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Asset Comparison and Correlation

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Investment horizon: 
  30 Days    Login   to change
Run Correlation
 
 Franklin MI TaxFree Inc C  vs   T. Rowe Price MD TaxFree Bond
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Daily Returns (%)
MDXBX   FRMTX   
 
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Timeline
Assuming 30 trading days horizon, Franklin MI TaxFree Inc C is expected to generate 1.25 times more return on investment than T Rowe. However, Franklin is 1.25 times more volatile than T Rowe Price MD TaxFree Bond. It trades about -0.1 of its potential returns per unit of risk. T Rowe Price MD TaxFree Bond is currently generating about -0.25 per unit of risk. If you would invest  1,249  in Franklin MI TaxFree Inc C on April 23, 2013 and sell it today you would lose (3.00) from holding Franklin MI TaxFree Inc C or give up 0.24% of portfolio value over 30 days.

Diversification

Very poor diversification
Overlapping area represents amount of risk that can be diversified away by holding Franklin MI TaxFree Inc C and T. Rowe Price MD TaxFree Bond in the same portfolio assuming nothing else is changed

Correlation Coefficient

0.84
Parameters
Time Period1 Month [change]
DirectionPositive MDXBX Moved Up vs FRMTX
StrengthStrong
Accuracy100.0%
ValuesDaily Returns
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Returns   
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Franklin MI TaxFree Inc C

Alpha
 
Profile
    
Franklin
Performance
0
Out Of
100
Over 30
Days
?
Over the last 30 days Franklin MI TaxFree Inc C has generated negative risk-adjusted returns adding no value to investors with long positions.
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Backtest
Predict Price
    

Match ups for Franklin

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

T Rowe Price MD TaxFree Bond

Alpha
 
Profile
    
T Rowe
Performance
0
Out Of
100
Over 30
Days
?
Over the last 30 days T Rowe Price MD TaxFree Bond has generated negative risk-adjusted returns adding no value to investors with long positions.
Check Performance
Backtest
Predict Price
    

Match ups for T Rowe

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


 
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