Delaware Tax Correlations

Mutual Funds . USA . 
Fund . Delaware Tax Free Orado
VCTFX Fund  USD 9.83  0.04  0.41%   
The current 90-days correlation between Delaware Tax Free and T Rowe Price is 0.4 (i.e., Very weak diversification). The correlation of Delaware Tax 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.

Delaware Tax Correlation With Market

Good diversification

The correlation between Delaware Tax Free Orado and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Delaware Tax Free Orado 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 Delaware Tax Free Orado. 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 census.

Moving together with Delaware Mutual Fund

  0.65IMAAX Ivy Apollo MultiPairCorr
  0.68CXHYX Delaware National HighPairCorr
  0.65FTNYX Delaware Tax FreePairCorr
  0.82FTORX First Investors TaxPairCorr
  0.83FTOTX First Investors TaxPairCorr
  0.83DMHIX Delaware Minnesota HighPairCorr
  0.84DMOCX Delaware Tax FreePairCorr
  0.84DMNIX Delaware Tax FreePairCorr
  0.94DMTFX Delaware Tax FreePairCorr
  0.78DMUSX Delaware Tax FreePairCorr
  0.68VAZIX Delaware Tax FreePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Delaware Mutual Fund performing well and Delaware Tax 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 Delaware Tax'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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