Aquila Tax-free Correlations

Mutual Funds . USA . 
Fund . Aquila Tax Free Trust
ORTFX Fund  USD 10.34  0.02  0.19%   
The current 90-days correlation between Aquila Tax Free and Americafirst Large Cap is 0.04 (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 -0.34 (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 Your Equity Center 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

  0.75ATPAX Aquila Three PeaksPairCorr
  0.68ATPYX Aquila Three PeaksPairCorr
  0.97UTAYX Aquila Tax FreePairCorr
  0.98UTACX Aquila Tax FreePairCorr
  0.98UTAHX Aquila Tax FreePairCorr
  0.97COTCX Aquila Tax FreePairCorr
  0.94COTYX Aquila Tax FreePairCorr
  0.96COTFX Aquila Tax FreePairCorr
  0.9AZTFX Aquila Tax FreePairCorr
  0.99HULAX Hawaiian Tax FreePairCorr
  0.98HULCX Hawaiian Tax FreePairCorr
  0.99HULFX Hawaiian Tax FreePairCorr
  0.92HULYX Hawaiian Tax FreePairCorr
  0.99ORTYX Aquila Tax FreePairCorr
  0.99ORTCX Aquila Tax FreePairCorr
  0.89KYTFX Kentucky Tax FreePairCorr
  0.87UVABX Virginia BondPairCorr
  0.86UVAIX Usaa Virginia BondPairCorr
  0.86USVAX Virginia BondPairCorr

Moving against Aquila Mutual Fund

  0.53ATRIX Aquila Three PeaksPairCorr
  0.52ATGCX Aquila Three PeaksPairCorr
  0.51ATGYX Aquila Three PeaksPairCorr
  0.5ATGAX Aquila Three PeaksPairCorr
  0.49KSOCX Kinetics Small CapPairCorr
  0.49KSCYX Kinetics Small CapPairCorr
  0.72LETRX Voya Russia FundPairCorr
  0.51MLMAX Global E PortfolioPairCorr
  0.49KSCOX Kinetics Small CapPairCorr
  0.49ILESX Fisher InvestmentsPairCorr
  0.48KNPCX Kinetics Paradigm Steady GrowthPairCorr
  0.48WWNPX Kinetics Paradigm Steady GrowthPairCorr
  0.48LSHUX Horizon Spin Off Steady GrowthPairCorr
  0.47KNPAX Kinetics Paradigm Steady GrowthPairCorr
  0.47TLCYX Touchstone Large CapPairCorr
  0.46AMEIX Equity GrowthPairCorr

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.

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