Usaa Tax Correlations

UITIX Fund

USD 12.33 0.01 0.08%

The current 90-days correlation between Usaa Tax Exempt and Federated Mdt Mid Cap is 0.56 (i.e., Very weak diversification). The correlation of Usaa 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Usaa Tax Correlation With Market

Poor diversification

The correlation between Usaa Tax Exempt and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Usaa Tax Exempt and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Usaa Tax Exempt. 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 Usaa Mutual Fund

0.63	UINCX	Income Fund Income	Pair Corr
0.93	GUTEX	Victory Tax Exempt	Pair Corr
0.72	SSGSX	Victory Sycamore Small	Pair Corr
0.62	MMECX	Victory Integrity	Pair Corr
0.62	MMEAX	Victory Integrity	Pair Corr
0.76	RPPRX	Victory Rs Partners	Pair Corr
0.74	MMIJX	Victory Integrity Mid	Pair Corr
0.68	MMMMX	Victory Integrity	Pair Corr
0.74	MMMSX	Victory Integrity	Pair Corr
0.82	ULTIX	Usaa Tax Exempt	Pair Corr
0.61	MNNAX	Victory Munder Multi	Pair Corr
0.66	RSEGX	Victory Rs Small	Pair Corr
0.65	RSDGX	Victory Rs Select	Pair Corr
0.7	RSGGX	Victory Rs Global	Pair Corr
0.65	RSGFX	Victory Rs Select	Pair Corr
0.61	RSFCX	Victory Floating Rate	Pair Corr
0.61	RSIFX	Victory Rs Science	Pair Corr
0.8	RSINX	Victory Rs Investors	Pair Corr
0.8	RSIYX	Victory Rs Investors	Pair Corr
0.77	RSPMX	Victory Rs Partners	Pair Corr

Moving against Usaa Mutual Fund

0.45	IPFIX	Victory Incore	Pair Corr
0.33	RSDYX	Victory Incore Low	Pair Corr
0.65	UPMMX	Precious Metals And	Pair Corr

Related Correlations Analysis

	FGSCX	FCPVX	SMVTX	MXLSX	PMVEX	DGSCX	HSZYX	PRDMX
FGSCX		0.88	0.89	0.83	0.86	0.84	0.9	1.0	FGSCX
FCPVX	0.88		0.97	0.98	0.92	0.75	0.96	0.89	FCPVX
SMVTX	0.89	0.97		0.98	0.93	0.8	0.97	0.89	SMVTX
MXLSX	0.83	0.98	0.98		0.91	0.74	0.96	0.83	MXLSX
PMVEX	0.86	0.92	0.93	0.91		0.76	0.92	0.86	PMVEX
DGSCX	0.84	0.75	0.8	0.74	0.76		0.81	0.82	DGSCX
HSZYX	0.9	0.96	0.97	0.96	0.92	0.81		0.9	HSZYX
PRDMX	1.0	0.89	0.89	0.83	0.86	0.82	0.9		PRDMX
	FGSCX	FCPVX	SMVTX	MXLSX	PMVEX	DGSCX	HSZYX	PRDMX

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Risk-Adjusted Indicators

There is a big difference between Usaa Mutual Fund performing well and Usaa Tax 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 Usaa 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
FGSCX	1.73	0.09	0.03	0.01	2.54	(1.62)	3.24	(3.94)	15.05
FCPVX	1.31	0.01	0.00	(0.04)	0.00	0.00	2.65	(2.50)	12.36
SMVTX	1.40	(0.01)	0.00	(0.06)	0.00	0.00	2.48	(2.50)	13.31
MXLSX	1.32	(0.02)	0.00	(0.07)	0.00	0.00	2.31	(2.44)	12.88
PMVEX	1.25	0.02	0.00	(0.04)	0.00	0.00	2.22	(2.30)	11.75
DGSCX	0.92	0.10	0.08	0.08	1.30	(0.94)	1.82	(2.02)	7.81
HSZYX	0.96	(0.01)	0.00	(0.07)	0.00	0.00	1.56	(1.82)	7.82
PRDMX	1.75	0.07	0.02	0.00	2.62	(1.56)	3.06	(3.77)	14.45

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