Aquila Three Correlations

Mutual Funds . USA . 
Fund . Aquila Three Peaks
ATGYX Fund  USD 40.97  0.06  0.15%   
The current 90-days correlation between Aquila Three Peaks and Advent Claymore Convertible is 0.85 (i.e., Very poor 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

Poor diversification

The correlation between Aquila Three Peaks and DJI is 0.6 (i.e., Poor 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 manufacturing.

Moving together with Aquila Mutual Fund

  1.0ATGAX Aquila Three PeaksPairCorr
  0.96VIMAX Vanguard Mid CapPairCorr
  0.96VIMSX Vanguard Mid CapPairCorr
  0.96VMCPX Vanguard Mid CapPairCorr
  0.96VMCIX Vanguard Mid CapPairCorr
  0.97VEXAX Vanguard Extended MarketPairCorr
  0.97VEMPX Vanguard Extended MarketPairCorr
  0.97VIEIX Vanguard Extended MarketPairCorr
  0.97VSEMX Vanguard Extended MarketPairCorr
  0.97VEXMX Vanguard Extended MarketPairCorr
  0.97FSMAX Fidelity Extended MarketPairCorr

Moving against Aquila Mutual Fund

  0.68SDFCX Swan Defined RiskPairCorr
  0.55FMSCX Fidelity Advisor MortgagePairCorr
  0.52FAIJX FaijxPairCorr
  0.51GILHX Guggenheim LimitedPairCorr
  0.49JSNCX Jhancock Short DurationPairCorr
  0.47RCBDX American Funds PoratePairCorr
  0.45VEDIX Vanguard ExtendedPairCorr
  0.44EKIZX Wells Fargo AdjustablePairCorr
  0.32FSGGX Fidelity Global ExPairCorr

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   
FSAWX
+ 0.98
ARBOX
VAADX
+ 0.95
XAVKX
LCFYX
+ 0.94
XAVKX
LCFYX
+ 0.9
VAADX
CCD
+ 0.88
VAADX
CCD
+ 0.83
XAVKX
  
High negative correlations   
FSAWX
- 0.75
CCD
ARBOX
- 0.66
CCD
FSAWX
- 0.65
VAADX
ARBOX
- 0.52
VAADX
FSAWX
- 0.5
XAVKX
ARBOX
- 0.35
XAVKX

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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