Absolute Capital Correlations

Mutual Funds . USA . 
Fund . Absolute Capital Defender
ACMIX Fund  USD 11.95  0.03  0.25%   
The current 90-days correlation between Absolute Capital Defender and Science Technology Fund is 0.02 (i.e., Significant 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 0.97 (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 gross domestic product.

Moving together with Absolute Mutual Fund

  0.93TEBRX Teberg FundPairCorr
  0.96AAMIX Absolute Capital AssetPairCorr
  0.88AAMAX Absolute Capital AssetPairCorr
  0.94AAMCX Absolute Capital AssetPairCorr
  1.0ACMDX Absolute Capital DefenderPairCorr
  0.94ACMAX Absolute Capital DefenderPairCorr
  0.94PAALX All Asset FundPairCorr
  0.94PATRX Pimco All AssetPairCorr
  0.94PAAIX All Asset FundPairCorr
  0.94PALPX Pimco All AssetPairCorr
  0.92PASAX All Asset FundPairCorr
  0.94PASCX All Asset FundPairCorr
  0.94PAANX Pimco All AssetPairCorr
  0.92PAUPX Pimco All AssetPairCorr
  0.93PAUIX Pimco All AssetPairCorr
  0.83WARRX Wells Fargo AdvantagePairCorr
  0.77EKWDX Wells Fargo AdvantagePairCorr
  0.97PAEIX T Rowe PricePairCorr
  0.77PTRRX Total ReturnPairCorr
  0.94HWHZX Hotchkis Wiley HighPairCorr
  0.61ALNYX Ab New YorkPairCorr
  0.77XKFDX Korea FundPairCorr
  0.81SMTFX Sit Minnesota TaxPairCorr
  0.79KLCSX Federated Kaufmann LargePairCorr
  0.91ACCIX Strategic Allocation:PairCorr
  0.89JDPNX Perkins Mid CapPairCorr
  0.98LIVAX Blackrock Lifepath IndexPairCorr
  0.98TBLKX T Rowe PricePairCorr
  0.84PIFEX Prudential Short TermPairCorr
  0.86HWCIX Hotchkis Wiley DiverPairCorr
  0.92RYCEX Europe 125x StrategyPairCorr
  0.88FFIDX Fidelity Fund FidelityPairCorr
  0.8PHSZX Prudential HealthPairCorr
  0.92PNRZX Pgim Jennison Natural Steady GrowthPairCorr
  0.8FITQX Franklin Federal IntPairCorr
  0.7MPSTX Bny Mellon NationalPairCorr
  0.94RITBX American High IncomePairCorr

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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