T Rowe Correlations

RRNIX Fund

USD 7.92 0.02 0.25%

The current 90-days correlation between T Rowe Price and Maryland Short Term Tax Free is -0.11 (i.e., Good diversification). The correlation of T Rowe 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.

Check out Your Equity Center to better understand how to build diversified portfolios. 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 gross domestic product.

Moving together with RRNIX Mutual Fund

0.72	VBTLX	Vanguard Total Bond	Pair Corr
0.74	VBMFX	Vanguard Total Bond	Pair Corr
0.74	VBTIX	Vanguard Total Bond	Pair Corr
0.77	VTBSX	Vanguard Total Bond	Pair Corr
0.76	VTBIX	Vanguard Total Bond	Pair Corr
0.76	VTBNX	Vanguard Total Bond	Pair Corr
0.77	FBOFX	American Funds	Pair Corr
0.73	FFBOX	American Funds	Pair Corr
0.73	BFAFX	Bond Fund	Pair Corr
0.77	ABNDX	Bond Fund	Pair Corr
0.72	MRK	Merck Company Earnings Call This Week	Pair Corr

Moving against RRNIX Mutual Fund

0.74	TRV	The Travelers Companies	Pair Corr
0.48	HPQ	HP Inc	Pair Corr
0.45	MCD	McDonalds	Pair Corr
0.35	VZ	Verizon Communications Aggressive Push	Pair Corr

Related Correlations Analysis

	PRMDX	CWFIX	LCCMX	CMGUX	BPIRX	ATOAX	HYSZX
PRMDX		0.87	0.96	0.97	0.78	0.95	0.88	PRMDX
CWFIX	0.87		0.86	0.85	0.95	0.86	0.99	CWFIX
LCCMX	0.96	0.86		0.95	0.81	0.96	0.87	LCCMX
CMGUX	0.97	0.85	0.95		0.77	0.98	0.87	CMGUX
BPIRX	0.78	0.95	0.81	0.77		0.79	0.95	BPIRX
ATOAX	0.95	0.86	0.96	0.98	0.79		0.87	ATOAX
HYSZX	0.88	0.99	0.87	0.87	0.95	0.87		HYSZX
	PRMDX	CWFIX	LCCMX	CMGUX	BPIRX	ATOAX	HYSZX

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Risk-Adjusted Indicators

There is a big difference between RRNIX Mutual Fund performing well and T Rowe 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 T Rowe'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
PRMDX	0.06	0.01	0.00	1.76	0.00	0.00	0.20	0.00	0.39
CWFIX	0.07	0.02	(1.86)	2.50	0.00	(0.13)	0.21	(0.11)	0.42
LCCMX	0.12	0.06	(1.26)	5.47	0.00	(0.26)	0.51	(0.12)	1.00
CMGUX	0.05	0.00	0.00	0.28	0.00	0.00	0.11	0.00	0.55
BPIRX	0.32	0.13	(0.29)	(0.79)	0.15	(0.38)	0.71	(0.49)	2.24
ATOAX	0.02	0.00	0.00	0.17	0.00	0.00	0.00	0.00	0.30
HYSZX	0.11	0.04	(1.16)	2.76	0.00	(0.19)	0.24	(0.12)	0.84

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T Rowe Correlations

Moving together with RRNIX Mutual Fund

Moving against RRNIX Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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