Deutsche California Correlations

KCTAX Fund

USD 6.62 0.01 0.15%

The current 90-days correlation between Deutsche California Tax and Guidemark Large Cap is 0.13 (i.e., Average diversification). The correlation of Deutsche 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.

Deutsche California Correlation With Market

Good diversification

The correlation between Deutsche California Tax Free and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Deutsche California Tax Free 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 Deutsche 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 various price indices.

Moving together with Deutsche Mutual Fund

0.84	SMPIX	Semiconductor Ultrasector	Pair Corr
0.9	RYVYX	Nasdaq 100 2x	Pair Corr
0.72	JPM	JPMorgan Chase	Pair Corr
0.79	INTC	Intel	Pair Corr
0.85	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.75	AXP	American Express	Pair Corr
0.66	DD	Dupont De Nemours	Pair Corr
0.66	IBM	International Business Earnings Call This Week	Pair Corr
0.78	WMT	Walmart	Pair Corr
0.62	XOM	Exxon Mobil Corp	Pair Corr
0.73	BAC	Bank of America	Pair Corr

Moving against Deutsche Mutual Fund

0.76	BA	Boeing	Pair Corr
0.68	DIS	Walt Disney	Pair Corr

Related Correlations Analysis

	GMLVX	CMIFX	LGPIX	LTFOX	LMISX	AMFFX
GMLVX		0.83	0.96	0.93	0.94	0.96	GMLVX
CMIFX	0.83		0.84	0.88	0.87	0.8	CMIFX
LGPIX	0.96	0.84		0.95	0.97	0.95	LGPIX
LTFOX	0.93	0.88	0.95		0.98	0.95	LTFOX
LMISX	0.94	0.87	0.97	0.98		0.95	LMISX
AMFFX	0.96	0.8	0.95	0.95	0.95		AMFFX
	GMLVX	CMIFX	LGPIX	LTFOX	LMISX	AMFFX

Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GMLVX	0.61	0.06	0.06	0.14	0.67	(0.72)	1.29	(0.78)	4.77
CMIFX	0.07	0.01	(0.39)	1.14	0.00	(0.12)	0.10	(0.10)	0.52
LGPIX	0.63	0.05	0.04	0.11	0.80	(0.65)	1.18	(1.18)	5.00
LTFOX	0.40	0.03	0.03	0.10	0.46	(0.44)	0.98	(0.53)	3.15
LMISX	0.47	0.05	0.07	0.12	0.50	(0.53)	1.16	(0.59)	4.40
AMFFX	0.37	0.01	(0.01)	0.07	0.44	(0.42)	0.97	(0.73)	3.25

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