Aquila Tax-free Correlations

Mutual Funds . USA . 
Fund . Aquila Tax Free Fund
UTAYX Fund  USD 9.58  0.01  0.10%   
The current 90-days correlation between Aquila Tax Free and Ab Global Risk is 0.16 (i.e., Average 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 0.06 (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 World Market Map 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

  0.87ATPAX Aquila Three PeaksPairCorr
  0.89ATPYX Aquila Three PeaksPairCorr
  1.0UTACX Aquila Tax FreePairCorr
  1.0UTAHX Aquila Tax FreePairCorr
  0.95COTCX Aquila Tax FreePairCorr
  0.96COTYX Aquila Tax FreePairCorr
  0.96COTFX Aquila Tax FreePairCorr
  0.99AZTYX Aquila Tax FreePairCorr
  0.99AZTFX Aquila Tax FreePairCorr
  0.98AZTCX Aquila Tax FreePairCorr
  0.97HULAX Hawaiian Tax FreePairCorr
  0.94HULCX Hawaiian Tax FreePairCorr
  0.96HULFX Hawaiian Tax FreePairCorr
  0.98HULYX Hawaiian Tax FreePairCorr
  0.99ORTYX Aquila Tax FreePairCorr
  0.99ORTFX Aquila Tax FreePairCorr
  0.98ORTCX Aquila Tax FreePairCorr
  0.9HICOX Colorado BondsharesPairCorr
  0.95KYTFX Kentucky Tax FreePairCorr
  0.87UVABX Virginia BondPairCorr
  0.88UVAIX Usaa Virginia BondPairCorr
  0.88USVAX Virginia BondPairCorr
  0.71PDI Pimco Dynamic IncomePairCorr
  0.76FTCAX Templeton Strained BondPairCorr
  0.71VWICX Vanguard InternationalPairCorr
  0.83VICSX Vanguard Intermediate-terPairCorr
  0.77FQITX Fidelity Salem StreetPairCorr
  0.85PYCTX Payden RygelPairCorr

Moving against Aquila Mutual Fund

  0.35TCTGX Transamerica CleartrackPairCorr
  0.34TDKTX Cleartrack 2015 ClassPairCorr
  0.34TCTJX Transamerica CleartrackPairCorr

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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