Taxable Municipal Correlations

Mutual Funds USA . 
Fund . Taxable Municipal Bond
DUTMX Fund  USD 7.55  0.03  0.40%   
The current 90-days correlation between Taxable Municipal Bond and Invesco Technology Fund is -0.33 (i.e., Very good diversification). The correlation of Taxable Municipal 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.

Taxable Municipal Correlation With Market

Good diversification

The correlation between Taxable Municipal Bond and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Taxable Municipal Bond 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 Taxable Municipal 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 population.

Moving together with Taxable Mutual Fund

  0.67NTFIX North Carolina TaxPairCorr
  0.65KYSMX Kentucky Tax FreePairCorr
  0.68NTSMX North Carolina TaxPairCorr
  0.68KYTFX Kentucky Tax FreePairCorr
  0.65TNTIX Tennessee Tax FreePairCorr
  0.71DUALX Alabama Tax FreePairCorr
  0.68DUMSX Mississippi Tax FreePairCorr
  0.95VWETX Vanguard Long TermPairCorr
  0.95VWESX Vanguard Long TermPairCorr
  0.96VBLAX Vanguard Long TermPairCorr
  0.96VBLLX Vanguard Long TermPairCorr
  0.96VBLIX Vanguard Long TermPairCorr
  0.95SLDAX Siit Long DurationPairCorr
  0.94VLTCX Vanguard Long TermPairCorr
  0.94VLCIX Vanguard Long TermPairCorr
  0.97PLRIX Pimco Long TermPairCorr
  0.97PLRPX Pimco Long DurationPairCorr
  0.73USPSX Profunds UltrashortPairCorr
  0.73USPIX Profunds UltrashortPairCorr
  0.61UIPIX Ultrashort Mid CapPairCorr
  0.69VCMIX Versus Capital MultiPairCorr

Moving against Taxable Mutual Fund

  0.82PYARX Payden Absolute ReturnPairCorr
  0.81PYAIX Payden Absolute ReturnPairCorr
  0.73FSLBX Brokerage And InvestmentPairCorr
  0.7FTCAX Templeton Strained BondPairCorr
  0.7PRISX T Rowe PricePairCorr
  0.7FAGIX Fidelity Capital IncomePairCorr
  0.59BCAAX Brandywineglobal CPairCorr
  0.57VIVIX Vanguard Value IndexPairCorr
  0.54NDMSX Nationwide InvestorPairCorr
  0.53SSCCX Small CapitalizationPairCorr
  0.53GVCIX Gabelli ValPairCorr
  0.45BCX Blackrock ResourcesPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Taxable Mutual Fund performing well and Taxable Municipal 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 Taxable Municipal'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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