Ancorathelen Small Correlations

AATIX Fund

USD 22.01 0.08 0.36%

The current 90-days correlation between Ancorathelen Small Mid and Jhancock Diversified Macro is 0.47 (i.e., Very weak diversification). The correlation of Ancorathelen Small 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.

Ancorathelen Small Correlation With Market

Very poor diversification

The correlation between Ancorathelen Small Mid Cap and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ancorathelen Small Mid Cap 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 Ancorathelen Small Mid Cap. 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 Ancorathelen Mutual Fund

0.95	ANCIX	Ancora Microcap	Pair Corr
1.0	AATSX	Ancorathelen Small Mid	Pair Corr
0.9	ADEIX	Proxy Voting Where	Pair Corr
0.99	VSMAX	Vanguard Small Cap	Pair Corr
0.99	VSCIX	Vanguard Small Cap	Pair Corr
0.99	VSCPX	Vanguard Small Cap	Pair Corr
0.99	NAESX	Vanguard Small Cap	Pair Corr
0.99	FSSNX	Fidelity Small Cap	Pair Corr
0.99	DFSTX	Us Small Cap	Pair Corr
0.99	PASVX	T Rowe Price	Pair Corr
0.99	PRVIX	T Rowe Price	Pair Corr
0.99	TRZVX	T Rowe Price	Pair Corr
0.99	PRSVX	T Rowe Price	Pair Corr
0.95	WWLAX	Westwood Largecap Value	Pair Corr
0.81	GAPIX	Goldman Sachs Equity	Pair Corr
0.96	AMGIX	Income Growth	Pair Corr
0.92	VFINX	Vanguard 500 Index	Pair Corr
0.96	TLCYX	Touchstone Large Cap	Pair Corr
0.92	VFIAX	Vanguard 500 Index	Pair Corr
0.9	MLMAX	Global E Portfolio	Pair Corr
0.92	VWELX	Vanguard Wellington	Pair Corr
0.95	DFMAX	Davidson Multi Cap	Pair Corr
0.94	SAGAX	Ridgeworth Innovative	Pair Corr
0.96	AMGOX	Alger Mid Cap	Pair Corr
0.92	AMEIX	Equity Growth	Pair Corr
0.65	PGAIX	Pimco Global Multi	Pair Corr
0.93	GAB	Gabelli Equity Trust	Pair Corr

Moving against Ancorathelen Mutual Fund

0.56	CIFRX	Columbia Porate Income	Pair Corr
0.53	LIIAX	Columbia Porate Income	Pair Corr
0.52	SRINX	Columbia Porate Income	Pair Corr

Related Correlations Analysis

	JDJRX	FZABX	MDSKX	DTICX	DSCPX	SIGWX	RTOUX
JDJRX		0.82	-0.26	0.42	-0.27	-0.25	-0.19	JDJRX
FZABX	0.82		-0.37	0.4	-0.41	-0.35	-0.3	FZABX
MDSKX	-0.26	-0.37		-0.32	0.99	0.99	1.0	MDSKX
DTICX	0.42	0.4	-0.32		-0.32	-0.29	-0.29	DTICX
DSCPX	-0.27	-0.41	0.99	-0.32		0.99	0.98	DSCPX
SIGWX	-0.25	-0.35	0.99	-0.29	0.99		0.99	SIGWX
RTOUX	-0.19	-0.3	1.0	-0.29	0.98	0.99		RTOUX
	JDJRX	FZABX	MDSKX	DTICX	DSCPX	SIGWX	RTOUX

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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

RTOUX	+ 1.0	MDSKX
DSCPX	+ 0.99	MDSKX
SIGWX	+ 0.99	MDSKX
SIGWX	+ 0.99	DSCPX
RTOUX	+ 0.99	SIGWX
RTOUX	+ 0.98	DSCPX

High negative correlations

DSCPX	- 0.41	FZABX
MDSKX	- 0.37	FZABX
SIGWX	- 0.35	FZABX
DSCPX	- 0.32	DTICX
DTICX	- 0.32	MDSKX
RTOUX	- 0.3	FZABX

Risk-Adjusted Indicators

There is a big difference between Ancorathelen Mutual Fund performing well and Ancorathelen Small 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 Ancorathelen Small'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
JDJRX	0.44	(0.08)	0.00	(0.09)	0.00	0.00	1.00	(0.89)	2.54
FZABX	0.68	(0.15)	0.00	(0.11)	0.00	0.00	1.13	(1.71)	4.32
MDSKX	0.92	(0.03)	0.03	0.10	0.92	(0.99)	2.08	(1.62)	7.61
DTICX	0.07	0.00	(0.74)	0.14	0.04	(0.15)	0.13	(0.13)	0.64
DSCPX	0.82	(0.02)	0.01	0.10	0.77	(0.95)	1.74	(1.43)	6.20
SIGWX	0.75	(0.02)	0.01	0.10	0.83	(0.86)	1.53	(1.38)	7.02
RTOUX	0.80	(0.03)	0.01	0.09	0.84	(0.88)	1.78	(1.45)	6.26

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