Tax-exempt High Correlations

RTHSX Fund

USD 9.43 0.01 0.11%

The current 90-days correlation between Tax Exempt High and Bbh Intermediate Municipal is 0.5 (i.e., Very weak diversification). The correlation of Tax-exempt High 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 High Correlation With Market

Significant diversification

The correlation between Tax Exempt High Yield and DJI is 0.06 (i.e., Significant 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 main economic indicators.

Moving together with Tax-exempt Mutual Fund

0.99	RTHAX	Tax Exempt High	Pair Corr
0.99	RTHCX	Tax Exempt High	Pair Corr

Moving against Tax-exempt Mutual Fund

0.4	RSECX	Us Strategic Equity	Pair Corr
0.4	RSEAX	Us Strategic Equity	Pair Corr
0.4	RSESX	Us Strategic Equity	Pair Corr
0.35	RALAX	Growth Strategy	Pair Corr
0.35	RALCX	Growth Strategy	Pair Corr
0.35	RALSX	Growth Strategy	Pair Corr
0.35	RALRX	Growth Strategy	Pair Corr
0.35	RALVX	Growth Strategy	Pair Corr
0.33	RSQAX	Us E Equity	Pair Corr
0.32	RAZAX	Multi Asset Growth	Pair Corr
0.32	RBLCX	Balanced Strategy	Pair Corr
0.31	RAZCX	Multi Asset Growth	Pair Corr
0.39	RTDSX	Select Equity	Pair Corr
0.39	RTDRX	Select Equity	Pair Corr
0.39	RTLCX	Tax Managed Large	Pair Corr
0.39	RTLAX	Tax Managed Large	Pair Corr
0.39	RTMTX	Tax Managed Large	Pair Corr
0.38	RTDAX	Multifactor Equity	Pair Corr
0.38	RTDCX	Multifactor Equity	Pair Corr
0.38	RTDYX	Select Equity	Pair Corr
0.38	RTDTX	Select Equity	Pair Corr
0.35	RTIUX	Tax-managed International	Pair Corr
0.35	RTNSX	Tax-managed International	Pair Corr
0.35	RTNAX	Tax-managed International	Pair Corr
0.34	RTNCX	Tax-managed International	Pair Corr
0.33	RBLSX	Balanced Strategy	Pair Corr

Related Correlations Analysis

	BBINX	COMSX	FCSCX	OWMBX	MBSAX	BXHCX	ABNTX
BBINX		0.86	0.96	0.98	0.93	0.91	0.88	BBINX
COMSX	0.86		0.86	0.91	0.95	0.97	0.93	COMSX
FCSCX	0.96	0.86		0.94	0.93	0.91	0.9	FCSCX
OWMBX	0.98	0.91	0.94		0.96	0.93	0.93	OWMBX
MBSAX	0.93	0.95	0.93	0.96		0.97	0.96	MBSAX
BXHCX	0.91	0.97	0.91	0.93	0.97		0.93	BXHCX
ABNTX	0.88	0.93	0.9	0.93	0.96	0.93		ABNTX
	BBINX	COMSX	FCSCX	OWMBX	MBSAX	BXHCX	ABNTX

Risk-Adjusted Indicators

There is a big difference between Tax-exempt Mutual Fund performing well and Tax-exempt High 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 High'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
BBINX	0.09	0.02	(0.79)	(1.40)	0.00	(0.15)	0.29	(0.10)	0.59
COMSX	0.67	0.09	0.06	0.23	0.73	(0.72)	1.64	(1.26)	4.27
FCSCX	0.06	0.01	(0.70)	1.06	0.00	(0.21)	0.27	(0.13)	0.54
OWMBX	0.06	0.02	(0.75)	(3.27)	0.00	(0.11)	0.17	(0.09)	0.44
MBSAX	0.20	0.04	(0.20)	0.34	0.00	(0.24)	0.44	(0.29)	1.02
BXHCX	0.12	0.03	(0.44)	0.46	0.00	(0.24)	0.50	(0.12)	0.99
ABNTX	0.13	0.03	(0.45)	1.89	0.00	(0.18)	0.29	(0.19)	0.59

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