Limited Term Correlations

Mutual Funds . USA . 
Fund . Limited Term Tax
LTXFX Fund  USD 15.40  0.01  0.07%   
The current 90-days correlation between Limited Term Tax and Columbia Government Mortgage is 0.23 (i.e., Modest diversification). The correlation of Limited Term 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.

Limited Term Correlation With Market

Significant diversification

The correlation between Limited Term Tax and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Limited Term Tax 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 Limited Term Tax. 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 census.

Moving together with Limited Mutual Fund

  0.9AMECX Income FundPairCorr
  0.9RNEBX New World FundPairCorr
  0.9AMFCX American MutualPairCorr
  0.9AMFFX American MutualPairCorr
  0.97RNCCX American Funds IncomePairCorr
  0.74FPPPX American Funds PresePairCorr
  0.96AMEFX Income FundPairCorr
  0.9RNGGX New Economy FundPairCorr
  0.96RNGFX New Economy FundPairCorr
  0.9RNGHX New Economy FundPairCorr
  0.9RNGBX New Economy FundPairCorr
  0.96RNGAX New Economy FundPairCorr
  0.96RNGEX New Economy FundPairCorr
  0.96RNGCX New Economy FundPairCorr
  0.8AMHIX American High IncomePairCorr
  0.69TEBCX Tax Exempt BondPairCorr
  0.67TECCX Tax Exempt FundPairCorr
  0.87TEAFX Tax Exempt BondPairCorr
  0.91FPTPX American Funds ConsePairCorr
  0.64TECFX Tax Exempt FundPairCorr
  0.79TEFEX Tax Exempt FundPairCorr
  0.96RNNEX New Economy FundPairCorr
  0.96CDJAX American Funds CollegePairCorr
  0.95AMPCX Amcap Fund ClassPairCorr
  0.95RNPBX New PerspectivePairCorr
  0.95RNPAX New PerspectivePairCorr
  0.9RNPHX New PerspectivePairCorr
  0.95RNPEX New PerspectivePairCorr
  0.9AMRMX American MutualPairCorr
  0.9AMRFX American MutualPairCorr
  0.63RNRPX American Funds RetirementPairCorr
  0.88TEPCX American Funds TaxPairCorr
  0.93TEPAX American Funds TaxPairCorr
  0.93TEPFX American Funds TaxPairCorr
  0.9RNWFX New World FundPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Limited Mutual Fund performing well and Limited Term 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 Limited Term'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.

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