The Kansas Correlations

Mutual Funds . USA . 
Fund . The Kansas Tax Free
KTXIX Fund  USD 18.00  0.02  0.11%   
The current 90-days correlation between Kansas Tax and The Bond Fund is 0.65 (i.e., Poor diversification). The correlation of The Kansas 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 Kansas Correlation With Market

Modest diversification

The correlation between The Kansas 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 Kansas Tax Free and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in The Kansas 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 gross domestic product.

Moving together with The Mutual Fund

  0.89CFAGX Midcap GrowthPairCorr
  0.82CFBNX Bond FundPairCorr
  0.92CFGRX Growth FundPairCorr
  0.98CFMOX Missouri TaxPairCorr
  1.0CFNLX National TaxPairCorr
  0.91CFMVX Commerce Midcap ValuePairCorr
  0.85CFSTX Short TermPairCorr
  0.92CFVLX Value FundPairCorr
  0.95HICOX Colorado BondsharesPairCorr
  0.73KYTFX Kentucky Tax FreePairCorr
  0.95HULYX Hawaiian Tax FreePairCorr
  0.95HULFX Hawaiian Tax FreePairCorr
  0.99ORTYX Aquila Tax FreePairCorr
  0.94HULAX Hawaiian Tax FreePairCorr
  0.91LIIAX Columbia Porate IncomePairCorr
  0.91SRINX Columbia Porate IncomePairCorr
  0.92WRHIX Ivy High IncomePairCorr
  0.92WHIAX Ivy High IncomePairCorr
  0.93IHIFX Ivy High IncomePairCorr
  0.93IVHIX Ivy High IncomePairCorr
  0.92GFAFX Growth FundPairCorr
  0.93CENAX American Funds LegePairCorr
  0.93SWERX Schwab Target 2040PairCorr
  0.93FRLPX Fidelity Freedom IndexPairCorr
  0.92CGFCX Growth FundPairCorr
  0.86PFONX Pimco International BondPairCorr
  0.93AADSX Invesco Growth AllocationPairCorr
  0.94SCBPX Strategic Asset ManaPairCorr
  0.93GWPFX American Funds GrowthPairCorr
  0.93SWHCX Strategic Asset ManaPairCorr
  0.92QCELX Aqr Large CapPairCorr
  0.93RNGHX New Economy FundPairCorr
  0.92CGFEX Growth FundPairCorr
  0.92ANWPX New PerspectivePairCorr
  0.93RLBCX American BalancedPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between The Mutual Fund performing well and The Kansas 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 Kansas' 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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