Ab Growth Correlations

Mutual Funds . USA . 
Fund . Ab Growth Fund
AGRCX Fund  USD 32.99  0.25  0.76%   
The current 90-days correlation between Ab Growth Fund and Ab Sustainable Global is 0.85 (i.e., Very poor diversification). The correlation of Ab Growth 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 Growth Correlation With Market

Poor diversification

The correlation between Ab Growth Fund and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab Growth Fund 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 Growth Fund. 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 main economic indicators.

Moving together with AGRCX Mutual Fund

  0.84SCCVX Ab Small CapPairCorr
  0.92SCRSX Small Cap CorePairCorr
  0.89SCRYX Small Cap CorePairCorr
  0.85SCYVX Ab Small CapPairCorr
  0.98APGZX Ab Large CapPairCorr
  0.98APGYX Ab Large CapPairCorr
  0.98APGAX Ab Large CapPairCorr
  0.98APGCX Ab Large CapPairCorr
  0.97CHCLX Ab Discovery GrowthPairCorr
  0.95CHCIX Ab Discovery GrowthPairCorr
  0.97CHCCX Ab Discovery GrowthPairCorr
  0.97CHCYX Ab Discovery GrowthPairCorr

Moving against AGRCX Mutual Fund

  0.71ANACX Ab Global BondPairCorr
  0.71STHAX Ab Sustainable ThematicPairCorr
  0.7ANAGX Ab Global BondPairCorr
  0.7STHYX Ab Sustainable ThematicPairCorr
  0.68ANAZX Ab Global BondPairCorr
  0.68ANAYX Ab Global BondPairCorr
  0.5AMNCX Ab Minnesota PortfolioPairCorr
  0.47ANJCX Ab New JerseyPairCorr
  0.47ANYCX Ab New YorkPairCorr
  0.46AMNAX Ab Minnesota PortfolioPairCorr
  0.44ANBIX Ab Bond InflationPairCorr
  0.42AOHAX Ab Ohio PortfolioPairCorr
  0.41ANJAX Ab New JerseyPairCorr
  0.4ANMCX New York MunicipalPairCorr
  0.59CICGX Ab Centrated InternaPairCorr
  0.58CIAGX Ab Centrated InternaPairCorr
  0.57CIGYX Ab Centrated InternaPairCorr
  0.5ARECX Ab Global RealPairCorr
  0.48AREAX Ab Global RealPairCorr
  0.48ARRRX Ab Global RealPairCorr
  0.47ARSYX Ab Global RealPairCorr
  0.44ARIIX Ab Global RealPairCorr

Related Correlations Analysis

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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   
QUASX
+ 0.96
AGRFX
QUASX
+ 0.94
CABDX
AGRFX
+ 0.93
CABDX
AWPAX
+ 0.7
ALTFX
QUASX
+ 0.26
ALTFX
CABDX
+ 0.12
ALTFX
  
High negative correlations   
AWPAX
- 0.63
AGRFX
AWPAX
- 0.57
CABDX
AWPAX
- 0.47
QUASX

Risk-Adjusted Indicators

There is a big difference between AGRCX Mutual Fund performing well and Ab Growth 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 Growth'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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