Aquila Tax-free Correlations

Mutual Funds . USA . 
Fund . Aquila Tax Free Trust
AZTFX Fund  USD 9.84  0.02  0.20%   
The current 90-days correlation between Aquila Tax Free and Aquila Three Peaks is 0.03 (i.e., Significant 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

Very good diversification

The correlation between Aquila Tax Free Trust and DJI is -0.33 (i.e., Very good 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 census.

Moving together with Aquila Mutual Fund

  0.78ATPAX Aquila Three PeaksPairCorr
  0.76ATPYX Aquila Three PeaksPairCorr
  0.97UTAYX Aquila Tax FreePairCorr
  0.94UTACX Aquila Tax FreePairCorr
  0.95UTAHX Aquila Tax FreePairCorr
  0.97COTCX Aquila Tax FreePairCorr
  0.98COTYX Aquila Tax FreePairCorr
  0.98COTFX Aquila Tax FreePairCorr
  0.89HULAX Hawaiian Tax FreePairCorr
  0.83HULCX Hawaiian Tax FreePairCorr
  0.89HULFX Hawaiian Tax FreePairCorr
  0.81HULYX Hawaiian Tax FreePairCorr
  0.92ORTYX Aquila Tax FreePairCorr
  0.9ORTFX Aquila Tax FreePairCorr
  0.89ORTCX Aquila Tax FreePairCorr
  0.88KYTFX Kentucky Tax FreePairCorr
  0.96UVABX Virginia BondPairCorr
  0.96UVAIX Usaa Virginia BondPairCorr
  0.96USVAX Virginia BondPairCorr

Moving against Aquila Mutual Fund

  0.44LETRX Voya Russia FundPairCorr

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   
ATRIX
+ 1.0
ATGCX
ATPYX
+ 0.98
ATPAX
ATPCX
+ 0.97
ATIPX
ATGYX
+ 0.96
ATGAX
ATGCX
+ 0.91
ATGAX
ATRIX
+ 0.91
ATGAX
  
High negative correlations   
ATPCX
- 0.19
ATGYX
ATPCX
- 0.18
ATGAX
ATRIX
- 0.17
ATPAX
ATRIX
- 0.17
ATPCX
ATPAX
- 0.17
ATGCX
ATPCX
- 0.17
ATGCX

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.

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