DTF Tax Correlations

DTF Stock

USD 11.00 0.04 0.36%

The current 90-days correlation between DTF Tax Free and MFS Investment Grade is 0.55 (i.e., Very weak diversification). The correlation of DTF Tax 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.

DTF Tax Correlation With Market

Good diversification

The correlation between DTF Tax Free and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DTF Tax Free 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 DTF Tax Free. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with DTF Stock

0.61	VINP	Vinci Partners Inves	Pair Corr
0.61	VRTS	Virtus Investment	Pair Corr

Moving against DTF Stock

0.32	XP	Xp Inc	Pair Corr
0.47	EMCGU	Embrace Change Acqui	Pair Corr
0.32	PWUPW	PowerUp Acquisition Corp	Pair Corr

Related Correlations Analysis

	CXH	CBH	EOT	IHTA	CMU	MFM	MGF	MHN	NXC	FMN
CXH		0.07	0.43	0.13	0.86	0.77	0.24	0.66	0.03	0.31	CXH
CBH	0.07		-0.69	0.93	-0.2	-0.43	-0.75	-0.54	-0.93	-0.84	CBH
EOT	0.43	-0.69		-0.67	0.56	0.75	0.73	0.74	0.7	0.71	EOT
IHTA	0.13	0.93	-0.67		-0.1	-0.33	-0.72	-0.43	-0.86	-0.73	IHTA
CMU	0.86	-0.2	0.56	-0.1		0.85	0.5	0.82	0.3	0.57	CMU
MFM	0.77	-0.43	0.75	-0.33	0.85		0.56	0.91	0.53	0.69	MFM
MGF	0.24	-0.75	0.73	-0.72	0.5	0.56		0.66	0.76	0.87	MGF
MHN	0.66	-0.54	0.74	-0.43	0.82	0.91	0.66		0.66	0.8	MHN
NXC	0.03	-0.93	0.7	-0.86	0.3	0.53	0.76	0.66		0.86	NXC
FMN	0.31	-0.84	0.71	-0.73	0.57	0.69	0.87	0.8	0.86		FMN
	CXH	CBH	EOT	IHTA	CMU	MFM	MGF	MHN	NXC	FMN

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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

IHTA	+ 0.93	CBH
MHN	+ 0.91	MFM
FMN	+ 0.87	MGF
CMU	+ 0.86	CXH
FMN	+ 0.86	NXC
MFM	+ 0.85	CMU

High negative correlations

NXC	- 0.93	CBH
NXC	- 0.86	IHTA
FMN	- 0.84	CBH
MGF	- 0.75	CBH
FMN	- 0.73	IHTA
MGF	- 0.72	IHTA

Risk-Adjusted Indicators

There is a big difference between DTF Stock performing well and DTF Tax Company 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 DTF Tax'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
CXH	0.40	(0.05)	0.00	(0.80)	0.00	0.00	0.62	(1.00)	3.29
CBH	0.13	0.04	0.07	(8.41)	0.00	(0.18)	0.22	(0.22)	0.78
EOT	0.40	(0.10)	0.00	(11.01)	0.00	0.00	0.81	(0.97)	2.86
IHTA	0.23	0.04	0.04	0.71	0.25	(0.31)	0.68	(0.27)	2.03
CMU	0.42	(0.06)	0.00	(0.29)	0.00	0.00	0.85	(0.85)	2.82
MFM	0.49	(0.10)	0.00	(0.55)	0.00	0.00	0.90	(1.10)	2.72
MGF	0.49	(0.05)	0.00	(0.34)	0.00	0.00	1.25	(1.26)	3.50
MHN	0.46	(0.10)	0.00	(1.18)	0.00	0.00	0.93	(1.22)	2.44
NXC	0.47	(0.09)	0.00	(11.83)	0.00	0.00	0.81	(1.05)	4.03
FMN	0.52	(0.19)	0.00	(3.20)	0.00	0.00	0.98	(1.49)	2.67

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