Aquila Tax-free Correlations

Mutual Funds USA . 
Fund . Aquila Tax Free Fund
COTYX Fund  USD 9.85  0.01  0.10%   
The current 90-days correlation between Aquila Tax Free and Fidelity Advisor Gold is -0.13 (i.e., Good 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 -0.34 (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 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 manufacturing.

Moving together with Aquila Mutual Fund

  0.79ATPAX Aquila Three PeaksPairCorr
  0.77ATPYX Aquila Three PeaksPairCorr
  0.99UTAYX Aquila Tax FreePairCorr
  0.97UTACX Aquila Tax FreePairCorr
  0.97UTAHX Aquila Tax FreePairCorr
  0.99COTCX Aquila Tax FreePairCorr
  0.99COTFX Aquila Tax FreePairCorr
  0.97AZTYX Aquila Tax FreePairCorr
  0.98AZTFX Aquila Tax FreePairCorr
  0.98AZTCX Aquila Tax FreePairCorr
  0.94HULAX Hawaiian Tax FreePairCorr
  0.89HULCX Hawaiian Tax FreePairCorr
  0.94HULFX Hawaiian Tax FreePairCorr
  0.86HULYX Hawaiian Tax FreePairCorr
  0.96ORTYX Aquila Tax FreePairCorr
  0.94ORTFX Aquila Tax FreePairCorr
  0.94ORTCX Aquila Tax FreePairCorr
  0.91KYTFX Kentucky Tax FreePairCorr
  0.95UVABX Virginia BondPairCorr
  0.94UVAIX Usaa Virginia BondPairCorr
  0.94USVAX Virginia BondPairCorr

Moving against Aquila Mutual Fund

  0.4TGLDX Tocqueville GoldPairCorr

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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