Tax Exempt Correlations

Mutual Funds . USA . 
Fund . Tax Exempt Bond Fund
RBCUX Fund  USD 21.34  0.02  0.09%   
The current 90-days correlation between Tax Exempt Bond and International Developed Markets is 0.2 (i.e., Modest diversification). The correlation of Tax Exempt 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.

Tax Exempt Correlation With Market

Significant diversification

The correlation between Tax Exempt Bond Fund and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tax Exempt Bond Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Tax Exempt Bond Fund. 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 employment.

Moving together with Tax Mutual Fund

  0.88RNTTX International DevelopedPairCorr
  0.86RREAX Global Real EstatePairCorr
  0.86RREYX Global Real EstatePairCorr
  0.86RRESX Global Real EstatePairCorr
  0.86RRSCX Global Real EstatePairCorr
  0.86RRSRX Global Real EstatePairCorr
  0.91RALAX Growth StrategyPairCorr
  0.91RALCX Growth StrategyPairCorr
  0.91RALSX Growth StrategyPairCorr
  0.91RALRX Growth StrategyPairCorr
  0.91RALVX Growth StrategyPairCorr
  0.77RSBRX Strategic BondPairCorr
  0.9RSBTX Short Duration BondPairCorr
  0.88RSBYX Short Duration BondPairCorr
  0.9RSCRX Us Small CapPairCorr
  0.86RSBCX Short Duration BondPairCorr
  0.89RSECX Us Strategic EquityPairCorr
  0.89RSEAX Us Strategic EquityPairCorr
  0.9RSESX Us Strategic EquityPairCorr
  0.88RSDTX Short Duration BondPairCorr
  0.92RAZAX Multi Asset GrowthPairCorr
  0.92RAZCX Multi Asset GrowthPairCorr
  0.91RSQAX Us E EquityPairCorr
  0.77RSYTX Strategic BondPairCorr
  0.92RBLCX Balanced StrategyPairCorr
  0.92RBLAX Balanced StrategyPairCorr
  0.92RBLSX Balanced StrategyPairCorr
  0.91RBLVX Balanced StrategyPairCorr
  0.91RBLRX Balanced StrategyPairCorr
  0.89RTDAX Multifactor EquityPairCorr
  0.89RTDCX Multifactor EquityPairCorr
  0.89RTDYX Select EquityPairCorr
  0.89RTDSX Select EquityPairCorr
  0.89RTDRX Select EquityPairCorr
  0.89RTDTX Select EquityPairCorr
  0.96RTEAX Tax Exempt BondPairCorr
  0.96RTECX Tax Exempt BondPairCorr
  0.62RTHSX Tax Exempt High Potential GrowthPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Tax Mutual Fund performing well and Tax Exempt 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 Tax Exempt'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
RNTTX  0.52  0.22  0.12 (3.29) 0.27 
(0.63)
 1.40 
(0.95)
 3.12 
RREAX  0.55  0.14 (0.01)(1.30) 0.56 
(0.57)
 1.44 
(1.15)
 3.71 
RREYX  0.54  0.14 (0.01)(1.38) 0.56 
(0.56)
 1.42 
(1.17)
 3.69 
RRESX  0.55  0.14 (0.01)(1.30) 0.58 
(0.56)
 1.46 
(1.14)
 3.68 
RRSCX  0.54  0.13 (0.01)(1.27) 0.57 
(0.55)
 1.45 
(1.14)
 3.70 
RRSRX  0.54  0.14 (0.01)(1.30) 0.54 
(0.59)
 1.46 
(1.14)
 3.72 
RALAX  0.47  0.20  0.08 (2.58) 0.32 
(0.54)
 1.43 
(1.07)
 3.42 
RALCX  0.46  0.20  0.07 (2.55) 0.32 
(0.52)
 1.46 
(1.08)
 3.46 
RALSX  0.47  0.20  0.08 (2.45) 0.34 
(0.52)
 1.46 
(1.12)
 3.31 
RALRX  0.47  0.20  0.08 (2.61) 0.33 
(0.52)
 1.46 
(1.12)
 3.30 

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