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Asset Comparison and Correlation

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Investment horizon: 
  30 Days    Login   to change
Run Correlation
 
 Franklin NC TaxFree Income Adv  vs   Eaton Vance AZ Municipal Incom
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Daily Returns (%)
ETAZX   FNCZX   
 
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Timeline
Assuming 30 trading days horizon, Franklin NC TaxFree Income Adv is expected to under-perform the Eaton. In addition to that, Franklin is 1.33 times more volatile than Eaton Vance AZ Municipal Income A. It trades about -0.17 of its total potential returns per unit of risk. Eaton Vance AZ Municipal Income A is currently generating about -0.11 per unit of volatility. If you would invest  997  in Eaton Vance AZ Municipal Income A on April 25, 2013 and sell it today you would lose (1.00) from holding Eaton Vance AZ Municipal Income A or give up 0.1% of portfolio value over 30 days.

Diversification

Poor diversification
Overlapping area represents amount of risk that can be diversified away by holding Franklin NC TaxFree Income Adv and Eaton Vance AZ Municipal Incom in the same portfolio assuming nothing else is changed

Correlation Coefficient

0.6
Parameters
Time Period1 Month [change]
DirectionPositive ETAZX Moved Up vs FNCZX
StrengthSignificant
Accuracy80.95%
ValuesDaily Returns
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Returns   
ETAZX   FNCZX   

Franklin NC TaxFree Income Adv

Alpha
 
Profile
    
Franklin
Performance
0
Out Of
100
Over 30
Days
?
Over the last 30 days Franklin NC TaxFree Income Adv has generated negative risk-adjusted returns adding no value to investors with long positions.
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Backtest
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Match-ups for Franklin

T Rowe Price MD TaxFree Bond vs. Franklin NC TaxFree Income Adv
Franklin NC TaxFree Income A vs. Franklin NC TaxFree Income Adv
Franklin NC TaxFree Income C vs. Franklin NC TaxFree Income Adv
Franklin OR TaxFree Income A vs. Franklin NC TaxFree Income Adv
Franklin OR TaxFree Income C vs. Franklin NC TaxFree Income Adv
Franklin OR TaxFree Income Adv vs. Franklin NC TaxFree Income Adv
Franklin MI TaxFree Inc B vs. Franklin NC TaxFree Income Adv
Franklin MI TaxFree Inc C vs. Franklin NC TaxFree Income Adv
Franklin MI TaxFree Inc A vs. Franklin NC TaxFree Income Adv
  

Eaton Vance AZ Municipal Income A

Alpha
 
Profile
    
Eaton
Performance
0
Out Of
100
Over 30
Days
?
Over the last 30 days Eaton Vance AZ Municipal Income A has generated negative risk-adjusted returns adding no value to investors with long positions.
Check Performance
Backtest
Predict Price
    

Match-ups for Eaton

T Rowe Price MD TaxFree Bond vs. Eaton Vance AZ Municipal Income A
Franklin NC TaxFree Income A vs. Eaton Vance AZ Municipal Income A
Franklin NC TaxFree Income Adv vs. Eaton Vance AZ Municipal Income A
Franklin NC TaxFree Income C vs. Eaton Vance AZ Municipal Income A
Franklin OR TaxFree Income A vs. Eaton Vance AZ Municipal Income A
Franklin OR TaxFree Income C vs. Eaton Vance AZ Municipal Income A
Franklin OR TaxFree Income Adv vs. Eaton Vance AZ Municipal Income A
Franklin MI TaxFree Inc B vs. Eaton Vance AZ Municipal Income A
Franklin MI TaxFree Inc C vs. Eaton Vance AZ Municipal Income A
Franklin MI TaxFree Inc A vs. Eaton Vance AZ Municipal Income A


 
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