Api Short Correlations

APIBX Fund

USD 4.22 0.01 0.24%

The current 90-days correlation between Api Short Term and Steward Select Bond is 0.65 (i.e., Poor diversification). The correlation of Api Short 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.

Api Short Correlation With Market

Good diversification

The correlation between Api Short Term and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Api Short Term 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 Api Short Term. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Api Mutual Fund

0.84	VFSUX	Vanguard Short Term	Pair Corr
0.87	VFSIX	Vanguard Short Term	Pair Corr
0.87	VFSTX	Vanguard Short Term	Pair Corr
0.84	VBITX	Vanguard Short Term	Pair Corr
0.7	VBISX	Vanguard Short Term	Pair Corr
0.77	VSCSX	Vanguard Short Term	Pair Corr
0.68	LALDX	Lord Abbett Short	Pair Corr
0.73	LDLAX	Lord Abbett Short	Pair Corr
0.73	LDLRX	Lord Abbett Short	Pair Corr
0.74	JNJ	Johnson Johnson	Pair Corr
0.75	WMT	Walmart Common Stock	Pair Corr
0.7	AA	Alcoa Corp	Pair Corr
0.76	MCD	McDonalds	Pair Corr
0.64	BAC	Bank of America	Pair Corr
0.7	MRK	Merck Company	Pair Corr

Moving against Api Mutual Fund

0.45	CVX	Chevron Corp	Pair Corr
0.43	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	SEAKX	SVARX	FLC	FLDOX	WIORX	TBCUX	NWGPX	SIHPX	EHI	NWKEX
SEAKX		0.13	-0.06	0.15	0.52	0.1	0.2	0.15	0.07	0.21	SEAKX
SVARX	0.13		-0.39	0.65	0.45	0.51	0.38	0.47	-0.03	0.38	SVARX
FLC	-0.06	-0.39		0.07	-0.35	0.11	0.32	0.01	0.36	0.32	FLC
FLDOX	0.15	0.65	0.07		0.11	0.94	0.8	0.66	0.32	0.8	FLDOX
WIORX	0.52	0.45	-0.35	0.11		0.02	-0.1	0.11	-0.45	-0.09	WIORX
TBCUX	0.1	0.51	0.11	0.94	0.02		0.81	0.59	0.31	0.82	TBCUX
NWGPX	0.2	0.38	0.32	0.8	-0.1	0.81		0.5	0.5	1.0	NWGPX
SIHPX	0.15	0.47	0.01	0.66	0.11	0.59	0.5		0.54	0.51	SIHPX
EHI	0.07	-0.03	0.36	0.32	-0.45	0.31	0.5	0.54		0.5	EHI
NWKEX	0.21	0.38	0.32	0.8	-0.09	0.82	1.0	0.51	0.5		NWKEX
	SEAKX	SVARX	FLC	FLDOX	WIORX	TBCUX	NWGPX	SIHPX	EHI	NWKEX

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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

NWKEX	+ 1.0	NWGPX
TBCUX	+ 0.94	FLDOX
NWKEX	+ 0.82	TBCUX
NWGPX	+ 0.81	TBCUX
NWGPX	+ 0.8	FLDOX
NWKEX	+ 0.8	FLDOX

High negative correlations

EHI	- 0.45	WIORX
FLC	- 0.39	SVARX
WIORX	- 0.35	FLC
NWGPX	- 0.1	WIORX
NWKEX	- 0.09	WIORX
FLC	- 0.06	SEAKX

Risk-Adjusted Indicators

There is a big difference between Api Mutual Fund performing well and Api Short 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 Api Short'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
SEAKX	0.15	0.00	(0.22)	0.01	0.15	(0.17)	0.31	(0.31)	0.83
SVARX	0.13	(0.02)	0.00	(0.13)	0.00	0.00	0.21	(0.21)	2.44
FLC	0.32	(0.01)	0.00	0.47	0.00	0.00	0.58	(0.68)	1.56
FLDOX	0.35	0.02	0.01	0.09	0.35	(0.40)	0.72	(0.64)	3.03
WIORX	0.10	0.00	0.00	0.00	0.00	0.00	0.22	(0.11)	1.31
TBCUX	0.58	0.09	0.13	0.16	0.47	(0.69)	1.08	(1.06)	7.68
NWGPX	1.57	0.52	0.56	0.47	0.26	(2.24)	2.15	(1.49)	39.73
SIHPX	0.11	0.00	(0.27)	0.02	0.05	(0.19)	0.20	(0.20)	0.81
EHI	0.42	0.00	(0.07)	0.04	0.43	(0.52)	1.11	(0.94)	3.19
NWKEX	1.46	0.44	0.48	0.41	0.37	(2.07)	2.22	(1.47)	34.74

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