Ab New Correlations

Mutual Funds . USA . 
Fund . Ab New York
ANYCX Fund  USD 9.34  0.01  0.11%   
The current 90-days correlation between Ab New York and Franklin New York is 0.95 (i.e., Almost no diversification). 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 York and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab New York 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 York. 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 ANYCX Mutual Fund

  0.99AMNCX Ab Minnesota PortfolioPairCorr
  0.94AMNAX Ab Minnesota PortfolioPairCorr
  0.86ANAZX Ab Global BondPairCorr
  0.92ANAYX Ab Global BondPairCorr
  0.87ANAGX Ab Global BondPairCorr
  0.85ANAIX Ab Global BondPairCorr
  0.84ANACX Ab Global BondPairCorr
  0.78ANBIX Ab Bond InflationPairCorr
  0.94ANIAX New York MunicipalPairCorr
  0.99ANJAX Ab New JerseyPairCorr
  0.99ANJCX Ab New JerseyPairCorr
  0.94ANIYX New York MunicipalPairCorr
  0.97ANMCX New York MunicipalPairCorr
  0.9STHAX Ab Sustainable ThematicPairCorr
  0.85STHYX Ab Sustainable ThematicPairCorr
  0.98AOHAX Ab Ohio PortfolioPairCorr
  0.94AOHCX Ab Ohio PortfolioPairCorr
  0.85APAAX Ab Pennsylvania PortfolioPairCorr
  0.88APACX Ab Pennsylvania PortfolioPairCorr

Moving against ANYCX Mutual Fund

  0.45SCAVX Ab Small CapPairCorr
  0.45SCCVX Ab Small CapPairCorr
  0.36SCRSX Small Cap CorePairCorr
  0.49APGAX Ab Large CapPairCorr
  0.47APGYX Ab Large CapPairCorr
  0.46APGZX Ab Large CapPairCorr
  0.46APGCX Ab Large CapPairCorr
  0.45SCYVX Ab Small CapPairCorr
  0.39CHCLX Ab Discovery GrowthPairCorr
  0.39CHCIX Ab Discovery GrowthPairCorr
  0.37SCRYX Small Cap CorePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between ANYCX 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.

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