Ancora Microcap Correlations

ANCIX Fund

USD 17.84 0.13 0.73%

The current 90-days correlation between Ancora Microcap and Ancora Income Fund is 0.3 (i.e., Weak diversification). The correlation of Ancora Microcap 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.

Ancora Microcap Correlation With Market

Poor diversification

The correlation between Ancora Microcap Fund and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ancora Microcap 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 Ancora Microcap 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 gross domestic product.

Moving together with Ancora Mutual Fund

0.93	AATSX	Ancora/thelen Small-mid	Pair Corr
0.93	AATIX	Ancora/thelen Small-mid	Pair Corr
0.75	ADEIX	Proxy Voting Where	Pair Corr
0.94	VSIIX	Vanguard Small Cap	Pair Corr
0.94	VISVX	Vanguard Small Cap	Pair Corr
0.97	DFSVX	Us Small Cap	Pair Corr
0.97	DFFVX	Us Targeted Value	Pair Corr
0.97	UBVCX	Undiscovered Managers	Pair Corr
0.97	UBVAX	Undiscovered Managers	Pair Corr
0.97	UBVSX	Undiscovered Managers	Pair Corr
0.97	AVFIX	American Beacon Small	Pair Corr
0.62	CAACX	Calvert Aggressive	Pair Corr
0.88	SCRYX	Small Cap Core	Pair Corr
0.71	VLCGX	Large Capital Growth	Pair Corr
0.77	RFNBX	American Funds Funda	Pair Corr
0.78	JILGX	Multimanager Lifestyle	Pair Corr
0.88	VMCIX	Vanguard Mid Cap	Pair Corr
0.92	WWLAX	Westwood Largecap Value	Pair Corr
0.85	SSIAX	1919 Socially Responsive	Pair Corr
0.78	FINFX	American Funds Funda	Pair Corr

Moving against Ancora Mutual Fund

0.66	GPBFX	Gmo E Plus	Pair Corr
0.45	GAAKX	Gmo Alternative Allo	Pair Corr
0.43	GAAGX	Gmo Alternative Allo	Pair Corr
0.36	GPMFX	Guidepath Managed Futures	Pair Corr

Related Correlations Analysis

	ANCIX	AAIIX	AATSX	AATIX	ADEIX
ANCIX		0.32	0.93	0.93	0.75	ANCIX
AAIIX	0.32		0.54	0.54	0.73	AAIIX
AATSX	0.93	0.54		1.0	0.84	AATSX
AATIX	0.93	0.54	1.0		0.84	AATIX
ADEIX	0.75	0.73	0.84	0.84		ADEIX
	ANCIX	AAIIX	AATSX	AATIX	ADEIX

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Risk-Adjusted Indicators

There is a big difference between Ancora Mutual Fund performing well and Ancora Microcap 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 Ancora Microcap'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
ANCIX	0.78	(0.05)	(0.05)	0.07	0.74	(0.92)	2.09	(1.21)	3.94
AAIIX	0.22	0.02	(0.27)	0.30	0.09	(0.29)	0.42	(0.41)	1.22
AATSX	0.79	0.04	0.06	0.15	0.74	(0.87)	2.10	(1.37)	4.86
AATIX	0.79	0.04	0.06	0.15	0.72	(0.86)	2.10	(1.32)	4.78
ADEIX	0.53	0.10	(0.03)	7.03	0.46	(0.59)	1.12	(0.87)	3.56

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