Kentucky Tax Correlations

KYSMX Fund

USD 5.15 0.01 0.19%

The current 90-days correlation between Kentucky Tax Free and Tax Managed Large Cap is -0.09 (i.e., Good diversification). The correlation of Kentucky 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.

Kentucky Tax Correlation With Market

Significant diversification

The correlation between Kentucky Tax Free Short To Med and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kentucky Tax Free Short To Med and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Kentucky Tax Free Short To Medium. 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 Kentucky Mutual Fund

0.9	NTFIX	North Carolina Tax	Pair Corr
0.93	NTSMX	North Carolina Tax	Pair Corr
0.91	KYTFX	Kentucky Tax Free	Pair Corr
0.86	TNTIX	Tennessee Tax Free	Pair Corr
0.87	DUALX	Alabama Tax Free	Pair Corr
0.92	DUMSX	Mississippi Tax Free	Pair Corr
0.88	TTSMX	Tennessee Tax Free	Pair Corr
0.82	ANIYX	New York Municipal	Pair Corr
0.82	SNNYX	New York Municipal	Pair Corr
0.74	LTBYX	Opnhmr Rchstr	Pair Corr
0.64	IORMX	Aim Taxexempt Funds	Pair Corr
0.66	LTNCX	Oppenheimer Rochester	Pair Corr
0.75	LTNYX	Opnhmr Rchstr	Pair Corr
0.82	ANMCX	New York Municipal	Pair Corr
0.81	ANIAX	New York Municipal	Pair Corr
0.86	SNCAX	California Municipal	Pair Corr
0.86	AICYX	California Municipal	Pair Corr

Moving against Kentucky Mutual Fund

0.55	FCWRX	Templeton China World	Pair Corr
0.42	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.42	LSHAX	Horizon Spin Off Steady Growth	Pair Corr
0.42	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.41	LSHEX	Kinetics Spin Off Steady Growth	Pair Corr
0.41	LSHCX	Horizon Spin Off Steady Growth	Pair Corr
0.37	FSRFX	Transportation Portfolio	Pair Corr
0.35	SMPSX	Semiconductor Ultrasector	Pair Corr
0.35	SMPIX	Semiconductor Ultrasector	Pair Corr
0.34	WCPSX	Mobile Telecommunicatio	Pair Corr
0.34	AMEIX	Equity Growth	Pair Corr
0.32	GCPYX	Gateway Equity Call	Pair Corr

Related Correlations Analysis

	RETSX	AAARX	TRLGX	TRBCX	VBFIX	RCLIX	PLAAX	MSTSX
RETSX		0.96	0.98	0.98	0.72	0.95	0.99	0.66	RETSX
AAARX	0.96		0.91	0.91	0.81	0.9	0.94	0.72	AAARX
TRLGX	0.98	0.91		0.99	0.63	0.93	0.99	0.59	TRLGX
TRBCX	0.98	0.91	0.99		0.68	0.92	0.99	0.65	TRBCX
VBFIX	0.72	0.81	0.63	0.68		0.73	0.68	0.95	VBFIX
RCLIX	0.95	0.9	0.93	0.92	0.73		0.93	0.66	RCLIX
PLAAX	0.99	0.94	0.99	0.99	0.68	0.93		0.62	PLAAX
MSTSX	0.66	0.72	0.59	0.65	0.95	0.66	0.62		MSTSX
	RETSX	AAARX	TRLGX	TRBCX	VBFIX	RCLIX	PLAAX	MSTSX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Kentucky Mutual Fund performing well and Kentucky 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 Kentucky 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RETSX	0.53	(0.01)	(0.04)	0.12	0.63	(0.56)	1.04	(1.46)	4.06
AAARX	0.43	(0.01)	(0.09)	0.11	0.44	(0.51)	0.93	(0.70)	2.37
TRLGX	0.66	0.02	0.00	0.16	0.90	(0.63)	1.50	(1.94)	4.73
TRBCX	0.72	0.03	0.01	0.16	0.93	(0.68)	1.66	(2.18)	4.86
VBFIX	0.35	0.02	(0.23)	0.43	0.39	(0.40)	0.70	(0.79)	2.01
RCLIX	0.53	0.06	(0.08)	3.23	0.68	(0.55)	1.10	(1.49)	4.03
PLAAX	0.62	0.02	0.00	0.16	0.77	(0.61)	1.45	(1.94)	4.19
MSTSX	0.49	0.04	(0.14)	(0.75)	0.52	(0.61)	1.21	(1.02)	2.80

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC