Aquila Tax-free Correlations

Mutual Funds . USA . 
Fund . Aquila Tax Free Fund
UTACX Fund  USD 9.55  0.02  0.21%   
The current 90-days correlation between Aquila Tax Free and Aquila Three Peaks is 0.12 (i.e., Average diversification). The correlation of Aquila Tax-free 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-free Correlation With Market

Average diversification

The correlation between Aquila Tax Free Fund and DJI is 0.18 (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 Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Aquila Tax Free Fund. 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 main economic indicators.

Moving together with Aquila Mutual Fund

  0.78ATPAX Aquila Three PeaksPairCorr
  0.76ATPYX Aquila Three PeaksPairCorr
  0.99UTAYX Aquila Tax FreePairCorr
  1.0UTAHX Aquila Tax FreePairCorr
  0.98COTCX Aquila Tax FreePairCorr
  0.97COTYX Aquila Tax FreePairCorr
  0.97COTFX Aquila Tax FreePairCorr
  0.97AZTYX Aquila Tax FreePairCorr
  0.98AZTFX Aquila Tax FreePairCorr
  0.98AZTCX Aquila Tax FreePairCorr
  0.99HULAX Hawaiian Tax FreePairCorr
  0.97HULCX Hawaiian Tax FreePairCorr
  0.99HULFX Hawaiian Tax FreePairCorr
  0.99HULYX Hawaiian Tax FreePairCorr
  0.99ORTYX Aquila Tax FreePairCorr
  0.97ORTFX Aquila Tax FreePairCorr
  0.98ORTCX Aquila Tax FreePairCorr
  0.78HICOX Colorado BondsharesPairCorr
  0.98KYTFX Kentucky Tax FreePairCorr
  0.92UVABX Virginia BondPairCorr
  0.97UVAIX Usaa Virginia BondPairCorr
  0.97USVAX Virginia BondPairCorr

Moving against Aquila Mutual Fund

  0.31ORFFX Aquila Tax FreePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Aquila Mutual Fund performing well and Aquila Tax-free 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-free'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  1.15 (0.28) 0.00 (0.65) 0.00 
 0.00 
 1.58 
(1.54)
 24.87 
ATGYX  1.09 (0.23) 0.00 (0.46) 0.00 
 0.00 
 1.60 
(1.56)
 21.96 
ATPAX  0.10 (0.01)(0.14)(0.67) 0.12 
(0.18)
 0.24 
(0.24)
 0.86 
ATPYX  0.11 (0.01) 0.00 (0.72) 0.00 
 0.00 
 0.24 
(0.24)
 0.99 
UTAYX  0.16 (0.02) 0.00 (0.34) 0.00 
 0.00 
 0.31 
(0.42)
 1.25 
UTACX  0.16 (0.02) 0.00 (0.35) 0.00 
 0.00 
 0.32 
(0.31)
 1.36 
UTAHX  0.16 (0.02) 0.00 (0.37) 0.00 
 0.00 
 0.32 
(0.31)
 1.36 
COTCX  0.15 (0.02) 0.00 (0.40) 0.00 
 0.00 
 0.31 
(0.41)
 1.14 
COTYX  0.16 (0.02) 0.00 (0.40) 0.00 
 0.00 
 0.31 
(0.41)
 1.24 
COTFX  0.15 (0.02) 0.00 (0.36) 0.00 
 0.00 
 0.31 
(0.31)
 1.24 

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