The Missouri Correlations

CFMOX Fund

USD 18.14 0.02 0.11%

The current 90-days correlation between Missouri Tax and The Bond Fund is 0.63 (i.e., Poor diversification). The correlation of The Missouri 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.

The Missouri Correlation With Market

Modest diversification

The correlation between The Missouri Tax Free and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Missouri Tax Free 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 The Missouri 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 persons.

Moving together with The Mutual Fund

0.98	KTXIX	Kansas Tax	Pair Corr
0.86	CFAGX	Midcap Growth	Pair Corr
0.78	CFBNX	Bond Fund	Pair Corr
0.87	CFGRX	Growth Fund	Pair Corr
0.99	CFNLX	National Tax	Pair Corr
0.86	CFMVX	Commerce Midcap Value	Pair Corr
0.79	CFSTX	Short Term	Pair Corr
0.87	CFVLX	Value Fund	Pair Corr
0.9	HICOX	Colorado Bondshares	Pair Corr
0.82	KYTFX	Kentucky Tax Free	Pair Corr
0.97	HULYX	Hawaiian Tax Free	Pair Corr
0.97	HULFX	Hawaiian Tax Free	Pair Corr
0.99	ORTYX	Aquila Tax Free	Pair Corr
0.97	HULAX	Hawaiian Tax Free	Pair Corr
0.85	LIIAX	Columbia Porate Income	Pair Corr
0.85	SRINX	Columbia Porate Income	Pair Corr
0.87	WRHIX	Ivy High Income	Pair Corr
0.87	WHIAX	Ivy High Income	Pair Corr
0.88	IHIFX	Ivy High Income	Pair Corr
0.88	IVHIX	Ivy High Income	Pair Corr
0.87	GFAFX	Growth Fund	Pair Corr
0.87	CENAX	American Funds Lege	Pair Corr
0.88	SWERX	Schwab Target 2040	Pair Corr
0.88	FRLPX	Fidelity Freedom Index	Pair Corr
0.87	CGFCX	Growth Fund	Pair Corr
0.8	PFONX	Pimco International Bond	Pair Corr
0.88	AADSX	Invesco Growth Allocation	Pair Corr
0.89	SCBPX	Strategic Asset Mana	Pair Corr
0.87	GWPFX	American Funds Growth	Pair Corr
0.88	SWHCX	Strategic Asset Mana	Pair Corr
0.87	QCELX	Aqr Large Cap	Pair Corr
0.87	RNGHX	New Economy Fund	Pair Corr
0.87	CGFEX	Growth Fund	Pair Corr
0.87	ANWPX	New Perspective	Pair Corr
0.87	RLBCX	American Balanced	Pair Corr

Related Correlations Analysis

	CFBNX	ASFIX	FRMOX	CFNLX	ETMOX
CFBNX		0.0	0.37	0.83	0.84	CFBNX
ASFIX	0.0		0.0	0.0	0.0	ASFIX
FRMOX	0.37	0.0		0.5	0.65	FRMOX
CFNLX	0.83	0.0	0.5		0.95	CFNLX
ETMOX	0.84	0.0	0.65	0.95		ETMOX
	CFBNX	ASFIX	FRMOX	CFNLX	ETMOX

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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

ETMOX	+ 0.95	CFNLX
ETMOX	+ 0.84	CFBNX
CFNLX	+ 0.83	CFBNX
ETMOX	+ 0.65	FRMOX
CFNLX	+ 0.5	FRMOX
FRMOX	+ 0.37	CFBNX

High negative correlations

ETMOX	- 0.0	ASFIX
CFNLX	- 0.0	ASFIX
FRMOX	- 0.0	ASFIX
ASFIX	- 0.0	CFBNX

Risk-Adjusted Indicators

There is a big difference between The Mutual Fund performing well and The Missouri 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 The Missouri'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
CFBNX	0.26	0.01	(0.36)	0.24	0.24	(0.28)	0.51	(0.51)	1.19
ASFIX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FRMOX	0.20	(0.02)	0.00	(0.24)	0.00	0.00	0.50	(0.40)	1.30
CFNLX	0.12	0.01	(0.59)	0.51	0.00	(0.15)	0.28	(0.22)	0.82
ETMOX	0.16	0.00	(0.46)	0.26	0.13	(0.25)	0.36	(0.36)	1.21

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