Aquila Tax-free Correlations

Mutual Funds . USA . 
Fund . Aquila Tax Free Fund
UTAHX Fund  USD 9.70  0.01  0.10%   
The current 90-days correlation between Aquila Tax Free and Qs Large Cap is 0.06 (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 Fund and DJI is -0.35 (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 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 rate.

Moving together with Aquila Mutual Fund

  0.74ATPAX Aquila Three PeaksPairCorr
  0.69ATPYX Aquila Three PeaksPairCorr
  0.99UTAYX Aquila Tax FreePairCorr
  1.0UTACX Aquila Tax FreePairCorr
  0.98COTCX Aquila Tax FreePairCorr
  0.97COTYX Aquila Tax FreePairCorr
  0.99COTFX Aquila Tax FreePairCorr
  0.95AZTFX Aquila Tax FreePairCorr
  0.97HULAX Hawaiian Tax FreePairCorr
  0.94HULCX Hawaiian Tax FreePairCorr
  0.97HULFX Hawaiian Tax FreePairCorr
  0.88HULYX Hawaiian Tax FreePairCorr
  0.98ORTYX Aquila Tax FreePairCorr
  0.98ORTFX Aquila Tax FreePairCorr
  0.97ORTCX Aquila Tax FreePairCorr
  0.89KYTFX Kentucky Tax FreePairCorr
  0.92UVABX Virginia BondPairCorr
  0.92UVAIX Usaa Virginia BondPairCorr
  0.92USVAX Virginia BondPairCorr

Moving against Aquila Mutual Fund

  0.41ATGCX Aquila Three PeaksPairCorr
  0.41ATRIX Aquila Three PeaksPairCorr
  0.39ATGYX Aquila Three PeaksPairCorr
  0.38ATGAX Aquila Three PeaksPairCorr
  0.35KSCYX Kinetics Small CapPairCorr
  0.34KSOCX Kinetics Small CapPairCorr
  0.67LETRX Voya Russia FundPairCorr
  0.4MLMAX Global E PortfolioPairCorr
  0.36ILESX Fisher InvestmentsPairCorr
  0.34KSCOX Kinetics Small CapPairCorr
  0.33KNPCX Kinetics Paradigm Steady GrowthPairCorr
  0.33WWNPX Kinetics Paradigm Steady GrowthPairCorr
  0.33AMEIX Equity GrowthPairCorr
  0.33TLCYX Touchstone Large CapPairCorr
  0.32KNPAX Kinetics Paradigm Steady GrowthPairCorr
  0.32LSHUX Horizon Spin Off Steady 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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