Absolute Convertible Competition

ARBIX Fund

USD 11.68 0.01 0.09%

Absolute Convertible competes with Vanguard Lifestrategy, Transamerica Emerging, Rbc Emerging, Locorr Long/short, and Black Oak; as well as few others. The fund is listed under Relative Value Arbitrage category and is part of Absolute Investment Advisers family. Analyzing Absolute Convertible competition allows you to expand the diversification possibilities of your existing portfolios and to get a better perspective on locking in new positions. Investors sometimes prefer comparable analysis of Absolute Convertible to its intrinsic valuation because they are able to contrast its competitors on a relative basis. Check out Absolute Convertible Correlation with its peers.

Absolute Convertible vs Shelton Emerging Correlation

Very poor diversification

The correlation between Absolute Convertible Arbitrage and EMSLX is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Absolute Convertible Arbitrage and EMSLX in the same portfolio, assuming nothing else is changed.

Moving together with Absolute Mutual Fund

0.98	ARBOX	Absolute Convertible	Pair Corr
0.91	ACEFX	Absolute Cef Opportu	Pair Corr
0.82	CAPOX	Absolute Capital Opp	Pair Corr
0.92	CVSCX	Calamos Market Neutral	Pair Corr

Specify up to 10 symbols:

Hype

Prediction

Low	Estimated	High
11.25	11.68	12.11

Details

Intrinsic

Valuation

Low	Real	High
10.25	10.68	12.85

Details

Absolute Convertible Competition Correlation Matrix

Typically, diversification allows investors to combine positions across different asset classes to reduce overall portfolio risk. Correlation between Absolute Convertible and its competitors represents the degree of relationship between the price movements of corresponding funds. A correlation of about +1.0 implies that the price of Absolute and its corresponding peer move in tandem. A correlation of -1.0 means that prices move in opposite directions. A correlation of close to zero suggests that the price movements of assets are uncorrelated; in other words, the historical price movement of Absolute Convertible does not affect the price movement of the other competitor.

	VASGX	TEOJX	REMVX	LCSAX	BOGSX	QLMETX	EMSLX
VASGX		0.92	0.9	0.45	0.87	-0.49	0.92	VASGX
TEOJX	0.92		0.99	0.51	0.78	-0.39	0.84	TEOJX
REMVX	0.9	0.99		0.5	0.74	-0.34	0.82	REMVX
LCSAX	0.45	0.51	0.5		0.26	-0.23	0.45	LCSAX
BOGSX	0.87	0.78	0.74	0.26		-0.47	0.73	BOGSX
QLMETX	-0.49	-0.39	-0.34	-0.23	-0.47		-0.64	QLMETX
EMSLX	0.92	0.84	0.82	0.45	0.73	-0.64		EMSLX
	VASGX	TEOJX	REMVX	LCSAX	BOGSX	QLMETX	EMSLX

High positive correlations

REMVX	+ 0.99	TEOJX
TEOJX	+ 0.92	VASGX
EMSLX	+ 0.92	VASGX
REMVX	+ 0.9	VASGX
BOGSX	+ 0.87	VASGX
EMSLX	+ 0.84	TEOJX

High negative correlations

EMSLX	- 0.64	QLMETX
QLMETX	- 0.49	VASGX
QLMETX	- 0.47	BOGSX
QLMETX	- 0.39	TEOJX
QLMETX	- 0.34	REMVX
QLMETX	- 0.23	LCSAX

Risk-Adjusted Indicators

There is a big difference between Absolute Mutual Fund performing well and Absolute Convertible 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 Absolute Convertible'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
VASGX	0.46	0.03	(0.01)	0.13	0.47	(0.52)	0.92	(0.94)	2.57
TEOJX	0.66	0.17	0.10	4.29	0.61	(0.76)	1.62	(1.27)	4.27
REMVX	0.63	0.25	0.29	5.39	0.00	(0.86)	1.57	(0.84)	3.28
LCSAX	0.42	0.01	(0.09)	0.21	0.64	(0.43)	0.94	(0.93)	4.23
BOGSX	1.11	(0.07)	(0.04)	0.02	1.57	(1.05)	2.31	(2.67)	5.97
QLMETX	0.68	(0.10)	0.00	(0.10)	0.00	0.00	1.04	(1.11)	12.98
EMSLX	1.01	0.44	0.37	0.99	0.39	(1.16)	2.05	(1.66)	19.48

Absolute Convertible Competitive Analysis

The better you understand Absolute Convertible competitors, the better chance you have of utilizing it as a position in your portfolios. From an individual investor's perspective, Absolute Convertible's competitive analysis can cover a whole range of metrics. Some of these will be more critical depending on who you are as an investor and how you react to market volatility. However, if you are locking your investment sandscape to a long-term horizon, comparing the fundamental indicator across Absolute Convertible's competition over several years is one of the best ways to analyze its investment potential.

Better Than Average

Worse Than Peers

View Performance Chart

	ARBIX	VASGX	TEOJX	REMVX	LCSAX	BOGSX	QLMETX	EMSLX
	0.09 11.68 Absolute	0.04 52.80 VANGUARD	0.17 11.88 Transamerica	1.57 12.92 Rbc	1.02 8.70 Locorr	0.12 8.63 BLACK	0.65 21.59 Legg	0.90 21.31 Shelton
Market Volatility (90 Days Market Risk)	Very steady	Very steady	Very steady	Very steady	Very steady	Not too volatile	Very steady	Very steady
Market Performance (90 Days Performance)	Solid	Good	Solid	Strong	Soft	Mild	Weakest	Solid
Odds of Financial Distress (Probability Of Bankruptcy)	Low	Low	Low	Low	Low	Low	Fair	Low
Current Valuation (Equity Enterprise Value)	Over Valued	Under Valued	Under Valued	Over Valued	Fairly Valued	Fairly Valued	Fairly Valued	Under Valued
Buy or Sell Advice (Average Analysts Consensus)	Not Available	Not Available	Not Available	Not Available	Not Available	Not Available	Not Available	Not Available
Trade Advice (90 Days Macroaxis Advice)	Strong Sell	Strong Buy	Strong Buy	Strong Hold	Strong Hold	Buy	Strong Buy	Strong Buy
Net Asset	1.09 B	25.6 B	378.25 M	109.48 M	405.15 M	62.49 M	N/A	26.47 M
Minimum Initial Investment	25 K	3 K	N/A	250 K	N/A	2 K	N/A	N/A
Price To Book	N/A	1.97 X	N/A	N/A	N/A	3.49 X	N/A	N/A
Five Year Return	4.68 %	8.76 %	2.13 %	8.72 %	2.06 %	5.77 %	N/A	N/A
One Year Return	8.73 %	19.45 %	45.97 %	60.34 %	1.26 %	18.49 %	N/A	N/A
Last Dividend Paid	0.01	0.09	0.01	0.03	0.26	N/A	N/A	0.04
Price To Earning	N/A	17.56 X	N/A	N/A	N/A	23.74 X	N/A	N/A
Price To Sales	N/A	1.38 X	N/A	N/A	N/A	1.65 X	N/A	N/A
Cash Position Weight	36.68 %	4.64 %	8.20 %	2.29 %	32.36 %	3.53 %	N/A	5.15 %
Equity Positions Weight	N/A	76.55 %	91.80 %	97.71 %	N/A	96.47 %	N/A	94.85 %
Three Year Return	7.06 %	15.93 %	15.91 %	21.30 %	(2.59) %	12.64 %	N/A	N/A
Annual Yield	0.02 %	0.02 %	0.01 %	0.02 %	0.08 %	N/A	N/A	0.01 %
Year To Date Return	1.39 %	3.35 %	9.81 %	12.47 %	3.05 %	4.29 %	N/A	N/A
Bond Positions Weight	N/A	18.48 %	N/A	N/A	2.49 %	N/A	N/A	N/A
Ten Year Return	N/A	8.76 %	N/A	N/A	N/A	11.54 %	N/A	N/A
Daily Balance Of Power	9.2 T	0	9.2 T	9.2 T	0	9.2 T	9.2 T	9.2 T
Day Typical Price	11.68	52.8	11.88	12.92	8.7	8.63	21.59	21.31
Period Momentum Indicator	0.01	(0.02)	0.02	0.2	(0.09)	0.01	0.14	0.19
Rate Of Daily Change	1.0	1.0	1.0	1.02	0.99	1.0	1.01	1.01
Day Median Price	11.68	52.8	11.88	12.92	8.7	8.63	21.59	21.31
Price Action Indicator	0.005	(0.01)	0.01	0.1	(0.04)	0.005	0.07	0.095
Coefficient Of Variation	493.94	685.34	477.67	293.82	2479.5	4116.76	(3,522)	477.18
Mean Deviation	0.1129	0.4573	0.6621	0.6274	0.4181	1.11	0.6776	1.01
Jensen Alpha	0.074	0.0266	0.169	0.2498	0.0089	(0.07)	(0.10)	0.4395
Total Risk Alpha	0.0309	0.0155	0.0824	0.1737	(0.05)	(0.12)	(0.22)	0.2384
Sortino Ratio	(0.08)	(0.01)	0.0978	0.289	(0.09)	(0.04)	N/A	0.3693
Downside Variance	0.0119	0.4014	0.8414	0.3502	0.5805	2.68	N/A	1.16
Standard Deviation	0.4124	0.5968	0.871	0.7747	0.6115	1.44	1.59	2.34
Kurtosis	61.68	0.4458	0.4441	(0.33)	4.44	0.0755	47.86	44.35
Potential Upside	0.172	0.9181	1.62	1.57	0.9423	2.31	1.04	2.05
Treynor Ratio	(11.31)	0.1263	4.29	5.39	0.2097	0.0211	(0.1)	0.9897
Maximum Drawdown	3.42	2.57	4.27	3.28	4.23	5.97	12.98	19.48
Variance	0.1701	0.3561	0.7587	0.6001	0.3739	2.09	2.53	5.46
Market Risk Adjusted Performance	(11.30)	0.1363	4.3	5.4	0.2197	0.0311	(0.09)	0.9997
Risk Adjusted Performance	0.1527	0.1134	0.1684	0.2722	0.0292	0.0239	(0.02)	0.1744
Skewness	7.73	(0.23)	(0.12)	0.3017	(0.88)	(0.33)	(6.44)	6.03
Semi Deviation	0.0	0.4733	0.6123	0.0	0.6366	1.57	N/A	0.3906
Information Ratio	(0.02)	(0.01)	0.103	0.2208	(0.11)	(0.04)	(0.09)	0.1699
Value At Risk	(0.09)	(0.94)	(1.27)	(0.84)	(0.93)	(2.67)	(1.11)	(1.66)
Expected Short fall	(0.20)	(0.52)	(0.76)	(0.86)	(0.43)	(1.05)	N/A	(1.16)
Downside Deviation	0.109	0.6335	0.9173	0.5918	0.7619	1.64	N/A	1.07
Semi Variance	(0.08)	0.224	0.3749	(0.01)	0.4052	2.46	N/A	0.1526

Absolute Convertible Competition Performance Charts

Five steps to successful analysis of Absolute Convertible Competition

Absolute Convertible's competitive analysis is the process of researching and evaluating its competitive landscape. It provides an understanding of the strengths, weaknesses, opportunities, and threats (SWOT) faced by Absolute Convertible in relation to its competition. Absolute Convertible's competition analysis typically involves several steps, including:

Identifying the key players in the market: This involves identifying the major competitors of Absolute Convertible in the market, both direct and indirect, as well as new entrants and disruptive technologies.
Assessing the strengths and weaknesses of each competitor: This involves evaluating each competitor's strengths and weaknesses in areas such as product offerings, market share, brand recognition, financial performance, and distribution channels.
Understanding the competitive environment: This involves evaluating the regulatory environment, economic conditions, and other factors that may impact Absolute Convertible's competitive landscape.
Identifying opportunities and threats: This involves using the information gathered during the analysis to identify opportunities and threats to Absolute Convertible, and developing a strategy to address them.
Evaluating the competitive landscape: This involves understanding the competitive dynamics of the market, such as pricing, marketing, and distribution strategies, as well as analyzing the competitive advantage of each competitor.

Competitive analysis is an essential tool for businesses to stay ahead of the competition and can be used to inform decision-making and strategy development. By understanding the competitive landscape and staying informed about the activities of competitors, a company can make more informed decisions and improve its overall performance.

Complement your Absolute Convertible position

In addition to having Absolute Convertible in your portfolios, you can quickly add positions using our predefined set of ideas and optimize them against your very unique investing style. A single investing idea is a collection of funds, stocks, ETFs, or cryptocurrencies that are programmatically selected from a pull of investment themes. After you determine your investment opportunity, you can then find an optimal portfolio that will maximize potential returns on the chosen idea or minimize its exposure to market volatility.

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Other Information on Investing in Absolute Mutual Fund

Absolute Convertible financial ratios help investors to determine whether Absolute Mutual Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Absolute with respect to the benefits of owning Absolute Convertible security.

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