Absolute Capital Correlations

Mutual Funds . USA . 
Fund . Absolute Capital Defender
ACMAX Fund  USD 12.04  0.04  0.33%   
The current 90-days correlation between Absolute Capital Defender and Absolute Capital Defender is 0.98 (i.e., Almost no 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

Very poor diversification

The correlation between Absolute Capital Defender and DJI is 0.88 (i.e., Very 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

  0.94TEBRX Teberg FundPairCorr
  0.92AAMIX Absolute Capital AssetPairCorr
  0.92AAMAX Absolute Capital AssetPairCorr
  0.91AAMCX Absolute Capital AssetPairCorr
  1.0ACMIX Absolute Capital DefenderPairCorr
  1.0ACMDX Absolute Capital DefenderPairCorr
  0.91PAALX All Asset FundPairCorr
  0.91PATRX Pimco All AssetPairCorr
  0.91PALPX Pimco All AssetPairCorr
  0.91PASAX All Asset FundPairCorr
  0.91PASCX All Asset FundPairCorr
  0.91PAANX Pimco All AssetPairCorr
  0.9PAUPX Pimco All AssetPairCorr
  0.91PAUIX Pimco All AssetPairCorr
  0.9WARRX Wells Fargo AdvantagePairCorr
  0.87GAAKX Gmo Alternative AlloPairCorr
  0.94GPMFX Guidepath Managed FuturesPairCorr
  0.82PLIBX Plumb BalancedPairCorr
  0.81SDVSX Sit Dividend GrowthPairCorr
  0.96RERAX Europacific GrowthPairCorr
  0.83FROTX Franklin ConvertiblePairCorr
  0.95TIHRX Tiaa-cref High-yieldPairCorr
  0.65JPBEX Jp Morgan CorePairCorr
  0.96FTSAX Fuller Thaler BehavioralPairCorr
  0.73PCSIX Pace Strategic FixedPairCorr
  0.97FSATX Fidelity Asset ManagerPairCorr
  0.95KADIX Kensington ActivePairCorr
  0.72TIIWX Tiaa-cref Inflation-linkedPairCorr

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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