Aquila Tax Correlations

Mutual Funds . USA . 
Fund . Aquila Tax Free Trust
AZTCX Fund  USD 9.85  0.01  0.10%   
The current 90-days correlation between Aquila Tax Free and Morningstar Municipal Bond is 0.86 (i.e., Very poor diversification). The correlation of Aquila Tax 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 Correlation With Market

Very good diversification

The correlation between Aquila Tax Free Trust and DJI is -0.26 (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 main economic indicators.

Moving together with Aquila Mutual Fund

  0.8ATPYX Aquila Three PeaksPairCorr
  0.99COTYX Aquila Tax FreePairCorr
  0.92HULAX Hawaiian Tax FreePairCorr
  0.92HULFX Hawaiian Tax FreePairCorr
  0.85HULYX Hawaiian Tax FreePairCorr
  0.93ORTYX Aquila Tax FreePairCorr
  0.68HICOX Colorado BondsharesPairCorr
  0.92KYTFX Kentucky Tax FreePairCorr
  0.97UVABX Virginia BondPairCorr
  0.85UVAIX Usaa Virginia BondPairCorr
  0.96USVAX Virginia BondPairCorr

Moving against Aquila Mutual Fund

  0.4LETRX Voya Russia FundPairCorr
  0.31SMPSX Semiconductor UltrasectorPairCorr

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   
PRINX
+ 0.99
BCHIX
BCHIX
+ 0.98
MSTPX
PRINX
+ 0.98
MSTPX
MDMTX
+ 0.96
BIDPX
FHYVX
+ 0.96
PRINX
FHYVX
+ 0.95
MSTPX
  
High negative correlations   
FHYVX
- 0.0
ICAXX
ICAXX
- 0.0
MDMTX
ICAXX
- 0.0
PRINX
ICAXX
- 0.0
BIDPX
ICAXX
- 0.0
BCHIX
ICAXX
- 0.0
MSTPX

Risk-Adjusted Indicators

There is a big difference between Aquila Mutual Fund performing well and Aquila Tax 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'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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