Hawaiian Tax-free Correlations

HULFX Fund

USD 10.45 0.01 0.1%

The current 90-days correlation between Hawaiian Tax Free and Limited Term Tax is 0.95 (i.e., Almost no diversification). The correlation of Hawaiian 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.

Hawaiian Tax-free Correlation With Market

Significant diversification

The correlation between Hawaiian Tax Free Trust and DJI is 0.09 (i.e., Significant 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 census.

Moving together with Hawaiian Mutual Fund

0.7	ATPAX	Aquila Three Peaks	Pair Corr
0.74	ATPYX	Aquila Three Peaks	Pair Corr
0.96	UTAYX	Aquila Tax Free	Pair Corr
0.96	UTACX	Aquila Tax Free	Pair Corr
0.9	UTAHX	Aquila Tax Free	Pair Corr
0.97	COTCX	Aquila Tax Free	Pair Corr
0.97	COTYX	Aquila Tax Free	Pair Corr
0.97	COTFX	Aquila Tax Free	Pair Corr
0.97	AZTYX	Aquila Tax Free	Pair Corr
0.97	AZTFX	Aquila Tax Free	Pair Corr
0.98	AZTCX	Aquila Tax Free	Pair Corr
0.99	HULAX	Hawaiian Tax Free	Pair Corr
0.99	HULCX	Hawaiian Tax Free	Pair Corr
0.91	HULYX	Hawaiian Tax Free	Pair Corr
0.97	ORTYX	Aquila Tax Free	Pair Corr
0.97	ORTFX	Aquila Tax Free	Pair Corr
0.91	ORTCX	Aquila Tax Free	Pair Corr
0.84	HICOX	Colorado Bondshares	Pair Corr
0.97	KYTFX	Kentucky Tax Free	Pair Corr
0.85	UVABX	Virginia Bond	Pair Corr
0.94	UVAIX	Usaa Virginia Bond	Pair Corr
0.94	USVAX	Virginia Bond	Pair Corr
0.74	VICSX	Vanguard Intermediate-ter	Pair Corr
0.64	FQITX	Fidelity Salem Street	Pair Corr
0.77	PYCTX	Payden Rygel	Pair Corr

Moving against Hawaiian Mutual Fund

0.63	TCSUX	Cleartrack 2020 Class	Pair Corr
0.58	TCTGX	Transamerica Cleartrack	Pair Corr
0.57	TDKTX	Cleartrack 2015 Class	Pair Corr
0.57	TCTJX	Transamerica Cleartrack	Pair Corr

Related Correlations Analysis

	LTXFX	ABIMX	UGSFX	MSTPX	TIMTX	FMUUX
LTXFX		0.85	0.89	0.89	0.9	0.91	LTXFX
ABIMX	0.85		0.68	0.98	0.9	0.71	ABIMX
UGSFX	0.89	0.68		0.7	0.7	0.9	UGSFX
MSTPX	0.89	0.98	0.7		0.91	0.74	MSTPX
TIMTX	0.9	0.9	0.7	0.91		0.67	TIMTX
FMUUX	0.91	0.71	0.9	0.74	0.67		FMUUX
	LTXFX	ABIMX	UGSFX	MSTPX	TIMTX	FMUUX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
LTXFX	0.10	0.00	0.16	(0.27)	0.12	(0.14)	0.26	(0.20)	0.65
ABIMX	0.23	(0.02)	0.00	0.51	0.00	0.00	0.51	(0.51)	1.44
UGSFX	0.25	0.02	0.15	0.73	0.24	(0.30)	0.60	(0.50)	1.55
MSTPX	0.13	(0.01)	0.00	0.50	0.00	0.00	0.20	(0.30)	0.91
TIMTX	0.17	(0.02)	0.00	(0.86)	0.00	0.00	0.29	(0.38)	1.03
FMUUX	0.03	0.00	0.00	(0.06)	0.00	0.00	0.10	0.00	0.40

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC