Absolute Cef Correlations

ACEFX Fund

6.44 0.01 0.16%

The current 90-days correlation between Absolute Cef Opportu and Omni Small Cap Value is 0.3 (i.e., Weak diversification). The correlation of Absolute Cef 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 Cef Correlation With Market

Poor diversification

The correlation between Absolute Cef Opportunities and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Absolute Cef Opportunities 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 Cef Opportunities. 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 census.

Moving together with Absolute Mutual Fund

0.79	ARBIX	Absolute Convertible	Pair Corr
0.82	BXMYX	Blackstone Alternative	Pair Corr
0.88	GARTX	Goldman Sachs Absolute	Pair Corr
0.85	GCRTX	Goldman Sachs Absolute	Pair Corr
0.82	BXMIX	Blackstone Alternative	Pair Corr
0.82	BXMDX	Blackstone Alternative	Pair Corr
0.89	AOD	Aberdeen Total Dynamic	Pair Corr
0.87	GFSDX	Columbia Dividend Income	Pair Corr
0.76	CIHCX	Cullen International High	Pair Corr
0.9	LSFIX	Loomis Sayles Fixed	Pair Corr
0.75	JPDVX	Jpmorgan Diversified	Pair Corr
0.68	MFIRX	Ms Global Fixed	Pair Corr
0.73	SEIYX	Simt High Yield	Pair Corr
0.62	DMB	Bny Mellon Municipal	Pair Corr
0.78	ARTQX	Artisan Mid Cap	Pair Corr
0.78	FQDIX	New Hampshire Higher	Pair Corr
0.84	HAONX	Harbor Overseas	Pair Corr
0.84	RESAX	Rbc Bluebay Emerging	Pair Corr
0.81	MUJ	Blackrock Muniholdings	Pair Corr
0.76	LMEAX	Qs International Equity	Pair Corr
0.82	JADGX	Janus Growth And	Pair Corr
0.61	KBIWX	Kbi Global Investors	Pair Corr
0.83	AVALX	Aegis Value Fund	Pair Corr
0.65	NXJ	Nuveen New Jersey	Pair Corr
0.72	USAUX	Aggressive Growth	Pair Corr
0.75	EELDX	Eaton Vance Emerging	Pair Corr
0.89	FVDKX	Fidelity Value Discovery	Pair Corr
0.84	HAOSX	Harbor Overseas	Pair Corr
0.71	HSMFX	Hartford Small Cap	Pair Corr
0.69	DDFAX	Delaware Floating Rate	Pair Corr

Moving against Absolute Mutual Fund

0.43

ARBOX

Absolute Convertible

Pair Corr

Related Correlations Analysis

	BOSVX	FZABX	USCAX	QDARX	EICVX	OPTCX	TMSRX	ARTQX
BOSVX		0.9	0.96	0.58	0.9	0.88	0.62	0.91	BOSVX
FZABX	0.9		0.89	0.53	0.8	0.73	0.55	0.88	FZABX
USCAX	0.96	0.89		0.49	0.91	0.86	0.57	0.96	USCAX
QDARX	0.58	0.53	0.49		0.5	0.65	0.65	0.42	QDARX
EICVX	0.9	0.8	0.91	0.5		0.85	0.56	0.91	EICVX
OPTCX	0.88	0.73	0.86	0.65	0.85		0.8	0.79	OPTCX
TMSRX	0.62	0.55	0.57	0.65	0.56	0.8		0.49	TMSRX
ARTQX	0.91	0.88	0.96	0.42	0.91	0.79	0.49		ARTQX
	BOSVX	FZABX	USCAX	QDARX	EICVX	OPTCX	TMSRX	ARTQX

Risk-Adjusted Indicators

There is a big difference between Absolute Mutual Fund performing well and Absolute Cef 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 Cef'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
BOSVX	0.96	0.14	0.13	0.19	0.83	(1.15)	2.20	(1.44)	8.57
FZABX	0.79	0.29	0.25	3.09	0.55	(0.94)	1.39	(1.42)	13.58
USCAX	0.90	0.08	0.07	0.13	1.01	(0.99)	2.03	(1.93)	6.83
QDARX	0.07	0.02	(0.43)	0.48	0.00	(0.11)	0.16	(0.08)	0.39
EICVX	0.67	0.15	0.14	1.08	0.42	(0.84)	1.36	(0.87)	8.80
OPTCX	0.15	0.01	(0.17)	0.10	0.04	(0.21)	0.40	(0.30)	0.91
TMSRX	0.11	0.00	(0.21)	0.05	0.07	(0.17)	0.23	(0.34)	0.91
ARTQX	0.80	0.12	0.10	0.29	0.63	(1.00)	1.86	(1.10)	9.48

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