Tax-managed Correlations

Mutual Funds . USA . 
Fund . Tax Managed Mid Small
RTSCX Fund  USD 31.95  0.97  2.95%   
The current 90-days correlation between Tax Managed Mid and International Developed Markets is 0.74 (i.e., Poor diversification). The correlation of Tax-managed 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-managed Correlation With Market

Very poor diversification

The correlation between Tax Managed Mid Small and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tax Managed Mid Small 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 Managed Mid Small. 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 population.

Moving together with Tax-managed Mutual Fund

  0.86RNTTX International DevelopedPairCorr
  0.86RREAX Global Real EstatePairCorr
  0.86RREYX Global Real EstatePairCorr
  0.86RRESX Global Real EstatePairCorr
  0.85RRSCX Global Real EstatePairCorr
  0.86RRSRX Global Real EstatePairCorr
  0.9RALAX Growth StrategyPairCorr
  0.9RALCX Growth StrategyPairCorr
  0.9RALSX Growth StrategyPairCorr
  0.9RALRX Growth StrategyPairCorr
  0.9RALVX Growth StrategyPairCorr
  0.81RSBRX Strategic BondPairCorr
  0.84RSBTX Short Duration BondPairCorr
  0.84RSBYX Short Duration BondPairCorr
  0.99RSCRX Us Small CapPairCorr
  0.84RSBCX Short Duration BondPairCorr
  0.89RSECX Us Strategic EquityPairCorr
  0.89RSEAX Us Strategic EquityPairCorr
  0.89RSESX Us Strategic EquityPairCorr
  0.84RSDTX Short Duration BondPairCorr
  0.87RAZAX Multi Asset GrowthPairCorr
  0.87RAZCX Multi Asset GrowthPairCorr
  0.97RSQAX Us E EquityPairCorr
  0.77RBCUX Tax Exempt BondPairCorr
  0.81RSYTX Strategic BondPairCorr
  0.9RBLCX Balanced StrategyPairCorr
  0.9RBLAX Balanced StrategyPairCorr
  0.9RBLSX Balanced StrategyPairCorr
  0.9RBLVX Balanced StrategyPairCorr
  0.9RBLRX Balanced StrategyPairCorr
  0.89RTDAX Multifactor EquityPairCorr
  0.89RTDCX Multifactor EquityPairCorr
  0.89RTDYX Select EquityPairCorr
  0.89RTDSX Select EquityPairCorr
  0.89RTDRX Select EquityPairCorr
  0.89RTDTX Select EquityPairCorr
  0.76RTEAX Tax Exempt BondPairCorr
  0.76RTECX Tax Exempt BondPairCorr
  0.72RTHAX Tax Exempt HighPairCorr
  0.71RTHCX Tax Exempt HighPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Tax-managed Mutual Fund performing well and Tax-managed 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-managed'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  0.01  0.00  0.03  0.69 
(0.58)
 1.11 
(1.01)
 3.65 
RREAX  0.55 (0.02) 0.00 (0.02) 0.00 
 0.00 
 1.19 
(1.15)
 3.09 
RREYX  0.55 (0.02) 0.00 (0.02) 0.00 
 0.00 
 1.21 
(1.17)
 3.13 
RRESX  0.55 (0.02) 0.00 (0.02) 0.00 
 0.00 
 1.21 
(1.14)
 3.14 
RRSCX  0.55 (0.02) 0.00 (0.02) 0.00 
 0.00 
 1.19 
(1.14)
 3.13 
RRSRX  0.55 (0.02) 0.00 (0.02) 0.00 
 0.00 
 1.24 
(1.14)
 3.11 
RALAX  0.39  0.02  0.03  0.05  0.48 
(0.41)
 0.90 
(0.60)
 2.06 
RALCX  0.38  0.02  0.02  0.04  0.48 
(0.40)
 0.89 
(0.63)
 2.00 
RALSX  0.38  0.02  0.03  0.05  0.46 
(0.41)
 0.87 
(0.57)
 1.93 
RALRX  0.38  0.02  0.03  0.05  0.46 
(0.40)
 0.93 
(0.62)
 1.99 

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