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Asset Comparison and Correlation

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Investment horizon: 
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 Oppenheimer Limited Term NY Mu  vs   First Investors Tax Exempt NY
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Daily Returns (%)
LTBBX   FNYGX   
 
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Timeline
Assuming 30 trading days horizon, Oppenheimer Limited Term NY Municipal B is not expected to generate positive returns. However, Oppenheimer Limited Term NY Municipal B is 1.22 times less risky than First. It waists most of its returns potential to compensate for thr risk taken. First is generating about -0.27 per unit of risk. If you would invest  338.00  in Oppenheimer Limited Term NY Municipal B on April 24, 2013 and sell it today you would earn a total of  0.00 from holding Oppenheimer Limited Term NY Municipal B or generate 0.0% return on investment over 30 days.

Diversification

Very weak diversification
Overlapping area represents amount of risk that can be diversified away by holding Oppenheimer Limited Term NY Mu and First Investors Tax Exempt NY in the same portfolio assuming nothing else is changed

Correlation Coefficient

0.49
Parameters
Time Period1 Month [change]
DirectionPositive FNYGX Moved Up vs LTBBX
StrengthWeak
Accuracy100.0%
ValuesDaily Returns
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Returns   
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Oppenheimer Limited Term NY Municipal B

Alpha
 
Profile
    
Oppenheimer
Performance
0
Out Of
100
Over 30
Days
?
Over the last 30 days Oppenheimer Limited Term NY Municipal B has generated negative risk-adjusted returns adding no value to investors with long positions.
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Match-ups for Oppenheimer

Oppenheimer Limited Term NY Municipal C vs. Oppenheimer Limited Term NY Municipal B
Oppenheimer Limited Term NY Municipal Y vs. Oppenheimer Limited Term NY Municipal B
Oppenheimer Limited Term NY Municipal A vs. Oppenheimer Limited Term NY Municipal B
AllianceBern Interm NY Muni A vs. Oppenheimer Limited Term NY Municipal B
AllianceBern Interm NY Muni C vs. Oppenheimer Limited Term NY Municipal B
AllianceBern Interm NY Muni B vs. Oppenheimer Limited Term NY Municipal B
Bernstein NY Municipal vs. Oppenheimer Limited Term NY Municipal B
AllianceBern Interm CA Muni A vs. Oppenheimer Limited Term NY Municipal B
Bernstein CA Municipal vs. Oppenheimer Limited Term NY Municipal B
  

First Investors Tax Exempt NY B

Alpha
 
Profile
    
First
Performance
0
Out Of
100
Over 30
Days
?
Over the last 30 days First Investors Tax Exempt NY B has generated negative risk-adjusted returns adding no value to investors with long positions.
Check Performance
Backtest
Predict Price
    

Match-ups for First

Franklin NY IntermTerm T-F Income Adv vs. First Investors Tax Exempt NY B
Franklin NY Intermediate T-F Income A vs. First Investors Tax Exempt NY B
Franklin NY Intermediate T-F Income C vs. First Investors Tax Exempt NY B
JPMorgan NY Tax Free Bond A vs. First Investors Tax Exempt NY B
JPMorgan NY Tax Free Bond C vs. First Investors Tax Exempt NY B
JPMorgan NY Tax Free Bond B vs. First Investors Tax Exempt NY B
JPMorgan NY Tax Free Bd Instl vs. First Investors Tax Exempt NY B
JPMorgan NY Tax Free Bd Sel vs. First Investors Tax Exempt NY B
Dreyfus NY AMTFree Muni Bond I vs. First Investors Tax Exempt NY B
Dreyfus NY AMTFree Muni Bond C vs. First Investors Tax Exempt NY B


 
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