DTF Tax Correlations

DTF Stock

USD 11.20 0.02 0.18%

The current 90-days correlation between DTF Tax Free and MFS Investment Grade is -0.07 (i.e., Good diversification). The correlation of DTF Tax 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.

DTF Tax Correlation With Market

Weak diversification

The correlation between DTF Tax Free and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DTF Tax Free and DJI in the same portfolio, assuming nothing else is changed.

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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in DTF Tax Free. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with DTF Stock

0.67	AMP	Ameriprise Financial	Pair Corr
0.69	AXP	American Express	Pair Corr
0.71	C	Citigroup Aggressive Push	Pair Corr
0.63	V	Visa Class A	Pair Corr
0.62	DHIL	Diamond Hill Investment	Pair Corr
0.62	AB	AllianceBernstein	Pair Corr
0.63	AC	Associated Capital	Pair Corr
0.66	AX	Axos Financial	Pair Corr
0.68	BK	Bank of New York	Pair Corr
0.69	BN	Brookfield Corp	Pair Corr
0.73	BX	Blackstone Group	Pair Corr
0.79	BY	Byline Bancorp	Pair Corr
0.68	CG	Carlyle Group	Pair Corr
0.69	GS	Goldman Sachs Group	Pair Corr
0.64	HG	Hamilton Insurance Group,	Pair Corr
0.64	IX	Orix Corp Ads	Pair Corr
0.7	LC	LendingClub Corp	Pair Corr
0.68	LU	Lufax Holding	Pair Corr
0.68	MA	Mastercard	Pair Corr
0.7	MC	Moelis	Pair Corr
0.66	MS	Morgan Stanley	Pair Corr
0.76	PB	Prosperity Bancshares	Pair Corr
0.63	PX	P10 Inc	Pair Corr
0.69	QD	Qudian Inc	Pair Corr
0.78	RF	Regions Financial	Pair Corr

Related Correlations Analysis

	CXH	CBH	EOT	IHTA	CMU	MFM	MGF	MHN	NXC	FMN
CXH		0.0	0.69	0.0	0.94	0.97	0.33	0.87	0.66	0.84	CXH
CBH	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CBH
EOT	0.69	0.0		0.0	0.79	0.77	0.52	0.84	0.82	0.89	EOT
IHTA	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	IHTA
CMU	0.94	0.0	0.79	0.0		0.94	0.4	0.92	0.77	0.94	CMU
MFM	0.97	0.0	0.77	0.0	0.94		0.36	0.9	0.72	0.89	MFM
MGF	0.33	0.0	0.52	0.0	0.4	0.36		0.45	0.54	0.5	MGF
MHN	0.87	0.0	0.84	0.0	0.92	0.9	0.45		0.81	0.95	MHN
NXC	0.66	0.0	0.82	0.0	0.77	0.72	0.54	0.81		0.8	NXC
FMN	0.84	0.0	0.89	0.0	0.94	0.89	0.5	0.95	0.8		FMN
	CXH	CBH	EOT	IHTA	CMU	MFM	MGF	MHN	NXC	FMN

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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

MFM	+ 0.97	CXH
FMN	+ 0.95	MHN
CMU	+ 0.94	CXH
MFM	+ 0.94	CMU
FMN	+ 0.94	CMU
MHN	+ 0.92	CMU

High negative correlations

FMN	- 0.0	IHTA
NXC	- 0.0	IHTA
MHN	- 0.0	IHTA
MGF	- 0.0	IHTA
MFM	- 0.0	IHTA
CMU	- 0.0	IHTA

Risk-Adjusted Indicators

There is a big difference between DTF Stock performing well and DTF Tax Company 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 DTF Tax'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
CXH	0.43	(0.11)	0.86	0.62	(0.99)	3.20
CBH	0.00	0.00	0.00	0.00	0.00	0.00
EOT	0.57	(0.09)	6.24	1.25	(1.50)	4.58
IHTA	0.00	0.00	0.00	0.00	0.00	0.00
CMU	0.54	(0.10)	(1.03)	0.86	(1.19)	5.48
MFM	0.60	(0.12)	0.55	0.92	(1.45)	4.53
MGF	0.51	0.00	0.00	1.31	(0.97)	3.26
MHN	0.67	(0.09)	(0.32)	1.19	(1.76)	4.43
NXC	0.53	(0.02)	(0.20)	1.09	(1.32)	2.76
FMN	0.53	(0.09)	(0.71)	0.87	(1.25)	3.35

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