Aquila Three Correlations

Mutual Funds . USA . 
Fund . Aquila Three Peaks
ATPYX Fund  USD 8.20  0.01  0.12%   
The current 90-days correlation between Aquila Three Peaks and Aquila Three Peaks is 0.03 (i.e., Significant 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

Average diversification

The correlation between Aquila Three Peaks and DJI is 0.1 (i.e., Average 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

  0.89ATPAX Aquila Three PeaksPairCorr
  0.7UTAYX Aquila Tax FreePairCorr
  0.67UTACX Aquila Tax FreePairCorr
  0.7UTAHX Aquila Tax FreePairCorr
  0.65COTCX Aquila Tax FreePairCorr
  0.61COTYX Aquila Tax FreePairCorr
  0.65COTFX Aquila Tax FreePairCorr
  0.61AZTYX Aquila Tax FreePairCorr
  0.63AZTFX Aquila Tax FreePairCorr
  0.62AZTCX Aquila Tax FreePairCorr
  0.62HULAX Hawaiian Tax FreePairCorr
  0.62HULCX Hawaiian Tax FreePairCorr
  0.61HULFX Hawaiian Tax FreePairCorr
  0.62HULYX Hawaiian Tax FreePairCorr
  0.65ORTYX Aquila Tax FreePairCorr
  0.66ORTFX Aquila Tax FreePairCorr
  0.65ORTCX Aquila Tax FreePairCorr
  0.67VWEHX Vanguard High YieldPairCorr
  0.79BHYCX Blackrock Hi YldPairCorr
  0.68BHYIX Blackrock High YieldPairCorr
  0.7BHYSX Blackrock Hi YldPairCorr
  0.7BHYAX Blackrock High YieldPairCorr
  0.65NXJ Nuveen New JerseyPairCorr
  0.66PCF Putnam High IncomePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
ATGAX  1.19 (0.30) 0.00 (0.60) 0.00 
 0.00 
 1.58 
(1.60)
 24.87 
ATGYX  1.13 (0.25) 0.00 (0.55) 0.00 
 0.00 
 1.60 
(1.59)
 21.96 
ATPAX  0.09  0.00 (0.42)(0.75) 0.07 
(0.19)
 0.24 
(0.24)
 0.86 
ATPYX  0.10 (0.01)(0.44)(0.22) 0.10 
(0.19)
 0.24 
(0.24)
 0.99 
UTAYX  0.16  0.00 (0.26) 0.29  0.23 
(0.20)
 0.31 
(0.42)
 1.25 
UTACX  0.15  0.00 (0.25) 0.07  0.18 
(0.21)
 0.32 
(0.31)
 1.36 
UTAHX  0.15  0.00 (0.25) 0.00  0.18 
(0.22)
 0.32 
(0.31)
 1.36 
COTCX  0.14  0.00 (0.28) 0.26  0.17 
(0.18)
 0.31 
(0.31)
 1.14 
COTYX  0.15  0.00 (0.25) 0.25  0.19 
(0.19)
 0.31 
(0.31)
 1.24 
COTFX  0.14  0.00 (0.24) 0.44  0.17 
(0.18)
 0.31 
(0.31)
 1.24 

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