Hawaiian Tax Correlations

HULCX Fund

USD 10.62 0.01 0.09%

The current 90-days correlation between Hawaiian Tax Free and California High Yield Municipal is 0.15 (i.e., Average diversification). The correlation of Hawaiian 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.

Hawaiian Tax Correlation With Market

Average diversification

The correlation between Hawaiian Tax Free Trust and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hawaiian Tax Free Trust and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hawaiian 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 Hawaiian Mutual Fund

0.99	HULAX	Hawaiian Tax Free	Pair Corr
0.99	HULFX	Hawaiian Tax Free	Pair Corr
0.99	HULYX	Hawaiian Tax Free	Pair Corr
0.92	ORTYX	Aquila Tax Free	Pair Corr
0.93	KYTFX	Kentucky Tax Free	Pair Corr
0.77	UVABX	Virginia Bond	Pair Corr
0.85	UVAIX	Usaa Virginia Bond	Pair Corr
0.75	USVAX	Virginia Bond	Pair Corr
0.63	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.74	VZ	Verizon Communications Fiscal Year End 28th of January 2025	Pair Corr

Moving against Hawaiian Mutual Fund

0.74	LETRX	Voya Russia Fund	Pair Corr
0.64	SMPSX	Semiconductor Ultrasector	Pair Corr
0.46	LSHCX	Horizon Spin Off Downward Rally	Pair Corr
0.44	KNPCX	Kinetics Paradigm	Pair Corr
0.44	KNPYX	Kinetics Paradigm	Pair Corr
0.44	WWNPX	Kinetics Paradigm	Pair Corr
0.41	KMKCX	Kinetics Market Oppo	Pair Corr
0.41	LSHUX	Horizon Spin Off Downward Rally	Pair Corr
0.4	KNPAX	Kinetics Paradigm	Pair Corr
0.37	KMKAX	Kinetics Market Oppo	Pair Corr
0.57	INTC	Intel Sell-off Trend	Pair Corr
0.52	HPQ	HP Inc	Pair Corr
0.48	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.46	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.46	CSCO	Cisco Systems	Pair Corr
0.43	ACP	Aberdeen Income Credit	Pair Corr
0.42	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.39	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.34	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr

Related Correlations Analysis

	BCHIX	FHAIX	MWHIX	LBETX	APDFX	AWF	FFCGX	AGTFX
BCHIX		0.39	0.75	0.05	0.3	0.61	0.16	-0.01	BCHIX
FHAIX	0.39		0.52	0.46	0.6	0.35	0.6	0.52	FHAIX
MWHIX	0.75	0.52		0.27	0.54	0.65	0.43	0.28	MWHIX
LBETX	0.05	0.46	0.27		0.89	-0.13	0.85	0.83	LBETX
APDFX	0.3	0.6	0.54	0.89		0.05	0.82	0.7	APDFX
AWF	0.61	0.35	0.65	-0.13	0.05		0.26	0.1	AWF
FFCGX	0.16	0.6	0.43	0.85	0.82	0.26		0.87	FFCGX
AGTFX	-0.01	0.52	0.28	0.83	0.7	0.1	0.87		AGTFX
	BCHIX	FHAIX	MWHIX	LBETX	APDFX	AWF	FFCGX	AGTFX

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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

APDFX	+ 0.89	LBETX
AGTFX	+ 0.87	FFCGX
FFCGX	+ 0.85	LBETX
AGTFX	+ 0.83	LBETX
FFCGX	+ 0.82	APDFX
MWHIX	+ 0.75	BCHIX

High negative correlations

AWF	- 0.13	LBETX
AGTFX	- 0.01	BCHIX

Risk-Adjusted Indicators

There is a big difference between Hawaiian Mutual Fund performing well and Hawaiian 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 Hawaiian 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BCHIX	0.16	0.01	(0.29)	0.02	0.25	(0.22)	0.40	(0.40)	1.53
FHAIX	0.10	0.00	0.00	0.29	0.00	0.00	0.57	(0.57)	1.14
MWHIX	0.08	0.00	(0.77)	(0.16)	0.00	(0.17)	0.21	(0.21)	0.64
LBETX	0.19	0.02	(0.20)	0.19	0.00	(0.25)	0.44	(0.35)	1.42
APDFX	0.11	0.04	(0.53)	(4.25)	0.00	(0.18)	0.33	(0.11)	0.66
AWF	0.31	(0.02)	(0.29)	0.00	0.34	(0.37)	0.56	(0.72)	1.83
FFCGX	0.51	0.03	(0.02)	0.16	0.43	(0.59)	1.26	(1.03)	3.41
AGTFX	0.49	0.00	(0.07)	0.12	0.54	(0.59)	1.15	(0.87)	3.87

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