Absolute Capital Correlations

AAMAX Fund

USD 11.66 0.10 0.87%

The current 90-days correlation between Absolute Capital Asset and Highland Longshort Healthcare is 0.13 (i.e., Average 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

Poor diversification

The correlation between Absolute Capital Asset and DJI is 0.6 (i.e., 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

1.0	AAMIX	Absolute Capital Asset	Pair Corr
1.0	AAMCX	Absolute Capital Asset	Pair Corr
0.98	ACMIX	Absolute Capital Defender	Pair Corr
0.97	ACMDX	Absolute Capital Defender	Pair Corr
0.98	ACMAX	Absolute Capital Defender	Pair Corr
0.81	PAALX	All Asset Fund	Pair Corr
0.81	PATRX	Pimco All Asset	Pair Corr
0.81	PAAIX	All Asset Fund	Pair Corr
0.81	PALPX	Pimco All Asset	Pair Corr
0.81	PASAX	All Asset Fund	Pair Corr
0.81	PASCX	All Asset Fund	Pair Corr
0.82	PAANX	Pimco All Asset	Pair Corr
0.78	PAUPX	Pimco All Asset	Pair Corr
0.78	PAUIX	Pimco All Asset	Pair Corr
0.73	GPBFX	Gmo E Plus	Pair Corr
0.79	WARCX	Wells Fargo Advantage	Pair Corr
0.85	QUAKX	Ab Small Cap	Pair Corr
0.68	FXAIX	Fidelity 500 Index	Pair Corr
0.83	VMCIX	Vanguard Mid Cap	Pair Corr
0.68	VFIAX	Vanguard 500 Index	Pair Corr
0.88	ORIYX	Oak Ridge Small	Pair Corr
0.84	MRRGX	Meridian Growth	Pair Corr

Moving against Absolute Mutual Fund

0.34	GAAKX	Gmo Alternative Allo	Pair Corr
0.33	GAAGX	Gmo Alternative Allo	Pair Corr
0.6	CBHAX	Victory Cemp Market	Pair Corr

Related Correlations Analysis

	HHCZX	FHCCX	BHSRX	SCHLX	XXGRX	SHSSX	LYFAX	XHQHX
HHCZX		0.39	0.49	0.42	0.45	0.47	0.64	0.36	HHCZX
FHCCX	0.39		0.82	0.78	0.83	0.75	0.8	0.7	FHCCX
BHSRX	0.49	0.82		0.97	0.97	0.96	0.93	0.86	BHSRX
SCHLX	0.42	0.78	0.97		0.98	0.99	0.91	0.91	SCHLX
XXGRX	0.45	0.83	0.97	0.98		0.97	0.93	0.9	XXGRX
SHSSX	0.47	0.75	0.96	0.99	0.97		0.92	0.91	SHSSX
LYFAX	0.64	0.8	0.93	0.91	0.93	0.92		0.86	LYFAX
XHQHX	0.36	0.7	0.86	0.91	0.9	0.91	0.86		XHQHX
	HHCZX	FHCCX	BHSRX	SCHLX	XXGRX	SHSSX	LYFAX	XHQHX

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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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
HHCZX	0.13	0.00	(0.08)	0.05	0.10	(0.17)	0.24	(0.24)	1.15
FHCCX	0.97	(0.35)	0.00	(0.99)	0.00	0.00	1.19	(2.23)	15.50
BHSRX	0.70	(0.20)	0.00	(0.58)	0.00	0.00	0.94	(1.63)	6.63
SCHLX	0.60	(0.15)	0.00	(0.74)	0.00	0.00	0.98	(1.60)	3.10
XXGRX	0.67	(0.18)	0.00	(0.58)	0.00	0.00	1.01	(1.62)	3.52
SHSSX	0.62	(0.12)	0.00	(0.43)	0.00	0.00	0.97	(1.41)	3.33
LYFAX	0.62	(0.09)	0.00	(0.31)	0.00	0.00	0.96	(1.57)	3.57
XHQHX	0.77	(0.17)	0.00	(0.77)	0.00	0.00	0.97	(2.29)	4.60

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