Ab High Correlations

AGDCX Fund

USD 7.16 0.01 0.14%

The current 90-days correlation between Ab High Income and Ab Global E is 0.17 (i.e., Average diversification). The correlation of Ab High 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.

Ab High Correlation With Market

Good diversification

The correlation between Ab High Income and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab High Income 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 Ab High Income. 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 unemployment.

Moving together with AGDCX Mutual Fund

0.64	GCECX	Ab Global E	Pair Corr
0.77	STEYX	International Strategic	Pair Corr
0.77	STEZX	International Strategic	Pair Corr
0.77	STESX	International Strategic	Pair Corr
0.76	SCAVX	Ab Small Cap	Pair Corr
0.78	SCCVX	Ab Small Cap	Pair Corr
0.78	SCRYX	Small Cap Core	Pair Corr
0.78	SCRZX	Small Cap Core	Pair Corr
0.78	SCYVX	Ab Small Cap	Pair Corr
0.79	APGZX	Ab Large Cap	Pair Corr
0.74	APGAX	Ab Large Cap	Pair Corr
0.79	CHCIX	Ab Discovery Growth	Pair Corr
0.79	CHCCX	Ab Discovery Growth	Pair Corr
0.79	CHCYX	Ab Discovery Growth	Pair Corr
0.77	CHCZX	Ab Discovery Growth	Pair Corr

Moving against AGDCX Mutual Fund

0.63	SUTAX	Ab Sustainable Thematic	Pair Corr
0.63	SUTCX	Ab Sustainable Thematic	Pair Corr
0.63	SUTZX	Ab Sustainable Thematic	Pair Corr
0.33	ANAZX	Ab Global Bond	Pair Corr
0.48	ABNCX	Ab Bond Inflation	Pair Corr

Related Correlations Analysis

	GCEAX	GCECX	GCEYX	AMTAX	AMTZX	AMTYX	AMTOX	ANAZX	ANAYX	ANAGX
GCEAX		0.79	1.0	0.75	0.8	0.74	0.74	-0.31	-0.31	-0.3	GCEAX
GCECX	0.79		0.79	0.58	0.52	0.57	0.57	-0.28	-0.27	-0.12	GCECX
GCEYX	1.0	0.79		0.75	0.8	0.74	0.74	-0.31	-0.31	-0.3	GCEYX
AMTAX	0.75	0.58	0.75		0.82	1.0	1.0	-0.19	-0.15	-0.21	AMTAX
AMTZX	0.8	0.52	0.8	0.82		0.82	0.82	-0.19	-0.13	-0.23	AMTZX
AMTYX	0.74	0.57	0.74	1.0	0.82		1.0	-0.19	-0.14	-0.21	AMTYX
AMTOX	0.74	0.57	0.74	1.0	0.82	1.0		-0.18	-0.14	-0.21	AMTOX
ANAZX	-0.31	-0.28	-0.31	-0.19	-0.19	-0.19	-0.18		0.95	0.89	ANAZX
ANAYX	-0.31	-0.27	-0.31	-0.15	-0.13	-0.14	-0.14	0.95		0.86	ANAYX
ANAGX	-0.3	-0.12	-0.3	-0.21	-0.23	-0.21	-0.21	0.89	0.86		ANAGX
	GCEAX	GCECX	GCEYX	AMTAX	AMTZX	AMTYX	AMTOX	ANAZX	ANAYX	ANAGX

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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

GCEYX	+ 1.0	GCEAX
AMTYX	+ 1.0	AMTAX
AMTOX	+ 1.0	AMTAX
AMTOX	+ 1.0	AMTYX
ANAYX	+ 0.95	ANAZX
ANAGX	+ 0.89	ANAZX

High negative correlations

ANAYX	- 0.31	GCEYX
ANAZX	- 0.31	GCEYX
ANAYX	- 0.31	GCEAX
ANAZX	- 0.31	GCEAX
ANAGX	- 0.3	GCEYX
ANAGX	- 0.3	GCEAX

Risk-Adjusted Indicators

There is a big difference between AGDCX Mutual Fund performing well and Ab High 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 Ab High'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
GCEAX	0.68	0.21	0.18	1.46	0.40	(0.84)	1.28	(1.21)	9.96
GCECX	0.71	0.21	0.13	(0.85)	0.55	(0.86)	1.32	(1.28)	10.31
GCEYX	0.68	0.21	0.18	1.41	0.35	(0.85)	1.30	(1.21)	9.97
AMTAX	0.50	0.04	0.00	0.17	0.57	(0.54)	1.00	(0.98)	2.51
AMTZX	0.52	0.07	0.00	0.61	0.59	(0.56)	1.03	(1.01)	2.57
AMTYX	0.52	0.04	0.00	0.17	0.62	(0.54)	1.01	(0.99)	2.71
AMTOX	0.52	0.04	0.00	0.17	0.58	(0.57)	1.04	(1.03)	2.59
ANAZX	0.09	(0.01)	0.00	(4.91)	0.00	0.00	0.14	(0.14)	0.57
ANAYX	0.10	(0.01)	0.00	4.72	0.00	0.00	0.14	(0.29)	0.57
ANAGX	0.10	0.00	(0.41)	(0.29)	0.08	(0.17)	0.14	(0.29)	0.57

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