Asset Comparison and Correlation

Assuming 30 trading days horizon, Franklin NC TaxFree Income Adv is expected to generate about the same return on investment as T Rowe Price MD TaxFree Bond.However, Franklin is 1.38 times more volatile than T Rowe Price MD TaxFree Bond. It trades about -0.09 of its potential returns per unit of risk. T Rowe Price MD TaxFree Bond is currently producing about -0.12 per unit of risk. If you would invest  1,110  in T Rowe Price MD TaxFree Bond on April 22, 2013 and sell it today you would lose (3.00) from holding T Rowe Price MD TaxFree Bond or give up 0.27% of portfolio value over 30 days.