Absolute Cef Correlations

ACEFX Fund

6.63 0.02 0.30%

The current 90-days correlation between Absolute Cef Opportu and Extended Market Index is 0.58 (i.e., Very 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

Almost no diversification

The correlation between Absolute Cef Opportunities and DJI is 0.94 (i.e., Almost no 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 price.

Moving together with Absolute Mutual Fund

0.91	ARBOX	Absolute Convertible	Pair Corr
0.91	ARBIX	Absolute Convertible	Pair Corr
0.88	CAPOX	Absolute Capital Opp	Pair Corr
0.88	BIMBX	Blackrock Alternative	Pair Corr
0.87	BAMBX	Blackrock Alternative	Pair Corr
0.87	BMBCX	Blackrock Alternative	Pair Corr
0.88	BKMBX	Blackrock Systematic	Pair Corr
0.93	BXMYX	Blackstone Alternative	Pair Corr
0.96	GARTX	Goldman Sachs Absolute	Pair Corr
0.96	GCRTX	Goldman Sachs Absolute	Pair Corr
0.93	BXMIX	Blackstone Alternative	Pair Corr
0.9	BXMDX	Blackstone Alternative	Pair Corr
0.85	PDI	Pimco Dynamic Income	Pair Corr
0.76	PBSIX	Polen Small Pany	Pair Corr
0.98	BISAX	Brandes International	Pair Corr
0.9	CLTCX	Catalyst/lyons Tactical	Pair Corr
0.88	GAPUX	Goldman Sachs Equity	Pair Corr
0.91	FIQZX	Fidelity Intermediate	Pair Corr
0.98	LIGFX	Lord Abbett Diversified	Pair Corr
0.89	WBALX	Balanced Fund Balanced	Pair Corr
0.85	PCSGX	Pace Smallmedium Growth	Pair Corr
0.95	MKGCX	Blackrock Advantage	Pair Corr
0.93	ARCIX	Aqr Risk Balanced	Pair Corr
0.96	BSMIX	Blackrock Smallmid Cap	Pair Corr
0.88	AGTHX	Growth Fund	Pair Corr
0.93	RALAX	Growth Strategy	Pair Corr
0.87	RTDCX	Multifactor Equity	Pair Corr
0.92	RNGFX	New Economy Fund	Pair Corr
0.95	RDBTX	American Funds 2015	Pair Corr

Moving against Absolute Mutual Fund

0.82	TCTGX	Transamerica Cleartrack	Pair Corr
0.81	TDKTX	Cleartrack 2015 Class	Pair Corr
0.81	TCTJX	Transamerica Cleartrack	Pair Corr
0.43	USPSX	Profunds Ultrashort	Pair Corr
0.96	UIPIX	Ultrashort Mid Cap	Pair Corr
0.88	CESGX	Coho Relative Value	Pair Corr
0.81	TCSUX	Cleartrack 2020 Class	Pair Corr
0.41	USPIX	Profunds Ultrashort	Pair Corr

Related Correlations Analysis

	QLENX	ANGCX	ABNTX	ABPYX	GIRMX	USMIX
QLENX		0.67	0.4	0.03	0.5	0.79	QLENX
ANGCX	0.67		0.82	-0.08	0.88	0.86	ANGCX
ABNTX	0.4	0.82		-0.12	0.8	0.61	ABNTX
ABPYX	0.03	-0.08	-0.12		-0.04	0.02	ABPYX
GIRMX	0.5	0.88	0.8	-0.04		0.83	GIRMX
USMIX	0.79	0.86	0.61	0.02	0.83		USMIX
	QLENX	ANGCX	ABNTX	ABPYX	GIRMX	USMIX

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

GIRMX	+ 0.88	ANGCX
USMIX	+ 0.86	ANGCX
USMIX	+ 0.83	GIRMX
ABNTX	+ 0.82	ANGCX
GIRMX	+ 0.8	ABNTX
USMIX	+ 0.79	QLENX

High negative correlations

ABPYX	- 0.12	ABNTX
ABPYX	- 0.08	ANGCX
GIRMX	- 0.04	ABPYX

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
QLENX	0.36	0.07	(0.03)	3.17	0.27	(0.42)	0.85	(0.63)	2.30
ANGCX	0.07	0.01	(0.60)	0.85	0.00	(0.15)	0.12	(0.12)	0.58
ABNTX	0.08	0.00	(0.64)	0.21	0.00	(0.11)	0.10	(0.10)	0.39
ABPYX	0.40	(0.06)	0.00	(0.04)	0.00	0.00	0.77	(1.10)	2.19
GIRMX	0.70	0.14	0.13	0.30	0.48	(0.80)	1.71	(1.28)	4.16
USMIX	0.85	0.13	0.13	0.21	0.70	(1.01)	2.09	(1.49)	5.37

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