Ab New Correlations

ANJAX Fund

USD 9.17 0.01 0.11%

The correlation of Ab New 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 New Correlation With Market

Average diversification

The correlation between Ab New Jersey and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab New Jersey 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 New Jersey. 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 nation.

Moving together with ANJAX Mutual Fund

0.98	AMNCX	Ab Minnesota Portfolio	Pair Corr
0.94	AMNAX	Ab Minnesota Portfolio	Pair Corr
0.83	ANAZX	Ab Global Bond	Pair Corr
0.89	ANAYX	Ab Global Bond	Pair Corr
0.84	ANAGX	Ab Global Bond	Pair Corr
0.82	ANAIX	Ab Global Bond	Pair Corr
0.79	ANACX	Ab Global Bond	Pair Corr
0.78	ANBIX	Ab Bond Inflation	Pair Corr
0.94	ANIAX	New York Municipal	Pair Corr
0.99	ANJCX	Ab New Jersey	Pair Corr
0.94	ANIYX	New York Municipal	Pair Corr
0.97	ANMCX	New York Municipal	Pair Corr
0.99	ANYCX	Ab New York	Pair Corr
0.87	STHAX	Ab Sustainable Thematic	Pair Corr
0.82	STHYX	Ab Sustainable Thematic	Pair Corr
0.99	AOHAX	Ab Ohio Portfolio	Pair Corr
0.93	AOHCX	Ab Ohio Portfolio	Pair Corr
0.89	APAAX	Ab Pennsylvania Portfolio	Pair Corr
0.91	APACX	Ab Pennsylvania Portfolio	Pair Corr

Moving against ANJAX Mutual Fund

0.42	SCAVX	Ab Small Cap	Pair Corr
0.41	SCCVX	Ab Small Cap	Pair Corr
0.32	SCRSX	Small Cap Core	Pair Corr
0.32	SCRYX	Small Cap Core	Pair Corr
0.32	SCRZX	Small Cap Core	Pair Corr
0.43	APGAX	Ab Large Cap	Pair Corr
0.42	SCYVX	Ab Small Cap	Pair Corr
0.41	APGZX	Ab Large Cap	Pair Corr
0.41	APGYX	Ab Large Cap	Pair Corr
0.4	APGCX	Ab Large Cap	Pair Corr
0.32	CHCLX	Ab Discovery Growth	Pair Corr

Related Correlations Analysis

	SPAXX	JGIFX	ICAXX	FISAX	RYAQX
SPAXX		0.0	0.0	0.0	0.0	SPAXX
JGIFX	0.0		0.0	0.32	-0.96	JGIFX
ICAXX	0.0	0.0		0.0	0.0	ICAXX
FISAX	0.0	0.32	0.0		-0.09	FISAX
RYAQX	0.0	-0.96	0.0	-0.09		RYAQX
	SPAXX	JGIFX	ICAXX	FISAX	RYAQX

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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

FISAX	+ 0.32	JGIFX
JGIFX	+ 0.0	SPAXX
ICAXX	+ 0.0	SPAXX
FISAX	+ 0.0	SPAXX
RYAQX	+ 0.0	SPAXX
ICAXX	+ 0.0	JGIFX

High negative correlations

RYAQX	- 0.96	JGIFX
RYAQX	- 0.09	FISAX
RYAQX	- 0.0	ICAXX
FISAX	- 0.0	ICAXX
ICAXX	- 0.0	JGIFX
RYAQX	- 0.0	SPAXX

Risk-Adjusted Indicators

There is a big difference between ANJAX Mutual Fund performing well and Ab New 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 New'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
SPAXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JGIFX	0.24	(0.04)	0.00	(0.73)	0.00	0.00	0.50	(0.51)	1.41
ICAXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FISAX	0.08	0.00	(0.51)	0.09	0.00	(0.18)	0.13	(0.13)	0.80
RYAQX	0.60	0.13	0.06	(1.89)	0.46	(0.70)	1.52	(1.16)	4.05

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