Tax Exempt Correlations

RTEAX Fund  USD 21.48  0.02  0.09%   
The current 90-days correlation between Tax Exempt Bond and 1919 Financial Services is 0.18 (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

Average diversification

The correlation between Tax Exempt Bond Fund and DJI is 0.17 (i.e., Average 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

  0.74VWITX Vanguard IntermediatePairCorr
  0.74VWIUX Vanguard Intermediate-terPairCorr
  0.62AFTEX Tax Exempt BondPairCorr
  0.62AFTFX Tax Exempt BondPairCorr
  0.65TEAFX Tax Exempt BondPairCorr
  0.69TFEBX Tax Exempt BondPairCorr
  0.74FLTMX Fidelity IntermediatePairCorr
  0.71GAAKX Gmo Alternative AlloPairCorr
  0.71GAAGX Gmo Alternative AlloPairCorr
  0.69GPBFX Gmo E PlusPairCorr
  0.62PSHAX Short Term FundPairCorr
  0.63FISVX Fidelity Small CapPairCorr
  0.62SPSDX Sterling Capital BehPairCorr
  0.63FFFCX Fidelity Freedom 2010PairCorr
  0.68CSCO Cisco SystemsPairCorr
  0.75IBM International BusinessPairCorr
  0.66AXP American ExpressPairCorr
  0.63CAT CaterpillarPairCorr
  0.67CVX Chevron CorpPairCorr

Moving against Tax Mutual Fund

  0.72MCD McDonaldsPairCorr
  0.39TRV The Travelers CompaniesPairCorr
  0.35PG Procter Gamble Earnings Call This WeekPairCorr
  0.31KO Coca ColaPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
DVFYXSBFAX
PSSRXSBFAX
RPFGXDVFYX
PSSRXDVFYX
RPFGXPGFMX
RPFGXFIDAX
  
High negative correlations   
XFINXPGFMX
RPFGXXFINX
XFINXDVFYX
XFINXFIDAX
PSSRXXFINX
ICFAXXFINX

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.