Absolute Capital Correlations

Mutual Funds . USA . 
Fund . Absolute Capital Defender
ACMIX Fund  USD 12.00  0.03  0.25%   
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

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 gross domestic product.

Moving together with Absolute Mutual Fund

  0.95TEBRX Teberg FundPairCorr
  0.95AAMIX Absolute Capital AssetPairCorr
  0.94AAMAX Absolute Capital AssetPairCorr
  0.93AAMCX Absolute Capital AssetPairCorr
  1.0ACMDX Absolute Capital DefenderPairCorr
  1.0ACMAX Absolute Capital DefenderPairCorr
  0.92PAALX All Asset FundPairCorr
  0.92PATRX Pimco All AssetPairCorr
  0.92PAAIX All Asset FundPairCorr
  0.92PALPX Pimco All AssetPairCorr
  0.92PASAX All Asset FundPairCorr
  0.92PASCX All Asset FundPairCorr
  0.92PAANX Pimco All AssetPairCorr
  0.91PAUPX Pimco All AssetPairCorr
  0.91PAUIX Pimco All AssetPairCorr
  0.88WARRX Wells Fargo AdvantagePairCorr
  0.89PDI Pimco Dynamic IncomePairCorr
  0.98JMOSX Janus Global AllocationPairCorr
  0.82WHGQX Westwood Quality ValuePairCorr
  0.98FRBUX Fidelity Freedom IndexPairCorr
  0.9PSHYX Pioneer Short TermPairCorr
  0.91MARFX Blackrock Mdcp ValPairCorr
  0.9FGPMX Franklin Gold And Steady GrowthPairCorr
  0.89UIPMX Precious Metals AndPairCorr
  0.88IVOCX Ivy Mid CapPairCorr
  0.91BRASX Bats Series SPairCorr
  0.87GOBAX Legg Mason BwPairCorr
  0.74ILGJX Columbia Integrated LargePairCorr
  0.91TFTIX Tiaa Cref LifecyclePairCorr
  0.83FCMQX Fidelity CaliforniaPairCorr

Moving against Absolute Mutual Fund

  0.76TCTGX Transamerica CleartrackPairCorr
  0.39USPSX Profunds UltrashortPairCorr
  0.98UIPIX Ultrashort Mid CapPairCorr
  0.8CESGX Coho Relative ValuePairCorr
  0.77TCSUX Cleartrack 2020 ClassPairCorr
  0.76TDKTX Cleartrack 2015 ClassPairCorr
  0.76TCTJX Transamerica CleartrackPairCorr
  0.36USPIX Profunds UltrashortPairCorr

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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