Tax Exempt Correlations

AFTFX Fund

USD 12.47 0.01 0.08%

The current 90-days correlation between Tax Exempt Bond and Intermediate Bond Fund is 0.56 (i.e., Very weak diversification). The correlation of Tax Exempt 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.

Tax Exempt Correlation With Market

Good diversification

The correlation between Tax Exempt Bond and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tax Exempt Bond and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Tax Exempt 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 price.

Moving together with Tax Mutual Fund

0.95	AMHIX	American High Income	Pair Corr
0.98	TEBCX	Tax Exempt Bond	Pair Corr
0.99	TECCX	Tax Exempt Fund	Pair Corr
1.0	TECFX	Tax Exempt Fund	Pair Corr
0.77	AMUSX	Us Government Securities	Pair Corr
0.72	ANBEX	American Funds Strategic	Pair Corr
0.72	ANBAX	American Funds Strategic	Pair Corr
0.63	ANBCX	American Funds Strategic	Pair Corr
0.76	ANFCX	New Economy Fund	Pair Corr
0.76	ANEFX	New Economy Fund	Pair Corr
0.77	ANFFX	New Economy Fund	Pair Corr
0.66	BALCX	American Balanced	Pair Corr
0.62	FAATX	American Funds 2010	Pair Corr

Moving against Tax Mutual Fund

0.37	CWBCX	Capital World Bond	Pair Corr
0.36	CWBFX	Capital World Bond	Pair Corr

Related Correlations Analysis

	IBFFX	LTXFX	DBLTX	DLTNX	ANBEX	JHNBX	JBFRX	JHBIX	MWTIX	MWTSX
IBFFX		0.84	0.91	0.91	0.84	0.6	0.78	0.92	0.89	0.81	IBFFX
LTXFX	0.84		0.76	0.73	0.64	0.63	0.59	0.74	0.71	0.76	LTXFX
DBLTX	0.91	0.76		0.98	0.93	0.66	0.89	0.92	0.96	0.86	DBLTX
DLTNX	0.91	0.73	0.98		0.94	0.69	0.91	0.94	0.97	0.88	DLTNX
ANBEX	0.84	0.64	0.93	0.94		0.68	0.92	0.92	0.92	0.85	ANBEX
JHNBX	0.6	0.63	0.66	0.69	0.68		0.71	0.73	0.71	0.84	JHNBX
JBFRX	0.78	0.59	0.89	0.91	0.92	0.71		0.93	0.96	0.84	JBFRX
JHBIX	0.92	0.74	0.92	0.94	0.92	0.73	0.93		0.97	0.89	JHBIX
MWTIX	0.89	0.71	0.96	0.97	0.92	0.71	0.96	0.97		0.88	MWTIX
MWTSX	0.81	0.76	0.86	0.88	0.85	0.84	0.84	0.89	0.88		MWTSX
	IBFFX	LTXFX	DBLTX	DLTNX	ANBEX	JHNBX	JBFRX	JHBIX	MWTIX	MWTSX

Please upgrade your account to get full access to Macroaxis premium features

Risk-Adjusted Indicators

There is a big difference between Tax Mutual Fund performing well and Tax Exempt 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 Tax Exempt'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
IBFFX	0.11	0.00	(0.53)	0.14	0.04	(0.15)	0.24	(0.16)	0.71
LTXFX	0.05	0.00	(0.84)	(0.57)	0.00	(0.08)	0.06	(0.13)	0.38
DBLTX	0.15	0.00	(0.36)	0.05	0.14	(0.19)	0.34	(0.23)	1.01
DLTNX	0.14	0.00	(0.40)	(0.15)	0.09	(0.21)	0.34	(0.23)	0.79
ANBEX	0.13	(0.01)	(0.43)	(2.39)	0.13	(0.16)	0.21	(0.21)	0.85
JHNBX	0.16	0.00	(0.36)	0.30	0.18	(0.18)	0.29	(0.29)	0.80
JBFRX	0.16	(0.01)	(0.39)	(0.22)	0.18	(0.18)	0.29	(0.29)	0.87
JHBIX	0.16	(0.01)	(0.37)	(0.07)	0.17	(0.18)	0.29	(0.29)	0.80
MWTIX	0.17	(0.01)	(0.33)	(0.43)	0.19	(0.20)	0.33	(0.33)	0.97
MWTSX	0.17	(0.01)	(0.32)	(0.17)	0.20	(0.21)	0.35	(0.35)	1.04

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

2025 Macroaxis LLC