Absolute Capital Correlations

Mutual Funds . USA . 
Fund . Absolute Capital Defender
ACMDX Fund  USD 11.17  0.04  0.36%   
The current 90-days correlation between Absolute Capital Defender and Absolute Capital Asset is 0.91 (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

Almost no diversification

The correlation between Absolute Capital Defender and DJI is 0.98 (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 small area income & poverty estimates.

Moving together with Absolute Mutual Fund

  0.96TEBRX Teberg FundPairCorr
  0.94AAMIX Absolute Capital AssetPairCorr
  0.89AAMAX Absolute Capital AssetPairCorr
  0.93AAMCX Absolute Capital AssetPairCorr
  1.0ACMIX Absolute Capital DefenderPairCorr
  1.0ACMAX Absolute Capital DefenderPairCorr
  0.9PAALX All Asset FundPairCorr
  0.9PATRX Pimco All AssetPairCorr
  0.9PAAIX All Asset FundPairCorr
  0.9PALPX Pimco All AssetPairCorr
  0.9PASAX All Asset FundPairCorr
  0.9PASCX All Asset FundPairCorr
  0.9PAANX Pimco All AssetPairCorr
  0.88PAUPX Pimco All AssetPairCorr
  0.88PAUIX Pimco All AssetPairCorr
  0.88WARRX Wells Fargo AdvantagePairCorr
  0.87GAAKX Gmo Alternative AlloPairCorr
  0.87GAAGX Gmo Alternative AlloPairCorr
  0.72GPBFX Gmo E PlusPairCorr
  0.95GPMFX Guidepath Managed FuturesPairCorr
  0.9PQTAX Pimco Trends ManagedPairCorr
  0.92PQTNX Pimco Trends ManagedPairCorr
  0.92PQTIX Aa Pimco TrPairCorr
  0.87WARCX Wells Fargo AdvantagePairCorr
  0.96LCRIX Leuthold E InvestmentPairCorr
  0.83PLIBX Plumb BalancedPairCorr
  0.84SDVSX Sit Dividend GrowthPairCorr
  0.95RERAX Europacific GrowthPairCorr
  0.84FROTX Franklin ConvertiblePairCorr
  0.96TIHRX Tiaa-cref High-yieldPairCorr
  0.65JPBEX Jp Morgan CorePairCorr
  0.96FTSAX Fuller Thaler BehavioralPairCorr
  0.75PCSIX Pace Strategic FixedPairCorr
  0.97FSATX Fidelity Asset ManagerPairCorr
  0.93AMDWX Amana Developing WorldPairCorr
  0.92KADIX Kensington ActivePairCorr
  0.68TIIWX Tiaa-cref Inflation-linkedPairCorr
  0.95MVIIX Praxis Value IndexPairCorr
  0.7CUSUX Six Circles UnconstrainedPairCorr

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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