Asset Comparison and Correlation

Assuming 30 trading days horizon, Franklin MI TaxFree Inc A is expected to generate about the same return on investment as Eaton Vance AZ Municipal Income A.However, Franklin is 1.38 times more volatile than Eaton Vance AZ Municipal Income A. It trades about -0.09 of its potential returns per unit of risk. Eaton Vance AZ Municipal Income A is currently producing about -0.12 per unit of risk. If you would invest  997  in Eaton Vance AZ Municipal Income A on April 23, 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.