Absolute Capital Correlations

ACMAX Fund

USD 11.33 0.04 0.35%

The current 90-days correlation between Absolute Capital Defender and Jpmorgan Ultra Short Municipal is -0.09 (i.e., Good 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 Defender and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Absolute Capital Defender 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 Defender. 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 nation.

Moving together with Absolute Mutual Fund

0.82	AAMIX	Absolute Capital Asset	Pair Corr
0.83	AAMAX	Absolute Capital Asset	Pair Corr
0.84	AAMCX	Absolute Capital Asset	Pair Corr
1.0	ACMIX	Absolute Capital Defender	Pair Corr
1.0	ACMDX	Absolute Capital Defender	Pair Corr
0.79	PAALX	All Asset Fund	Pair Corr
0.8	PATRX	Pimco All Asset	Pair Corr
0.77	PAAIX	All Asset Fund	Pair Corr
0.79	PALPX	Pimco All Asset	Pair Corr
0.8	PASAX	All Asset Fund	Pair Corr
0.82	PASCX	All Asset Fund	Pair Corr
0.79	PAANX	Pimco All Asset	Pair Corr
0.81	PAUPX	Pimco All Asset	Pair Corr
0.81	PAUIX	Pimco All Asset	Pair Corr
0.7	ABRIX	Invesco Balanced Risk	Pair Corr
0.74	TCTGX	Transamerica Cleartrack	Pair Corr
0.75	TDKTX	Cleartrack 2015 Class	Pair Corr
0.75	TCTJX	Transamerica Cleartrack	Pair Corr
0.75	TCSUX	Cleartrack 2020 Class	Pair Corr
0.68	VMVLX	Vanguard Mega Cap	Pair Corr
0.73	PRCGX	Perritt Microcap Opp	Pair Corr
0.84	MDPSX	Mid Cap Profund	Pair Corr
0.83	NPNRX	Neuberger Berman Large	Pair Corr

Moving against Absolute Mutual Fund

0.8	UIPIX	Ultrashort Mid Cap	Pair Corr
0.52	FTCAX	Templeton Strained Bond	Pair Corr
0.39	UISBX	Short Term Bond	Pair Corr
0.32	GSSRX	Goldman Sachs Short	Pair Corr
0.69	TRBUX	T Rowe Price	Pair Corr
0.6	DLDFX	Destinations Low Duration	Pair Corr

Related Correlations Analysis

	USMTX	NSIOX	FCSCX	SNCAX	OKMUX
USMTX		0.26	0.86	-0.06	-0.12	USMTX
NSIOX	0.26		0.27	0.91	0.89	NSIOX
FCSCX	0.86	0.27		-0.06	-0.15	FCSCX
SNCAX	-0.06	0.91	-0.06		0.97	SNCAX
OKMUX	-0.12	0.89	-0.15	0.97		OKMUX
	USMTX	NSIOX	FCSCX	SNCAX	OKMUX

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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

OKMUX	+ 0.97	SNCAX
SNCAX	+ 0.91	NSIOX
OKMUX	+ 0.89	NSIOX
FCSCX	+ 0.86	USMTX
FCSCX	+ 0.27	NSIOX
NSIOX	+ 0.26	USMTX

High negative correlations

OKMUX	- 0.15	FCSCX
OKMUX	- 0.12	USMTX
SNCAX	- 0.06	FCSCX
SNCAX	- 0.06	USMTX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
USMTX	0.03	0.00	0.00	(0.24)	0.00	0.00	0.10	(0.10)	0.30
NSIOX	0.19	0.01	(0.13)	0.96	0.23	(0.26)	0.41	(0.40)	1.62
FCSCX	0.05	0.00	(0.47)	0.06	0.00	(0.23)	0.13	(0.13)	0.67
SNCAX	0.13	(0.01)	(0.26)	(0.18)	0.20	(0.15)	0.29	(0.29)	0.94
OKMUX	0.18	(0.01)	(0.13)	(0.09)	0.30	(0.25)	0.29	(0.56)	2.01

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