Absolute Capital Correlations

Mutual Funds . USA . 
Fund . Absolute Capital Asset
AAMAX Fund  USD 12.14  0.05  0.41%   
The current 90-days correlation between Absolute Capital Asset and Transamerica Intermediate Muni is -0.29 (i.e., Very 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

Almost no diversification

The correlation between Absolute Capital Asset and DJI is 0.91 (i.e., Almost no 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

  1.0AAMIX Absolute Capital AssetPairCorr
  1.0AAMCX Absolute Capital AssetPairCorr
  0.99ACMIX Absolute Capital DefenderPairCorr
  0.99ACMDX Absolute Capital DefenderPairCorr
  0.99ACMAX Absolute Capital DefenderPairCorr
  0.99VTSAX Vanguard Total StockPairCorr
  0.98VFIAX Vanguard 500 IndexPairCorr
  0.99VTSMX Vanguard Total StockPairCorr
  0.99VSMPX Vanguard Total StockPairCorr
  0.99VSTSX Vanguard Total StockPairCorr
  0.99VITSX Vanguard Total StockPairCorr
  0.98VFINX Vanguard 500 IndexPairCorr
  0.98VFFSX Vanguard 500 IndexPairCorr
  0.98VINIX Vanguard InstitutionalPairCorr
  0.89VFLEX Relative ValuePairCorr
  0.98VIGAX Vanguard Growth IndexPairCorr
  0.89JHJAX John Hancock EsgPairCorr
  0.76RIDAX Income FundPairCorr
  0.92FDSVX Fidelity Growth DiscoveryPairCorr
  0.95JHEQX Jpmorgan Hedged EquityPairCorr
  0.97PEVAX Pace Smallmedium ValuePairCorr
  0.98VWNEX Vanguard WindsorPairCorr
  0.7THOPX Thompson BondPairCorr
  0.9EADOX Eaton Vance EmergingPairCorr
  0.7GUHYX Victory High YieldPairCorr
  0.97VEXRX Vanguard ExplorerPairCorr
  0.93NWHQX Nationwide BailardPairCorr

Moving against Absolute Mutual Fund

  0.57PAUPX Pimco All AssetPairCorr
  0.55PAUIX Pimco All AssetPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.

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