Absolute Capital Correlations

AAMCX Fund

USD 11.01 0.05 0.45%

The current 90-days correlation between Absolute Capital Asset and Towpath Technology is 0.2 (i.e., Modest 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

Significant diversification

The correlation between Absolute Capital Asset and DJI is 0.09 (i.e., Significant 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 main economic indicators.

Moving together with Absolute Mutual Fund

1.0	AAMIX	Absolute Capital Asset	Pair Corr
1.0	AAMAX	Absolute Capital Asset	Pair Corr
0.84	ACMIX	Absolute Capital Defender	Pair Corr
0.84	ACMDX	Absolute Capital Defender	Pair Corr
0.84	ACMAX	Absolute Capital Defender	Pair Corr
0.67	PAALX	All Asset Fund	Pair Corr
0.67	PATRX	Pimco All Asset	Pair Corr
0.65	PAAIX	All Asset Fund	Pair Corr
0.68	PALPX	Pimco All Asset	Pair Corr
0.69	PASAX	All Asset Fund	Pair Corr
0.71	PASCX	All Asset Fund	Pair Corr
0.66	PAANX	Pimco All Asset	Pair Corr
0.7	PAUPX	Pimco All Asset	Pair Corr
0.7	PAUIX	Pimco All Asset	Pair Corr
0.8	XDSMX	Dreyfus Strategic	Pair Corr
0.8	XNXJX	Nuveen New Jersey	Pair Corr
0.82	XNBHX	Neuberger Berman Int	Pair Corr
0.85	PZHEX	T Rowe Price	Pair Corr
0.78	VBCVX	Broad Cap Value	Pair Corr

Moving against Absolute Mutual Fund

0.31	PFN	Pimco Income Strategy	Pair Corr
0.5	SWSFX	Ultra Short Fixed	Pair Corr
0.68	PRLVX	Private Shares	Pair Corr
0.57	DNMDX	Dunham Monthly Distr	Pair Corr

Related Correlations Analysis

	TOWTX	GISTX	ICTEX	PGKCX	CGTUX	USTCX	TEFQX	HTECX
TOWTX		0.67	0.59	0.48	0.51	0.6	0.66	0.67	TOWTX
GISTX	0.67		0.23	0.82	0.83	0.94	0.9	0.75	GISTX
ICTEX	0.59	0.23		0.28	-0.03	0.04	0.13	0.63	ICTEX
PGKCX	0.48	0.82	0.28		0.74	0.76	0.7	0.72	PGKCX
CGTUX	0.51	0.83	-0.03	0.74		0.92	0.71	0.49	CGTUX
USTCX	0.6	0.94	0.04	0.76	0.92		0.88	0.65	USTCX
TEFQX	0.66	0.9	0.13	0.7	0.71	0.88		0.71	TEFQX
HTECX	0.67	0.75	0.63	0.72	0.49	0.65	0.71		HTECX
	TOWTX	GISTX	ICTEX	PGKCX	CGTUX	USTCX	TEFQX	HTECX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

USTCX	+ 0.94	GISTX
USTCX	+ 0.92	CGTUX
TEFQX	+ 0.9	GISTX
TEFQX	+ 0.88	USTCX
CGTUX	+ 0.83	GISTX
PGKCX	+ 0.82	GISTX

High negative correlations

CGTUX

- 0.03

ICTEX

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
TOWTX	0.65	0.07	0.02	0.31	0.99	(0.71)	1.27	(1.21)	5.74
GISTX	1.13	0.11	0.04	0.34	1.55	(1.14)	2.26	(2.52)	7.34
ICTEX	0.88	0.00	(0.02)	0.07	1.43	(0.82)	1.78	(1.95)	7.14
PGKCX	1.27	0.03	0.00	0.14	1.94	(1.19)	2.27	(2.55)	9.62
CGTUX	1.10	0.06	0.02	0.21	1.50	(1.16)	2.02	(2.28)	8.23
USTCX	1.20	0.12	0.06	0.27	1.46	(1.25)	2.71	(2.14)	7.48
TEFQX	1.36	0.18	0.09	0.37	1.63	(1.51)	2.95	(2.79)	8.29
HTECX	1.05	0.07	0.02	0.22	1.60	(0.99)	1.73	(2.31)	9.04

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