWGGX Global GrowthPairCorr
  0.8TWIEX International GrowthPairCorr
  0.87TWHIX Heritage Fund InvestorPairCorr
  0.88TWMIX Emerging MarketsPairCorr
  0.86TWRCX Growth Fund CPairCorr
  0.99TWTCX Intermediate Term TaxPairCorr
  1.0TWTIX Intermediate Term TaxPairCorr
  0.91TWSCX Strategic Allocation:PairCorr
  0.89TWSAX Strategic Allocation:PairCorr
  0.9TWSMX Strategic Allocation:PairCorr
  0.86TWSIX Select Fund IPairCorr
  0.85TWUSX Short Term GovernmentPairCorr
  0.88TWVLX Value Fund InvestorPairCorr
  0.86TWUAX Ultra Fund APairCorr
  0.86TWUIX Ultra Fund IPairCorr
  0.85TWUOX Short Term GovernmentPairCorr
  1.0TWWOX Intermediate Term TaxPairCorr
  0.92NPHIX High Income FundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between California Mutual Fund performing well and California Intermediate-ter 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 California Intermediate-ter'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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