Intermediate-term Correlations

Mutual Funds . USA . 
Fund . Intermediate Term Tax Free Bond
TWWOX Fund  USD 10.50  0.01  0.1%   
The current 90-days correlation between Intermediate Term Tax and Rational Defensive Growth is 0.23 (i.e., Modest diversification). The correlation of Intermediate-term 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.

Intermediate-term Correlation With Market

Good diversification

The correlation between Intermediate Term Tax Free Bon and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Intermediate Term Tax Free Bon 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 Intermediate Term Tax Free Bond. 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 persons.

Moving together with Intermediate-term Mutual Fund

  0.87AMDVX Mid Cap ValuePairCorr
  0.89AMEIX Equity GrowthPairCorr
  0.89AMGIX Income GrowthPairCorr
  0.83CDBCX Diversified BondPairCorr
  0.89AMKIX Emerging MarketsPairCorr
  0.77TWACX Short Term GovernmentPairCorr
  0.9TWADX Value Fund APairCorr
  0.87TWCCX Ultra Fund CPairCorr
  0.87TWCAX Select Fund APairCorr
  0.87TWCIX Select Fund InvestorPairCorr
  0.87TWCGX Growth Fund InvestorPairCorr
  0.71TWARX Short Term GovernmentPairCorr
  0.84TWAVX Short Term GovernmentPairCorr
  0.86AMVYX Mid Cap ValuePairCorr
  0.87AMVRX Mid Cap ValuePairCorr
  0.9TWBIX Balanced Fund InvestorPairCorr
  0.87AMVGX Mid Cap ValuePairCorr
  0.85TWEAX Equity IncomePairCorr
  0.87TWEIX Equity IncomePairCorr
  0.87TWCUX Ultra Fund InvestorPairCorr
  0.84TWGAX International GrowthPairCorr
  0.87TWGIX Growth Fund IPairCorr
  0.89TWGGX Global GrowthPairCorr
  0.82TWIEX International GrowthPairCorr
  0.88TWHIX Heritage Fund InvestorPairCorr
  0.89TWMIX Emerging MarketsPairCorr
  0.87TWRCX Growth Fund CPairCorr
  0.95TWTCX Intermediate Term TaxPairCorr
  0.96TWTIX Intermediate Term TaxPairCorr
  0.92TWSCX Strategic Allocation:PairCorr
  0.91TWSAX Strategic Allocation:PairCorr
  0.91TWSMX Strategic Allocation:PairCorr
  0.87TWSIX Select Fund IPairCorr
  0.78TWUSX Short Term GovernmentPairCorr
  0.89TWVLX Value Fund InvestorPairCorr
  0.87TWUAX Ultra Fund APairCorr
  0.87TWUIX Ultra Fund IPairCorr
  0.78TWUOX Short Term GovernmentPairCorr
  0.91NPHIX High Income FundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Intermediate-term Mutual Fund performing well and Intermediate-term 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 Intermediate-term'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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