Tax Exempt Correlations

Mutual Funds . USA . 
Fund . Tax Exempt Fund Of
TEFEX Fund  USD 16.05  0.04  0.25%   
The current 90-days correlation between Tax Exempt Fund and Pace International Emerging is -0.03 (i.e., Good 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 Fund Of and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tax Exempt Fund Of and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Tax Exempt Fund Of. 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 income.

Moving together with Tax Mutual Fund

  0.84AMHIX American High IncomePairCorr
  0.99TEBCX Tax Exempt BondPairCorr
  0.98TECCX Tax Exempt FundPairCorr
  0.97TEAFX Tax Exempt BondPairCorr
  0.88TECFX Tax Exempt FundPairCorr

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.

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