Deutsche California Correlations
| KCTAX Fund | USD 6.31 0.02 0.32% |
The current 90-days correlation between Deutsche California Tax and Morgan Stanley Pathway is 0.47 (i.e., Very weak diversification). The correlation of Deutsche California 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.
Deutsche California Correlation With Market
Modest diversification
The correlation between Deutsche California 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 Deutsche California Tax Free and DJI in the same portfolio, assuming nothing else is changed.
Deutsche |
Moving together with Deutsche Mutual Fund
| 0.95 | NOTCX | Deutsche Strategic High | PairCorr |
| 0.96 | NOTAX | Deutsche Strategic High | PairCorr |
| 0.95 | NOTIX | Deutsche Strategic High | PairCorr |
| 0.97 | KCTCX | Deutsche California Tax | PairCorr |
| 0.85 | SCMAX | Deutsche Massachusetts | PairCorr |
| 0.95 | SCMBX | Deutsche Managed Mun | PairCorr |
| 0.66 | SCMTX | Deutsche Intermediate | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Deutsche Mutual Fund performing well and Deutsche California 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 Deutsche California'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| TALTX | 0.12 | 0.03 | (0.42) | 0.39 | 0.00 | 0.29 | 0.86 | |||
| FBMPX | 0.87 | 0.28 | 0.29 | 0.46 | 0.29 | 2.47 | 5.19 | |||
| LANIX | 0.53 | 0.10 | 0.08 | 0.26 | 0.42 | 1.63 | 4.08 | |||
| TRBCX | 0.84 | 0.17 | 0.17 | 0.30 | 0.69 | 2.50 | 5.73 | |||
| TRSAX | 0.81 | 0.17 | 0.17 | 0.30 | 0.64 | 2.41 | 5.43 | |||
| FLDFX | 0.40 | 0.06 | 0.00 | 0.24 | 0.24 | 1.27 | 2.84 | |||
| SMPIX | 2.19 | 0.71 | 0.31 | 0.51 | 1.96 | 5.81 | 12.76 | |||
| AUERX | 0.60 | 0.19 | 0.14 | 0.61 | 0.34 | 1.48 | 3.03 |