Absolute Capital Correlations

AAMAX Fund

USD 12.69 0.01 0.08%

The current 90-days correlation between Absolute Capital Asset and American Century High is -0.03 (i.e., Good diversification). The correlation of Absolute Capital 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.

Absolute Capital Correlation With Market

Very poor diversification

The correlation between Absolute Capital Asset and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Absolute Capital Asset 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 Absolute Capital Asset. 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 nation.

Moving together with Absolute Mutual Fund

0.91	TEBRX	Teberg Fund	Pair Corr
1.0	AAMIX	Absolute Capital Asset	Pair Corr
0.91	AAMCX	Absolute Capital Asset	Pair Corr
0.9	ACMIX	Absolute Capital Defender	Pair Corr
0.9	ACMDX	Absolute Capital Defender	Pair Corr
0.95	ACMAX	Absolute Capital Defender	Pair Corr
0.84	PASAX	All Asset Fund	Pair Corr
0.82	PASCX	All Asset Fund	Pair Corr
0.81	PAUIX	Pimco All Asset	Pair Corr
0.64	PFN	Pimco Income Strategy	Pair Corr
0.83	RBCTX	American Funds 2020	Pair Corr
0.85	PJNQX	Jennison Natural Res	Pair Corr
0.82	MDSKX	Blackrock Sm Cap	Pair Corr
0.72	PRSCX	T Rowe Price	Pair Corr
0.66	TBLGX	T Rowe Price	Pair Corr
0.8	MGOYX	Victory Munder Mid	Pair Corr
0.67	TRMIX	T Rowe Price	Pair Corr
0.7	WRHIX	Ivy High Income	Pair Corr
0.87	NBARX	American Funds Retirement	Pair Corr
0.63	MDIZX	Mfs International	Pair Corr
0.85	PAIRX	T Rowe Price	Pair Corr
0.68	VSNGX	Jpmorgan Mid Cap	Pair Corr
0.81	MGOSX	Victory Munder Mid	Pair Corr
0.69	WAMFX	Walden Midcap	Pair Corr
0.65	DCNJX	Dreyfus New Jersey	Pair Corr
0.83	RJAIX	T Rowe Price Steady Growth	Pair Corr
0.88	APDGX	Artisan Global Value	Pair Corr
0.86	MEDCX	Mfs Emerging Markets	Pair Corr
0.71	FOFZX	Franklin Oregon Tax	Pair Corr

Moving against Absolute Mutual Fund

0.42	NXJ	Nuveen New Jersey	Pair Corr
0.5	XNBHX	Neuberger Berman Int	Pair Corr

Related Correlations Analysis

	PHYZX	CYBAX	TAHYX	GMOZX	LHYOX	PHDTX	PAHIX	ACHFX
PHYZX		0.96	0.95	0.96	0.95	0.96	0.93	0.96	PHYZX
CYBAX	0.96		0.98	0.96	0.98	0.96	0.96	0.97	CYBAX
TAHYX	0.95	0.98		0.96	0.99	0.97	0.96	0.96	TAHYX
GMOZX	0.96	0.96	0.96		0.95	0.96	0.94	0.96	GMOZX
LHYOX	0.95	0.98	0.99	0.95		0.96	0.96	0.97	LHYOX
PHDTX	0.96	0.96	0.97	0.96	0.96		0.91	0.93	PHDTX
PAHIX	0.93	0.96	0.96	0.94	0.96	0.91		0.99	PAHIX
ACHFX	0.96	0.97	0.96	0.96	0.97	0.93	0.99		ACHFX
	PHYZX	CYBAX	TAHYX	GMOZX	LHYOX	PHDTX	PAHIX	ACHFX

Risk-Adjusted Indicators

There is a big difference between Absolute Mutual Fund performing well and Absolute Capital 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 Capital'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PHYZX	0.12	0.02	(0.20)	0.26	(0.27)	0.21	(0.21)	0.84
CYBAX	0.09	0.02	(0.50)	1.11	(0.12)	0.24	(0.12)	0.76
TAHYX	0.11	0.02	(0.32)	5.39	(0.17)	0.23	(0.22)	0.80
GMOZX	0.09	0.02	(0.30)	0.22	(0.12)	0.23	(0.12)	0.71
LHYOX	0.13	0.02	(0.23)	(7.11)	(0.22)	0.32	(0.16)	1.11
PHDTX	0.07	0.03	(0.31)	2.32	(0.13)	0.22	(0.11)	0.44
PAHIX	0.12	0.01	(0.29)	0.22	(0.23)	0.17	(0.17)	1.01
ACHFX	0.10	0.01	(0.31)	0.22	(0.19)	0.23	(0.11)	0.92

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