Tax-free Conservative Correlations

Mutual Funds . USA . 
Fund . Tax Free Conservative
TFCYX Fund  USD 10.02  0.00  0.00%   
The current 90-days correlation between Tax Free Conservative and Segall Bryant Hamill is 0.02 (i.e., Significant diversification). The correlation of Tax-free Conservative 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-free Conservative Correlation With Market

Very good diversification

The correlation between Tax Free Conservative and DJI is -0.24 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tax Free Conservative 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 Free Conservative. 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 manufacturing.

Moving together with Tax-free Mutual Fund

  0.69TFCAX Tax Free ConservativePairCorr
  0.9STMSX Simt Tax ManagedPairCorr
  0.65SCXIX Sei Insti MgdPairCorr
  0.73SUSAX Siit Ultra ShortPairCorr
  0.66SECAX Siit Small CapPairCorr
  0.67SEDAX Siit Emerging MarketsPairCorr
  0.7SEHAX Siit Equity FactorPairCorr
  0.73SEITX Sit International EquityPairCorr
  0.72AAEZX Enhanced Fixed IncomePairCorr
  0.72LLOAX Sei Institutional ManagedPairCorr
  0.72SXMAX Saat Moderate StrategyPairCorr
  0.69SGMAX Siit Global ManagedPairCorr
  0.71SGYAX Siit High YieldPairCorr
  0.62SISAX Saat Tax ManagedPairCorr
  0.92SMAAX Aig Government MoneyPairCorr
  0.9SMGAX Saat Servative StrategyPairCorr
  0.69SMXAX Siit Extended MarketPairCorr
  0.62LCIAX Siit Large CapPairCorr
  0.89VMLTX Vanguard Limited TermPairCorr
  0.9VMLUX Vanguard Limited TermPairCorr
  0.86VWSTX Vanguard Short TermPairCorr
  0.87VWSUX Vanguard Short TermPairCorr
  0.92GDUSX Goldman Sachs ShortPairCorr
  0.91GANPX Goldman Sachs ShortPairCorr
  0.89SNDPX Diversified MunicipalPairCorr
  0.89AIDYX Diversified MunicipalPairCorr
  0.89AIDZX Diversified MunicipalPairCorr
  0.64CISGX Touchstone Sands CapitalPairCorr
  0.74WRHIX Ivy High IncomePairCorr
  0.82FDBCX Federated BondPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Tax-free Mutual Fund performing well and Tax-free Conservative 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-free Conservative'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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