Aquila Three Correlations

ATPYX Fund

USD 8.23 0.01 0.12%

The current 90-days correlation between Aquila Three Peaks and Aquila Three Peaks is -0.12 (i.e., Good diversification). The correlation of Aquila Three is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Aquila Three Correlation With Market

Good diversification

The correlation between Aquila Three Peaks and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aquila Three Peaks and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Aquila Three Peaks. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Aquila Mutual Fund

0.9	ATIPX	Aquila Three Peaks	Pair Corr
0.96	ATPCX	Aquila Three Peaks	Pair Corr
0.99	ATPAX	Aquila Three Peaks	Pair Corr
0.73	UTAYX	Aquila Tax Free	Pair Corr
0.69	UTACX	Aquila Tax Free	Pair Corr
0.69	UTAHX	Aquila Tax Free	Pair Corr
0.71	COTCX	Aquila Tax Free	Pair Corr
0.76	COTYX	Aquila Tax Free	Pair Corr
0.72	COTFX	Aquila Tax Free	Pair Corr
0.77	AZTYX	Aquila Tax Free	Pair Corr
0.77	AZTFX	Aquila Tax Free	Pair Corr
0.78	AZTCX	Aquila Tax Free	Pair Corr
0.65	HULAX	Hawaiian Tax Free	Pair Corr
0.63	HULFX	Hawaiian Tax Free	Pair Corr
0.66	HULYX	Hawaiian Tax Free	Pair Corr
0.66	ORTYX	Aquila Tax Free	Pair Corr
0.66	ORTFX	Aquila Tax Free	Pair Corr
0.65	ORTCX	Aquila Tax Free	Pair Corr
0.85	VWEAX	Vanguard High Yield	Pair Corr
0.86	VWEHX	Vanguard High Yield	Pair Corr
0.73	BHYCX	Blackrock Hi Yld	Pair Corr
0.71	BHYIX	Blackrock High Yield	Pair Corr
0.7	BHYSX	Blackrock Hi Yld	Pair Corr
0.7	BHYAX	Blackrock High Yield	Pair Corr
0.64	FAHHX	American Funds American	Pair Corr
0.63	FTAHX	American Funds American	Pair Corr
0.67	AHTFX	American High Income	Pair Corr
0.69	AHTCX	American High Income	Pair Corr

Related Correlations Analysis

	ATGAX	ATGCX	ATGYX	ATIPX	ATPCX	ATPAX	ATPYX	ATRIX	UTAYX	UTACX
ATGAX		1.0	1.0	-0.04	-0.13	-0.06	0.05	0.95	-0.37	-0.48	ATGAX
ATGCX	1.0		1.0	-0.04	-0.13	-0.06	0.05	0.95	-0.37	-0.48	ATGCX
ATGYX	1.0	1.0		-0.04	-0.13	-0.06	0.05	0.95	-0.37	-0.48	ATGYX
ATIPX	-0.04	-0.04	-0.04		0.9	0.91	0.9	-0.05	0.78	0.67	ATIPX
ATPCX	-0.13	-0.13	-0.13	0.9		0.96	0.96	-0.11	0.79	0.76	ATPCX
ATPAX	-0.06	-0.06	-0.06	0.91	0.96		0.99	-0.05	0.77	0.74	ATPAX
ATPYX	0.05	0.05	0.05	0.9	0.96	0.99		0.06	0.73	0.69	ATPYX
ATRIX	0.95	0.95	0.95	-0.05	-0.11	-0.05	0.06		-0.41	-0.48	ATRIX
UTAYX	-0.37	-0.37	-0.37	0.78	0.79	0.77	0.73	-0.41		0.89	UTAYX
UTACX	-0.48	-0.48	-0.48	0.67	0.76	0.74	0.69	-0.48	0.89		UTACX
	ATGAX	ATGCX	ATGYX	ATIPX	ATPCX	ATPAX	ATPYX	ATRIX	UTAYX	UTACX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

ATGCX	+ 1.0	ATGAX
ATGYX	+ 1.0	ATGAX
ATGYX	+ 1.0	ATGCX
ATPYX	+ 0.99	ATPAX
ATPAX	+ 0.96	ATPCX
ATPYX	+ 0.96	ATPCX

High negative correlations

UTACX	- 0.48	ATRIX
UTACX	- 0.48	ATGYX
UTACX	- 0.48	ATGCX
UTACX	- 0.48	ATGAX
UTAYX	- 0.41	ATRIX
UTAYX	- 0.37	ATGYX

Risk-Adjusted Indicators

There is a big difference between Aquila Mutual Fund performing well and Aquila Three Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Aquila Three's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ATGAX	0.73	0.00	0.00	0.12	0.74	(0.83)	1.56	(1.37)	4.09
ATGCX	0.73	0.00	0.00	0.12	0.75	(0.83)	1.54	(1.36)	4.08
ATGYX	0.73	0.00	0.00	0.12	0.74	(0.83)	1.54	(1.37)	4.08
ATIPX	0.09	0.00	(0.65)	(0.03)	0.04	(0.16)	0.12	(0.24)	0.73
ATPCX	0.11	0.00	(0.72)	0.16	0.09	(0.17)	0.24	(0.24)	0.73
ATPAX	0.09	0.00	(0.60)	0.11	0.06	(0.18)	0.24	(0.24)	0.85
ATPYX	0.09	0.00	(0.67)	0.06	0.04	(0.16)	0.24	(0.24)	0.73
ATRIX	0.72	0.08	(0.04)	1.14	0.77	(0.82)	1.56	(1.38)	4.09
UTAYX	0.10	(0.01)	(0.40)	(0.16)	0.16	(0.19)	0.31	(0.21)	1.24
UTACX	0.11	0.01	(0.44)	0.05	0.15	(0.19)	0.31	(0.21)	1.14

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