Absolute Capital Correlations

Mutual Funds . USA . 
Fund . Absolute Capital Asset
AAMIX Fund  USD 12.72  0.23  1.84%   
The current 90-days correlation between Absolute Capital Asset and John Hancock Funds is 0.61 (i.e., Poor 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 0.76 (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 gross domestic product.

Moving together with Absolute Mutual Fund

  0.83TEBRX Teberg FundPairCorr
  0.82AAMAX Absolute Capital AssetPairCorr
  0.82AAMCX Absolute Capital AssetPairCorr
  0.85ACMIX Absolute Capital DefenderPairCorr
  0.96ACMDX Absolute Capital DefenderPairCorr
  0.73ACMAX Absolute Capital DefenderPairCorr
  0.62PAALX All Asset FundPairCorr
  0.62PATRX Pimco All AssetPairCorr
  0.62PAAIX All Asset FundPairCorr
  0.62PALPX Pimco All AssetPairCorr
  0.62PASAX All Asset FundPairCorr
  0.62PASCX All Asset FundPairCorr
  0.62PAANX Pimco All AssetPairCorr
  0.61PAUPX Pimco All AssetPairCorr
  0.61PAUIX Pimco All AssetPairCorr
  0.63WARRX Wells Fargo AdvantagePairCorr
  0.66PFN Pimco Income StrategyPairCorr
  0.64RBCTX American Funds 2020PairCorr
  0.63PJNQX Jennison Natural ResPairCorr
  0.75MDSKX Blackrock Sm CapPairCorr
  0.71PRSCX T Rowe PricePairCorr
  0.76TBLGX T Rowe PricePairCorr
  0.73MGOYX Victory Munder MidPairCorr
  0.63TRMIX T Rowe PricePairCorr
  0.64WRHIX Ivy High IncomePairCorr
  0.65NBARX American Funds RetirementPairCorr
  0.7MDIZX Mfs InternationalPairCorr
  0.67PAIRX T Rowe PricePairCorr
  0.64VSNGX Jpmorgan Mid CapPairCorr
  0.73BDHAX Blackrock High IncomePairCorr
  0.62WAMFX Walden MidcapPairCorr

Moving against Absolute Mutual Fund

  0.49NXJ Nuveen New JerseyPairCorr
  0.37XNBHX Neuberger Berman IntPairCorr

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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