Destinations Municipal Correlations

Mutual Funds . USA . 
Fund . Destinations Municipal Fixed
DMFZX Fund  USD 9.47  0.01  0.11%   
The current 90-days correlation between Destinations Municipal and Destinations International Equity is 0.19 (i.e., Average diversification). The correlation of Destinations 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.

Destinations Municipal Correlation With Market

Good diversification

The correlation between Destinations Municipal Fixed and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Destinations Municipal Fixed and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Destinations Municipal Fixed. 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 nation.

Moving together with Destinations Mutual Fund

  0.9DIEZX Destinations InternationalPairCorr
  0.89DIEFX Destinations InternationalPairCorr
  0.89DLCFX Destinations Large CapPairCorr
  0.85DLDFX Destinations Low DurationPairCorr
  0.89DLCZX Destinations Large CapPairCorr
  0.87DLDZX Destinations Low DurationPairCorr
  0.95DMFFX Destinations MunicipalPairCorr
  0.91DMSFX Destinations MultiPairCorr
  0.91DMSZX Destinations MultiPairCorr
  0.87DRAFX Destinations Real AssetsPairCorr
  0.87DSHZX Brinker Capital DestPairCorr
  0.87DSHFX Brinker Capital DestPairCorr
  0.91DSMFX Destinations Small MidPairCorr
  0.91DSMZX Destinations Small MidPairCorr
  0.66DCFFX Destinations Core FixedPairCorr
  0.64DCFZX Destinations Core FixedPairCorr
  0.89DGEZX Destinations EquityPairCorr
  0.9DGEFX Destinations EquityPairCorr
  0.88DGFZX Destinations Global FixedPairCorr
  0.88DGFFX Destinations Global FixedPairCorr
  0.96VWITX Vanguard Intermediate-terPairCorr
  0.99VWIUX Vanguard Intermediate-terPairCorr
  0.94AFTEX Tax Exempt BondPairCorr
  0.85AFTFX Tax Exempt BondPairCorr
  0.82TEBCX Tax Exempt BondPairCorr
  0.87TEAFX Tax Exempt BondPairCorr
  0.87TFEBX Tax Exempt BondPairCorr
  0.95FLTMX Fidelity IntermediatePairCorr
  0.86MDNLX Blackrock NationalPairCorr
  0.81MFNLX Blackrock Natl MuniPairCorr
  0.85SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.84SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.84TTEEX T Rowe PricePairCorr
  0.85TREMX T Rowe PricePairCorr
  0.87FIKGX Fidelity Advisor SemPairCorr
  0.87ONERX One Rock Fund Steady GrowthPairCorr
  0.87FELCX Fidelity Advisor SemPairCorr
  0.87FELIX Fidelity Advisor SemPairCorr
  0.87FSELX Fidelity Select SemiPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Destinations Mutual Fund performing well and Destinations 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 Destinations 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
DIEZX  0.49  0.23  0.15 (4.37) 0.13 
(0.59)
 1.37 
(0.81)
 3.02 
DIEFX  0.48  0.14  0.11  0.47  0.20 
(0.58)
 1.27 
(0.83)
 3.01 
DLCFX  0.75  0.10  0.08  0.23  0.81 
(0.85)
 2.13 
(1.86)
 6.63 
DLDFX  0.07  0.03 (0.91)(1.26) 0.00 
(0.12)
 0.21 
(0.11)
 0.33 
DLCZX  0.67  0.23  0.10  77.67  0.51 
(0.82)
 1.95 
(1.25)
 5.79 
DLDZX  0.07  0.03 (0.91)(2.12) 0.00 
(0.13)
 0.21 
(0.10)
 0.32 
DMFFX  0.10  0.00 (0.67) 0.13  0.02 
(0.14)
 0.21 
(0.11)
 0.75 
DMFZX  0.11  0.02 (0.71)(0.90) 0.00 
(0.15)
 0.32 
(0.21)
 0.86 
DMSFX  0.15  0.03 (0.32) 0.29  0.00 
(0.20)
 0.40 
(0.29)
 1.09 
DMSZX  0.14  0.06 (0.35)(2.09) 0.00 
(0.20)
 0.41 
(0.30)
 0.92 

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