Mississippi Tax-free Correlations

DUMSX Fund

USD 11.13 0.02 0.18%

The current 90-days correlation between Mississippi Tax Free and North Carolina Tax Free is 0.98 (i.e., Almost no diversification). The correlation of Mississippi Tax-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.

Mississippi Tax-free Correlation With Market

Average diversification

The correlation between Mississippi Tax Free Income and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mississippi Tax Free Income and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Mississippi Tax Free Income. 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 state.

Moving together with Mississippi Mutual Fund

0.99	NTFIX	North Carolina Tax	Pair Corr
0.92	KYSMX	Kentucky Tax Free	Pair Corr
0.92	NTSMX	North Carolina Tax	Pair Corr
0.99	KYTFX	Kentucky Tax Free	Pair Corr
0.98	TNTIX	Tennessee Tax Free	Pair Corr
0.98	DUALX	Alabama Tax Free	Pair Corr
0.86	TTSMX	Tennessee Tax Free	Pair Corr
0.83	UVABX	Virginia Bond	Pair Corr
0.96	HULYX	Hawaiian Tax Free	Pair Corr
0.89	HULFX	Hawaiian Tax Free	Pair Corr
0.9	ORTYX	Aquila Tax Free	Pair Corr
0.82	UVAIX	Usaa Virginia Bond	Pair Corr
0.82	USVAX	Virginia Bond	Pair Corr
0.9	HULAX	Hawaiian Tax Free	Pair Corr
0.67	VEMBX	Vanguard Emerging Markets	Pair Corr

Moving against Mississippi Mutual Fund

0.32	KSOCX	Kinetics Small Cap	Pair Corr
0.57	LETRX	Voya Russia Fund	Pair Corr
0.32	KSCYX	Kinetics Small Cap	Pair Corr
0.32	KSCOX	Kinetics Small Cap	Pair Corr
0.31	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.31	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.31	KNPAX	Kinetics Paradigm Steady Growth	Pair Corr
0.31	LSHUX	Horizon Spin Off Steady Growth	Pair Corr

Related Correlations Analysis

	NTFIX	KYSMX	NTSMX	DPIGX	TNTIX	TTSMX
NTFIX		0.9	0.91	0.44	0.99	0.85	NTFIX
KYSMX	0.9		0.93	0.52	0.86	0.88	KYSMX
NTSMX	0.91	0.93		0.56	0.89	0.94	NTSMX
DPIGX	0.44	0.52	0.56		0.4	0.68	DPIGX
TNTIX	0.99	0.86	0.89	0.4		0.84	TNTIX
TTSMX	0.85	0.88	0.94	0.68	0.84		TTSMX
	NTFIX	KYSMX	NTSMX	DPIGX	TNTIX	TTSMX

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Risk-Adjusted Indicators

There is a big difference between Mississippi Mutual Fund performing well and Mississippi Tax-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 Mississippi Tax-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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NTFIX	0.12	0.00	(0.32)	0.00	0.16	(0.21)	0.28	(0.28)	1.12
KYSMX	0.06	(0.01)	(0.44)	(0.32)	0.05	(0.19)	0.19	(0.19)	0.58
NTSMX	0.04	(0.01)	(0.85)	(0.53)	0.00	(0.11)	0.10	(0.10)	0.38
DPIGX	0.05	0.00	(0.98)	0.00	0.00	(0.14)	0.21	(0.11)	0.42
TNTIX	0.15	0.00	(0.27)	0.11	0.22	(0.24)	0.38	(0.38)	1.43
TTSMX	0.03	(0.01)	(0.88)	2.92	0.00	(0.12)	0.10	(0.10)	0.39

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