Tax Exempt Correlations

Mutual Funds . USA . 
Fund . Tax Exempt High Yield
RTHCX Fund  USD 9.69  0.01  0.10%   
The current 90-days correlation between Tax Exempt High and International Developed Markets is 0.16 (i.e., Average 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

Modest diversification

The correlation between Tax Exempt High Yield and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tax Exempt High Yield and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Tax Exempt High Yield. 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 private.

Moving together with Tax Mutual Fund

  0.74RNTTX International DevelopedPairCorr
  0.67RREAX Global Real EstatePairCorr
  0.66RRSCX Global Real EstatePairCorr
  0.69RRSRX Global Real EstatePairCorr
  0.91RALAX Growth StrategyPairCorr
  0.85RALCX Growth StrategyPairCorr
  0.92RALSX Growth StrategyPairCorr
  0.85RALRX Growth StrategyPairCorr
  0.92RALVX Growth StrategyPairCorr
  0.94RSBRX Strategic BondPairCorr
  0.93RSBTX Short Duration BondPairCorr
  0.93RSBYX Short Duration BondPairCorr
  0.76RSCRX Us Small CapPairCorr
  0.92RSBCX Short Duration BondPairCorr
  0.88RSECX Us Strategic EquityPairCorr
  0.88RSEAX Us Strategic EquityPairCorr
  0.88RSESX Us Strategic EquityPairCorr
  0.92RSDTX Short Duration BondPairCorr
  0.93RAZAX Multi Asset GrowthPairCorr
  0.94RAZCX Multi Asset GrowthPairCorr
  0.72RSQAX Us E EquityPairCorr
  0.99RBCUX Tax Exempt BondPairCorr
  0.92RSYTX Strategic BondPairCorr
  0.93RBLCX Balanced StrategyPairCorr
  0.93RBLAX Balanced StrategyPairCorr
  0.93RBLSX Balanced StrategyPairCorr
  0.93RBLVX Balanced StrategyPairCorr
  0.93RBLRX Balanced StrategyPairCorr
  0.9RTDAX Multifactor EquityPairCorr
  0.9RTDCX Multifactor EquityPairCorr
  0.9RTDYX Select EquityPairCorr
  0.9RTDSX Select EquityPairCorr
  0.91RTDRX Select EquityPairCorr
  0.91RTDTX Select EquityPairCorr
  0.99RTEAX Tax Exempt BondPairCorr
  0.99RTECX Tax Exempt BondPairCorr
  0.99RTHAX Tax Exempt HighPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
RNTTX  0.56  0.03  0.02  0.09  0.63 
(0.59)
 1.11 
(1.01)
 4.16 
RREAX  0.55  0.06  0.00 (0.43) 0.62 
(0.60)
 1.19 
(1.14)
 3.11 
RREYX  0.56  0.02 (0.01) 0.08  0.62 
(0.59)
 1.22 
(1.10)
 3.12 
RRESX  0.56  0.01 (0.01) 0.07  0.63 
(0.58)
 1.22 
(1.13)
 3.15 
RRSCX  0.55  0.04 (0.01) 1.82  0.62 
(0.58)
 1.19 
(1.10)
 3.14 
RRSRX  0.54  0.04 (0.01) 2.20  0.60 
(0.58)
 1.22 
(1.13)
 3.13 
RALAX  0.38  0.09  0.07 (1.93) 0.38 
(0.42)
 0.97 
(0.57)
 3.34 
RALCX  0.38  0.04  0.04  0.10  0.39 
(0.41)
 0.89 
(0.54)
 3.31 
RALSX  0.37  0.09  0.06 (0.49) 0.37 
(0.43)
 0.94 
(0.55)
 3.31 
RALRX  0.38  0.04  0.05  0.11  0.37 
(0.42)
 0.95 
(0.49)
 3.24 

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