Tax Exempt Correlations

Mutual Funds . USA . 
Fund . Tax Exempt High Yield
RTHSX Fund  USD 9.72  0.02  0.21%   
The current 90-days correlation between Tax Exempt High and Invesco Technology Fund is 0.08 (i.e., Significant 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 High Yield and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tax Exempt High Yield 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 High Yield. 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 main economic indicators.

Moving together with Tax Mutual Fund

  0.82RNTTX International DevelopedPairCorr
  0.69RREAX Global Real EstatePairCorr
  0.7RREYX Global Real EstatePairCorr
  0.69RRESX Global Real EstatePairCorr
  0.66RRSCX Global Real EstatePairCorr
  0.7RRSRX Global Real EstatePairCorr
  0.93RALAX Growth StrategyPairCorr
  0.93RALCX Growth StrategyPairCorr
  0.93RALSX Growth StrategyPairCorr
  0.93RALRX Growth StrategyPairCorr
  0.93RALVX Growth StrategyPairCorr
  0.96RSBRX Strategic BondPairCorr
  0.95RSBTX Short Duration BondPairCorr
  0.95RSBYX Short Duration BondPairCorr
  0.76RSCRX Us Small CapPairCorr
  0.94RSBCX Short Duration BondPairCorr
  0.88RSECX Us Strategic EquityPairCorr
  0.89RSEAX Us Strategic EquityPairCorr
  0.89RSESX Us Strategic EquityPairCorr
  0.94RSDTX Short Duration BondPairCorr
  0.95RAZAX Multi Asset GrowthPairCorr
  0.94RAZCX Multi Asset GrowthPairCorr
  0.71RSQAX Us E EquityPairCorr
  1.0RBCUX Tax Exempt BondPairCorr
  0.96RSYTX Strategic BondPairCorr
  0.94RBLCX Balanced StrategyPairCorr
  0.95RBLAX Balanced StrategyPairCorr
  0.94RBLSX Balanced StrategyPairCorr
  0.94RBLVX Balanced StrategyPairCorr
  0.94RBLRX Balanced StrategyPairCorr
  0.91RTDAX Multifactor EquityPairCorr
  0.91RTDCX Multifactor EquityPairCorr
  0.91RTDYX Select EquityPairCorr
  0.91RTDSX Select EquityPairCorr
  0.91RTDRX Select EquityPairCorr
  0.91RTDTX Select EquityPairCorr
  1.0RTEAX Tax Exempt BondPairCorr
  1.0RTECX Tax Exempt BondPairCorr
  1.0RTHAX Tax Exempt HighPairCorr
  1.0RTHCX Tax Exempt HighPairCorr

Related Correlations Analysis


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.

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