Aquila Tax-free Correlations

Mutual Funds . USA . 
Fund . Aquila Tax Free Fund
COTCX Fund  USD 9.62  0.01  0.10%   
The current 90-days correlation between Aquila Tax Free and Siit High Yield is 0.2 (i.e., Modest 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

Significant diversification

The correlation between Aquila Tax Free Fund and DJI is 0.01 (i.e., Significant 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 Trending Equities 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 main economic indicators.

Moving together with Aquila Mutual Fund

  0.76ATPAX Aquila Three PeaksPairCorr
  0.78ATPYX Aquila Three PeaksPairCorr
  0.95UTAYX Aquila Tax FreePairCorr
  0.96UTACX Aquila Tax FreePairCorr
  0.96UTAHX Aquila Tax FreePairCorr
  1.0COTYX Aquila Tax FreePairCorr
  0.99COTFX Aquila Tax FreePairCorr
  0.96AZTYX Aquila Tax FreePairCorr
  0.96AZTFX Aquila Tax FreePairCorr
  0.96AZTCX Aquila Tax FreePairCorr
  0.97HULAX Hawaiian Tax FreePairCorr
  0.98HULCX Hawaiian Tax FreePairCorr
  0.97HULFX Hawaiian Tax FreePairCorr
  0.97HULYX Hawaiian Tax FreePairCorr
  0.97ORTYX Aquila Tax FreePairCorr
  0.97ORTFX Aquila Tax FreePairCorr
  0.98ORTCX Aquila Tax FreePairCorr
  0.77HICOX Colorado BondsharesPairCorr
  0.97KYTFX Kentucky Tax FreePairCorr
  0.96UVABX Virginia BondPairCorr
  0.96UVAIX Usaa Virginia BondPairCorr
  0.97USVAX Virginia BondPairCorr
  0.64VICSX Vanguard Intermediate-terPairCorr
  0.61FQITX Fidelity Salem StreetPairCorr
  0.68PYCTX Payden RygelPairCorr

Moving against Aquila Mutual Fund

  0.34TCTGX Transamerica CleartrackPairCorr
  0.34TCTJX Transamerica CleartrackPairCorr
  0.33TDKTX Cleartrack 2015 ClassPairCorr

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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