Absolute Capital Correlations

Mutual Funds . USA . 
Fund . Absolute Capital Defender
ACMAX Fund  USD 11.94  0.07  0.58%   
The current 90-days correlation between Absolute Capital Defender and Touchstone International Equity is 0.26 (i.e., Modest 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

Almost no diversification

The correlation between Absolute Capital Defender and DJI is 0.93 (i.e., Almost no 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

  0.9TEBRX Teberg FundPairCorr
  0.89AAMIX Absolute Capital AssetPairCorr
  0.96AAMAX Absolute Capital AssetPairCorr
  0.88AAMCX Absolute Capital AssetPairCorr
  0.96ACMIX Absolute Capital DefenderPairCorr
  0.96ACMDX Absolute Capital DefenderPairCorr
  0.93PAALX All Asset FundPairCorr
  0.93PATRX Pimco All AssetPairCorr
  0.93PAAIX All Asset FundPairCorr
  0.93PALPX Pimco All AssetPairCorr
  0.94PASAX All Asset FundPairCorr
  0.93PASCX All Asset FundPairCorr
  0.93PAANX Pimco All AssetPairCorr
  0.91PAUPX Pimco All AssetPairCorr
  0.92PAUIX Pimco All AssetPairCorr
  0.85WARRX Wells Fargo AdvantagePairCorr
  0.91FSMMX Fs Multi StrategyPairCorr
  0.96BTMPX Ishares Msci EafePairCorr
  0.95BTMKX Blackrock InternationalPairCorr
  0.95MDIIX Blackrock Intern IndexPairCorr
  0.8SPMPX Invesco Steelpath MlpPairCorr
  0.8MLPNX Oppenheimer Steelpath MlpPairCorr
  0.8MLPMX Oppenheimer Steelpath MlpPairCorr
  0.8SPMJX Invesco Steelpath MlpPairCorr
  0.94EMACX Enterprise Mergers AndPairCorr
  0.88NSRSX Neuberger Berman SmallPairCorr
  0.93EVCLX Eaton Vance MunicipalPairCorr
  0.92SSDEX State Street TargetPairCorr
  0.87GMOWX Gmo ResourcesPairCorr
  0.92EIGMX Eaton Vance GlobalPairCorr
  0.87GZIRX Goldman Sachs StrategicPairCorr
  0.9HERIX Hartford Emerging MarketsPairCorr
  0.81RPTTX T Rowe PricePairCorr
  0.98RLGAX Riverfront Dynamic EquityPairCorr
  0.86THRLX Thornburg Limited TermPairCorr
  0.92TIBRX Thornburg InvestmentPairCorr
  0.74CWBCX Capital World BondPairCorr
  0.93PFNUX Pimco Dynamic BondPairCorr
  0.79PGRQX Prudential Global RealPairCorr

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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