Absolute Capital Correlations

Mutual Funds . USA . 
Fund . Absolute Capital Asset
AAMIX Fund  USD 12.70  0.01  0.08%   
The current 90-days correlation between Absolute Capital Asset and The Teberg Fund is 0.9 (i.e., Almost no 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 0.85 (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 gross domestic product.

Moving together with Absolute Mutual Fund

  0.96TEBRX Teberg FundPairCorr
  0.9AAMAX Absolute Capital AssetPairCorr
  1.0AAMCX Absolute Capital AssetPairCorr
  0.96ACMIX Absolute Capital DefenderPairCorr
  0.96ACMDX Absolute Capital DefenderPairCorr
  0.89ACMAX Absolute Capital DefenderPairCorr
  0.84PAALX All Asset FundPairCorr
  0.84PATRX Pimco All AssetPairCorr
  0.84PAAIX All Asset FundPairCorr
  0.84PALPX Pimco All AssetPairCorr
  0.81PASAX All Asset FundPairCorr
  0.85PASCX All Asset FundPairCorr
  0.84PAANX Pimco All AssetPairCorr
  0.82PAUPX Pimco All AssetPairCorr
  0.83PAUIX Pimco All AssetPairCorr
  0.8WARRX Wells Fargo AdvantagePairCorr
  0.79SMPIX Semiconductor UltrasectorPairCorr
  0.77SMPSX Semiconductor UltrasectorPairCorr
  0.69RMQAX Monthly RebalancePairCorr
  0.7RMQHX Monthly RebalancePairCorr
  0.74UJPIX Ultrajapan ProfundPairCorr
  0.68RYVYX Nasdaq 100 2xPairCorr
  0.81RYVLX Nasdaq 100 2xPairCorr
  0.74ONERX One Rock FundPairCorr
  0.86USAUX Aggressive GrowthPairCorr
  0.64CMGUX Cmg Ultra ShortPairCorr
  0.62VFISX Vanguard Short TermPairCorr
  0.71ACCLX Mid Cap ValuePairCorr
  0.95AGVFX American Funds GlobalPairCorr
  0.63OIBIX Oppenheimer IntlPairCorr
  0.9AADEX American Beacon LargePairCorr
  0.66LCPMX Lind Capital PartnersPairCorr
  0.62HOSIX Holbrook StructuredPairCorr
  0.8PRWAX T Rowe PricePairCorr
  0.86GHTRX Goldman Sachs InternPairCorr
  0.73VDSRX Victory Diversified StockPairCorr

Moving against Absolute Mutual Fund

  0.51UJPSX Ultrajapan ProfundPairCorr
  0.46RMQCX Monthly RebalancePairCorr

Related Correlations Analysis


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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