Alliancebernstein Correlations

AFB Fund

USD 11.01 0.02 0.18%

The current 90-days correlation between Alliancebernstein and Eaton Vance Short is 0.17 (i.e., Average diversification). The correlation of Alliancebernstein 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.

Alliancebernstein Correlation With Market

Modest diversification

The correlation between Alliancebernstein National Mun and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alliancebernstein National Mun 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 Alliancebernstein National Municipal. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Alliancebernstein Fund

0.71	PHK	Pimco High Income	Pair Corr
0.84	NEA	Nuveen Amt Free	Pair Corr
0.65	DNP	Dnp Select Income	Pair Corr

Moving against Alliancebernstein Fund

0.63	BXSL	Blackstone Secured	Pair Corr
0.62	RYIFX	Guggenheim Managed	Pair Corr
0.62	DAMDX	Dunham Monthly Distr	Pair Corr
0.57	CUSBX	Columbia Ultra Short	Pair Corr
0.53	AOUIX	Angel Oak Ultrashort	Pair Corr
0.51	SUSAX	Siit Ultra Short	Pair Corr
0.49	BXMYX	Blackstone Alternative	Pair Corr
0.49	XHGLX	Highland Global Allo	Pair Corr
0.43	IIXIX	Catalyst Insider Income	Pair Corr
0.43	CEARX	Columbia Acorn	Pair Corr
0.37	MWATX	Metropolitan West Alpha	Pair Corr
0.33	BTCYX	Cboe Vest Bitcoin Steady Growth	Pair Corr
0.33	VWTKX	Tomorrows Scholar College	Pair Corr
0.65	BTTRX	Zero Pon 2025	Pair Corr
0.62	EIDOX	Eaton Vance Emerging	Pair Corr
0.55	LARCX	Floating Rate	Pair Corr
0.51	TSDCX	Touchstone Ultra Short	Pair Corr
0.5	GSFRX	Goldman Sachs High	Pair Corr
0.5	0P0001GXZ7	Oaktree (lux)	Pair Corr
0.48	QLERX	Aqr Long Short	Pair Corr
0.47	BXMDX	Blackstone Alternative	Pair Corr
0.42	QSPRX	Aqr Style Premia	Pair Corr
0.39	CNEIX	Alger Concentrated Equity	Pair Corr

Related Correlations Analysis

	EVG	ACV	ARDC	KTF	BBUC	ASXSF	MVT	MFV	AWP	AOD
EVG		0.31	0.22	0.41	0.42	-0.08	0.39	-0.18	0.31	0.16	EVG
ACV	0.31		0.8	0.08	0.31	-0.49	-0.08	-0.18	-0.31	-0.2	ACV
ARDC	0.22	0.8		0.07	0.2	-0.44	0.0	-0.03	-0.2	-0.11	ARDC
KTF	0.41	0.08	0.07		0.83	0.3	0.91	-0.21	0.75	0.45	KTF
BBUC	0.42	0.31	0.2	0.83		0.05	0.76	-0.41	0.59	0.36	BBUC
ASXSF	-0.08	-0.49	-0.44	0.3	0.05		0.4	0.22	0.54	0.46	ASXSF
MVT	0.39	-0.08	0.0	0.91	0.76	0.4		-0.01	0.83	0.68	MVT
MFV	-0.18	-0.18	-0.03	-0.21	-0.41	0.22	-0.01		-0.07	0.33	MFV
AWP	0.31	-0.31	-0.2	0.75	0.59	0.54	0.83	-0.07		0.76	AWP
AOD	0.16	-0.2	-0.11	0.45	0.36	0.46	0.68	0.33	0.76		AOD
	EVG	ACV	ARDC	KTF	BBUC	ASXSF	MVT	MFV	AWP	AOD

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MVT	+ 0.91	KTF
BBUC	+ 0.83	KTF
AWP	+ 0.83	MVT
ARDC	+ 0.8	ACV
MVT	+ 0.76	BBUC
AOD	+ 0.76	AWP

High negative correlations

ASXSF	- 0.49	ACV
ASXSF	- 0.44	ARDC
MFV	- 0.41	BBUC
AWP	- 0.31	ACV
MFV	- 0.21	KTF
AWP	- 0.2	ARDC

Risk-Adjusted Indicators

There is a big difference between Alliancebernstein Fund performing well and Alliancebernstein 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 Alliancebernstein'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
EVG	0.46	0.01	(0.02)	(0.06)	0.63	(0.47)	0.93	(1.08)	3.21
ACV	0.76	0.08	0.08	0.27	0.80	(0.86)	1.69	(1.31)	4.71
ARDC	0.45	0.01	(0.01)	0.10	0.54	(0.47)	1.08	(0.98)	2.70
KTF	0.50	(0.07)	0.00	(0.29)	0.00	0.00	1.13	(1.19)	3.43
BBUC	1.60	(0.15)	0.00	(0.17)	0.00	0.00	2.73	(3.44)	10.06
ASXSF	3.14	(0.24)	0.00	(1.75)	0.00	0.00	9.52	(12.00)	33.04
MVT	0.56	(0.07)	0.00	(0.21)	0.00	0.00	1.18	(1.19)	2.90
MFV	0.68	(0.03)	0.00	1.86	0.00	0.00	1.95	(1.21)	4.79
AWP	1.07	(0.08)	0.00	(0.12)	0.00	0.00	1.95	(1.83)	8.22
AOD	0.55	(0.03)	0.00	(0.12)	0.00	0.00	1.16	(0.94)	3.05

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