Aquila Three Correlations

Mutual Funds USA . 
Fund . Aquila Three Peaks
ATPAX Fund  USD 8.24  0.01  0.12%   
The current 90-days correlation between Aquila Three Peaks and Firsthand Alternative Energy is 0.35 (i.e., Weak 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

Weak diversification

The correlation between Aquila Three Peaks and DJI is 0.35 (i.e., Weak 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 nation.

Moving together with Aquila Mutual Fund

  0.98ATPYX Aquila Three PeaksPairCorr
  0.78UTAYX Aquila Tax FreePairCorr
  0.77UTACX Aquila Tax FreePairCorr
  0.76UTAHX Aquila Tax FreePairCorr
  0.79COTCX Aquila Tax FreePairCorr
  0.8COTYX Aquila Tax FreePairCorr
  0.78COTFX Aquila Tax FreePairCorr
  0.76AZTYX Aquila Tax FreePairCorr
  0.77AZTFX Aquila Tax FreePairCorr
  0.8AZTCX Aquila Tax FreePairCorr
  0.76HULAX Hawaiian Tax FreePairCorr
  0.71HULCX Hawaiian Tax FreePairCorr
  0.75HULFX Hawaiian Tax FreePairCorr
  0.76HULYX Hawaiian Tax FreePairCorr
  0.77ORTYX Aquila Tax FreePairCorr
  0.76ORTFX Aquila Tax FreePairCorr
  0.77ORTCX Aquila Tax FreePairCorr
  0.76VWEAX Vanguard High YieldPairCorr
  0.76VWEHX Vanguard High YieldPairCorr

Moving against Aquila Mutual Fund

  0.52XGEIX Guggenheim Energy IncomePairCorr

Related Correlations Analysis

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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   
FRNRX
+ 0.94
PEO
PEO
+ 0.92
HNRGX
CGAEX
+ 0.9
ALTEX
PEO
+ 0.87
GRHAX
FRNRX
+ 0.87
HNRGX
FRNRX
+ 0.85
GRHAX
  
High negative correlations   
CGAEX
- 0.24
HNRGX
HNRGX
- 0.17
ALTEX
PEO
- 0.1
ALTEX
PEO
- 0.06
CGAEX

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.

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