Aquila Tax Correlations

AZTYX Fund

USD 9.74 0.01 0.10%

The current 90-days correlation between Aquila Tax Free and Aquila Three Peaks is 0.07 (i.e., Significant diversification). The correlation of Aquila Tax 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 Tax Correlation With Market

Average diversification

The correlation between Aquila Tax Free Trust and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aquila Tax Free Trust 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 Tax Free Trust. 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

0.68	ATPAX	Aquila Three Peaks	Pair Corr
0.65	ATPYX	Aquila Three Peaks	Pair Corr
0.83	UTAYX	Aquila Tax Free	Pair Corr
0.97	UTACX	Aquila Tax Free	Pair Corr
0.93	UTAHX	Aquila Tax Free	Pair Corr
0.94	COTCX	Aquila Tax Free	Pair Corr
1.0	COTYX	Aquila Tax Free	Pair Corr
0.93	COTFX	Aquila Tax Free	Pair Corr
0.82	AZTFX	Aquila Tax Free	Pair Corr
0.83	AZTCX	Aquila Tax Free	Pair Corr
0.96	HULAX	Hawaiian Tax Free	Pair Corr
0.93	HULCX	Hawaiian Tax Free	Pair Corr
0.96	HULFX	Hawaiian Tax Free	Pair Corr
0.97	HULYX	Hawaiian Tax Free	Pair Corr
0.98	ORTYX	Aquila Tax Free	Pair Corr
0.99	ORTFX	Aquila Tax Free	Pair Corr
0.96	ORTCX	Aquila Tax Free	Pair Corr
0.86	HICOX	Colorado Bondshares	Pair Corr
0.9	KYTFX	Kentucky Tax Free	Pair Corr
0.92	UVABX	Virginia Bond	Pair Corr
0.94	UVAIX	Usaa Virginia Bond	Pair Corr
0.94	USVAX	Virginia Bond	Pair Corr
0.63	CISGX	Touchstone Sands Capital	Pair Corr
0.64	JHBCX	Jhancock Blue Chip	Pair Corr
0.71	VIEIX	Vanguard Extended Market	Pair Corr

Moving against Aquila Mutual Fund

0.38	ORFFX	Aquila Tax Free	Pair Corr
0.31	BCMIX	Brown Capital	Pair Corr

Related Correlations Analysis

	ATGAX	ATGYX	ATPAX	ATPYX	UTAYX	UTACX	UTAHX	COTCX	COTYX	COTFX
ATGAX		1.0	0.41	0.44	0.19	0.44	0.28	0.2	0.22	0.15	ATGAX
ATGYX	1.0		0.44	0.46	0.2	0.45	0.29	0.22	0.24	0.17	ATGYX
ATPAX	0.41	0.44		0.99	0.62	0.74	0.72	0.66	0.69	0.66	ATPAX
ATPYX	0.44	0.46	0.99		0.6	0.73	0.7	0.64	0.66	0.64	ATPYX
UTAYX	0.19	0.2	0.62	0.6		0.8	0.91	0.92	0.82	0.91	UTAYX
UTACX	0.44	0.45	0.74	0.73	0.8		0.91	0.9	0.97	0.88	UTACX
UTAHX	0.28	0.29	0.72	0.7	0.91	0.91		0.99	0.92	0.99	UTAHX
COTCX	0.2	0.22	0.66	0.64	0.92	0.9	0.99		0.93	0.99	COTCX
COTYX	0.22	0.24	0.69	0.66	0.82	0.97	0.92	0.93		0.92	COTYX
COTFX	0.15	0.17	0.66	0.64	0.91	0.88	0.99	0.99	0.92		COTFX
	ATGAX	ATGYX	ATPAX	ATPYX	UTAYX	UTACX	UTAHX	COTCX	COTYX	COTFX

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Risk-Adjusted Indicators

There is a big difference between Aquila Mutual Fund performing well and Aquila Tax 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 Tax'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	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	0.00	(0.42)	(0.23)	0.09	(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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