Intermediate Tax/amt-free Correlations

Mutual Funds . USA . 
Fund . Intermediate Taxamt Free Fund
WITIX Fund  USD 10.71  0.02  0.19%   
The current 90-days correlation between Intermediate Tax/amt-free and Wells Fargo Advantage is 0.91 (i.e., Almost no diversification). The correlation of Intermediate Tax/amt-free 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 Tax/amt-free Correlation With Market

Good diversification

The correlation between Intermediate Taxamt Free Fund and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Intermediate Taxamt Free Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Intermediate Taxamt Free Fund. 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 gross domestic product.

Moving together with Intermediate Mutual Fund

  0.99DHICX Wells Fargo AdvantagePairCorr
  0.99VMPYX Wells Fargo AdvantagePairCorr
  0.99VMPAX Wells Fargo AdvantagePairCorr
  0.94SADAX Wells Fargo UltraPairCorr
  0.94SADIX Wells Fargo UltraPairCorr
  0.92EMGYX Wells Fargo EmergingPairCorr
  0.92EMGNX Wells Fargo EmergingPairCorr
  0.92EMGCX Wells Fargo EmergingPairCorr
  0.92EMGAX Wells Fargo EmergingPairCorr
  0.88SSHIX Wells Fargo ShortPairCorr
  0.95SSTHX Wells Fargo ShortPairCorr
  0.92SSTVX Wells Fargo ShortPairCorr
  0.91WSCGX Small Pany GrowthPairCorr
  0.93WSCOX Wells Fargo AdvantagePairCorr
  0.95WSBIX Short Term MunicipalPairCorr
  0.91STAFX Wells Fargo LargePairCorr
  0.78WSGIX Wells Fargo ShortPairCorr
  0.91STDFX Wells Fargo LargePairCorr
  0.89WSIAX Wells Fargo StrategicPairCorr
  0.89WSIDX Wells Fargo StrategicPairCorr
  0.92WSICX Wells Fargo StrategicPairCorr
  0.93WSINX Wells Fargo StrategicPairCorr
  0.95WSMAX Short Term MunicipalPairCorr
  0.91WSMCX Small Pany GrowthPairCorr
  0.94WSSCX Short Term MunicipalPairCorr
  0.95WSTMX Short Term MunicipalPairCorr
  0.91STOFX Wells Fargo LargePairCorr
  0.91STNFX Wells Fargo LargePairCorr
  0.91STSAX Wells Fargo MonPairCorr
  0.96STRIX Wells Fargo AdvantagePairCorr
  0.84STYAX Wells Fargo IncomePairCorr
  0.94STYIX Wells Fargo ShortPairCorr
  0.91SCNSX Wells Fargo MonPairCorr
  0.91SCSDX Wells Fargo MonPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Intermediate Mutual Fund performing well and Intermediate Tax/amt-free 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 Tax/amt-free'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
DHICX  0.10  0.02 (0.58)(1.03) 0.00 
(0.16)
 0.23 
(0.23)
 0.81 
VMPYX  0.11  0.02 (0.59)(0.73) 0.00 
(0.18)
 0.23 
(0.23)
 0.93 
VMPAX  0.11  0.02 (0.64)(7.36) 0.00 
(0.17)
 0.23 
(0.23)
 0.70 
SADAX  0.06  0.02  0.00  5.50  0.00 
 0.00 
 0.11 
(0.11)
 0.57 
SADIX  0.05  0.02  0.00 (8.44) 0.00 
 0.00 
 0.12 
 0.00 
 0.46 
EMGYX  0.52  0.21  0.22  0.62  0.00 
(0.64)
 1.84 
(0.92)
 3.58 
EMGNX  0.52  0.21  0.23  0.63  0.00 
(0.64)
 1.84 
(0.93)
 3.54 
EMGCX  0.55  0.28  0.24 (91.80) 0.00 
(0.66)
 1.83 
(0.95)
 3.54 
EMGAX  0.53  0.28  0.24 (107.14) 0.00 
(0.64)
 1.79 
(0.93)
 3.58 
SSHIX  0.07  0.02 (0.76)(4.23) 0.00 
(0.13)
 0.12 
(0.12)
 0.47 

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