Schwab California Correlations

Mutual Funds . USA . 
Fund . Schwab California Tax Free
SWCAX Fund  USD 11.20  0.02  0.18%   
The current 90-days correlation between Schwab California Tax and T Rowe Price is -0.22 (i.e., Very good diversification). The correlation of Schwab California 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.

Schwab California Correlation With Market

Very good diversification

The correlation between Schwab California Tax Free and DJI is -0.3 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Schwab California Tax Free 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 Schwab California Tax Free. 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 nation.

Moving together with Schwab Mutual Fund

  0.62SWCGX Schwab MarkettrackPairCorr
  0.7SWAGX Schwab Aggregate BondPairCorr
  0.67SWASX Schwab Global RealPairCorr
  0.98SWHYX Schwab OpportunisticPairCorr
  0.7SWKRX Schwab Monthly IncomePairCorr
  0.7SWJRX Schwab Monthly IncomePairCorr
  0.74SWLRX Schwab Monthly IncomePairCorr
  0.99SWNTX Schwab Tax FreePairCorr
  0.71SWRSX Schwab Treasury InflationPairCorr
  0.72SWSBX Schwab Short TermPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Schwab Mutual Fund performing well and Schwab California 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 Schwab California'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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