Tax Exempt Correlations

Mutual Funds . USA . 
Fund . Tax Exempt Bond Fund
RTEAX Fund  USD 21.46  0.04  0.19%   
The current 90-days correlation between Tax Exempt Bond and International Developed Markets is 0.16 (i.e., Average 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 0.06 (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 nation.

Moving together with Tax Mutual Fund

  0.85RNTTX International DevelopedPairCorr
  0.84RREAX Global Real EstatePairCorr
  0.84RREYX Global Real EstatePairCorr
  0.83RRESX Global Real EstatePairCorr
  0.83RRSCX Global Real EstatePairCorr
  0.83RRSRX Global Real EstatePairCorr
  0.88RALAX Growth StrategyPairCorr
  0.88RALCX Growth StrategyPairCorr
  0.88RALSX Growth StrategyPairCorr
  0.88RALRX Growth StrategyPairCorr
  0.88RALVX Growth StrategyPairCorr
  0.74RSBRX Strategic BondPairCorr
  0.86RSBTX Short Duration BondPairCorr
  0.84RSBYX Short Duration BondPairCorr
  0.88RSCRX Us Small CapPairCorr
  0.82RSBCX Short Duration BondPairCorr
  0.87RSECX Us Strategic EquityPairCorr
  0.87RSEAX Us Strategic EquityPairCorr
  0.87RSESX Us Strategic EquityPairCorr
  0.84RSDTX Short Duration BondPairCorr
  0.9RAZAX Multi Asset GrowthPairCorr
  0.89RAZCX Multi Asset GrowthPairCorr
  0.88RSQAX Us E EquityPairCorr
  1.0RBCUX Tax Exempt BondPairCorr
  0.74RSYTX Strategic BondPairCorr
  0.89RBLCX Balanced StrategyPairCorr
  0.89RBLAX Balanced StrategyPairCorr
  0.88RBLSX Balanced StrategyPairCorr
  0.89RBLVX Balanced StrategyPairCorr
  0.88RBLRX Balanced StrategyPairCorr
  0.87RTDAX Multifactor EquityPairCorr
  0.87RTDYX Select EquityPairCorr
  0.87RTDSX Select EquityPairCorr
  0.87RTDRX Select EquityPairCorr
  0.87RTDTX Select EquityPairCorr
  1.0RTECX Tax Exempt BondPairCorr
  0.62RTHSX Tax Exempt HighPairCorr
  0.86RTISX Select InternationalPairCorr

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  0.51  0.19  0.07 (3.66) 0.32 
(0.60)
 1.27 
(0.95)
 3.12 
RREAX  0.52  0.11 (0.04)(1.24) 0.59 
(0.53)
 1.36 
(1.15)
 3.71 
RREYX  0.52  0.11 (0.04)(1.33) 0.58 
(0.52)
 1.34 
(1.17)
 3.68 
RRESX  0.52  0.04 (0.04) 0.24  0.61 
(0.53)
 1.41 
(1.14)
 3.68 
RRSCX  0.52  0.04 (0.05) 0.23  0.63 
(0.52)
 1.36 
(1.14)
 3.70 
RRSRX  0.52  0.05 (0.04) 0.24  0.60 
(0.55)
 1.38 
(1.14)
 3.71 
RALAX  0.46  0.18  0.05 (2.64) 0.33 
(0.53)
 1.43 
(1.07)
 3.42 
RALCX  0.46  0.18  0.05 (2.61) 0.35 
(0.51)
 1.46 
(1.08)
 3.46 
RALSX  0.46  0.09  0.06  0.27  0.36 
(0.51)
 1.46 
(1.12)
 3.31 
RALRX  0.46  0.18  0.05 (2.69) 0.34 
(0.51)
 1.46 
(1.12)
 3.30 

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