Tax-managed Correlations

Mutual Funds . USA . 
Fund . Tax Managed Mid Small
RTSCX Fund  USD 31.59  0.15  0.47%   
The current 90-days correlation between Tax Managed Mid and International Developed Markets is 0.64 (i.e., Poor diversification). The correlation of Tax-managed 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-managed Correlation With Market

Very poor diversification

The correlation between Tax Managed Mid Small and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tax Managed Mid Small 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 Managed Mid Small. 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-managed Mutual Fund

  0.94RNTTX International DevelopedPairCorr
  0.86RREAX Global Real EstatePairCorr
  0.87RREYX Global Real EstatePairCorr
  0.86RRESX Global Real EstatePairCorr
  0.86RRSCX Global Real EstatePairCorr
  0.87RRSRX Global Real EstatePairCorr
  0.99RALAX Growth StrategyPairCorr
  0.99RALCX Growth StrategyPairCorr
  0.99RALSX Growth StrategyPairCorr
  0.99RALRX Growth StrategyPairCorr
  0.99RALVX Growth StrategyPairCorr
  0.64RSBRX Strategic BondPairCorr
  0.85RSBTX Short Duration BondPairCorr
  0.85RSBYX Short Duration BondPairCorr
  1.0RSCRX Us Small CapPairCorr
  0.82RSBCX Short Duration BondPairCorr
  0.99RSECX Us Strategic EquityPairCorr
  0.99RSEAX Us Strategic EquityPairCorr
  0.99RSESX Us Strategic EquityPairCorr
  0.85RSDTX Short Duration BondPairCorr
  0.98RAZAX Multi Asset GrowthPairCorr
  0.98RAZCX Multi Asset GrowthPairCorr
  0.99RSQAX Us E EquityPairCorr
  0.9RBCUX Tax Exempt BondPairCorr
  0.98RBLCX Balanced StrategyPairCorr
  0.98RBLAX Balanced StrategyPairCorr
  0.98RBLSX Balanced StrategyPairCorr
  0.98RBLVX Balanced StrategyPairCorr
  0.98RBLRX Balanced StrategyPairCorr
  0.99RTDAX Multifactor EquityPairCorr
  0.99RTDCX Multifactor EquityPairCorr
  0.99RTDYX Select EquityPairCorr
  0.99RTDSX Select EquityPairCorr
  0.99RTDTX Select EquityPairCorr
  0.89RTEAX Tax Exempt BondPairCorr
  0.87RTECX Tax Exempt BondPairCorr
  0.94RTISX Select InternationalPairCorr
  0.94RTIRX Select InternationalPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Tax-managed Mutual Fund performing well and Tax-managed 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-managed'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  0.13  0.08  0.43  0.32 
(0.60)
 1.27 
(0.95)
 3.12 
RREAX  0.52  0.04 (0.04) 0.24  0.59 
(0.53)
 1.36 
(1.15)
 3.71 
RREYX  0.52  0.05 (0.04) 0.24  0.58 
(0.52)
 1.34 
(1.17)
 3.68 
RRESX  0.52  0.05 (0.04) 0.24  0.61 
(0.52)
 1.41 
(1.14)
 3.68 
RRSCX  0.52  0.04 (0.04) 0.23  0.63 
(0.52)
 1.36 
(1.14)
 3.70 
RRSRX  0.52  0.05 (0.04) 0.24  0.61 
(0.54)
 1.38 
(1.14)
 3.71 
RALAX  0.46  0.09  0.06  0.26  0.33 
(0.53)
 1.43 
(1.07)
 3.42 
RALCX  0.46  0.08  0.06  0.26  0.35 
(0.51)
 1.46 
(1.08)
 3.46 
RALSX  0.46  0.09  0.06  0.27  0.35 
(0.51)
 1.46 
(1.12)
 3.31 
RALRX  0.46  0.09  0.06  0.27  0.34 
(0.51)
 1.46 
(1.12)
 3.30 

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