Delaware Tax-free Correlations

Mutual Funds . USA . 
Fund . Delaware Tax Free Usa
DMUSX Fund  USD 10.66  0.01  0.09%   
The current 90-days correlation between Delaware Tax Free and Rbb Fund is 0.06 (i.e., Significant diversification). The correlation of Delaware Tax-free 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.

Delaware Tax-free Correlation With Market

Good diversification

The correlation between Delaware Tax Free Usa and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Delaware Tax Free Usa and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Delaware Tax Free Usa. 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 state.

Moving together with Delaware Mutual Fund

  0.68OASVX Optimum Small MidPairCorr
  0.81IMAAX Ivy Apollo MultiPairCorr
  0.68OCLVX Optimum Large CapPairCorr
  0.62OCSGX Optimum Small MidPairCorr
  0.68OCSVX Optimum Small MidPairCorr
  1.0CXHYX Delaware National HighPairCorr
  0.66WCEAX Ivy E EquityPairCorr
  0.99FTNYX Delaware Tax FreePairCorr
  1.0FTORX First Investors TaxPairCorr
  1.0FTOTX First Investors TaxPairCorr
  0.78DLHIX Delaware HealthcarePairCorr
  0.78DLHCX Delaware HealthcarePairCorr
  0.84DLHAX Delaware HealthcarePairCorr
  0.84DLRHX Delaware HealthcarePairCorr
  0.64IPOAX Ivy Emerging MarketsPairCorr
  0.93DMHIX Delaware Minnesota HighPairCorr
  0.92DMOCX Delaware Tax FreePairCorr
  1.0DMNIX Delaware Tax FreePairCorr
  0.93DMTFX Delaware Tax FreePairCorr
  1.0VAZIX Delaware Tax FreePairCorr
  0.7IRSAX Ivy Advantus RealPairCorr
  0.62OILGX Optimum Large CapPairCorr
  0.75OILVX Optimum Large CapPairCorr
  0.92VCTFX Delaware Tax FreePairCorr

Moving against Delaware Mutual Fund

  0.4DLTZX Delaware Limited TermPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
GUGAX
+ 0.86
BWDTX
LTIFX
+ 0.85
CABIX
SWSFX
+ 0.8
OPTCX
GUGAX
+ 0.78
SWSFX
CABIX
+ 0.58
BBHLX
BWDTX
+ 0.55
SWSFX
  
High negative correlations   
LTIFX
- 0.76
OPTCX
LTIFX
- 0.62
SWSFX
CABIX
- 0.6
OPTCX
CABIX
- 0.56
SWSFX
GUGAX
- 0.3
LTIFX
GUGAX
- 0.17
CABIX

Risk-Adjusted Indicators

There is a big difference between Delaware Mutual Fund performing well and Delaware Tax-free 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 Delaware Tax-free'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.

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