Api Multi Correlations

APIIX Fund

USD 9.25 0.01 0.11%

The current 90-days correlation between Api Multi Asset and Janus Global Technology is 0.1 (i.e., Average diversification). The correlation of Api Multi 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 Multi Correlation With Market

Weak diversification

The correlation between Api Multi Asset Income and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Api Multi Asset Income 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 Multi Asset Income. 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 Api Mutual Fund

0.86	APIBX	Api Short Term	Pair Corr
0.97	APIUX	Api Multi Asset	Pair Corr
0.91	APIMX	Api Short Term	Pair Corr
0.89	AFFIX	Api Multi Asset	Pair Corr
0.89	AFFCX	Api Multi Asset	Pair Corr
0.84	AFMMX	Api Short Term	Pair Corr
0.87	PONAX	Pimco Income	Pair Corr
0.9	PONCX	Pimco Income	Pair Corr
0.87	PIPNX	Pimco Income	Pair Corr
0.89	PONRX	Pimco Income	Pair Corr
0.85	PONPX	Pimco Incme Fund	Pair Corr
0.88	PIINX	Pimco Income	Pair Corr
0.87	PIMIX	Pimco Income	Pair Corr
0.84	LBNDX	Lord Abbett Bond	Pair Corr
0.79	FSTAX	Fidelity Advisor Str	Pair Corr
0.88	FSRIX	Fidelity Advisor Str	Pair Corr
0.75	MGGYX	Mirova Global Green	Pair Corr
0.75	HLDIX	Hartford Emerging	Pair Corr
0.76	HLDRX	Hartford Emerging	Pair Corr
0.72	HLDAX	Hartford Emerging	Pair Corr
0.76	HLDCX	Hartford Emerging	Pair Corr
0.75	HLDTX	Hartford Emerging	Pair Corr
0.8	FTHRX	Fidelity Intermediate	Pair Corr
0.86	DPIGX	Intermediate Government	Pair Corr
0.65	VYRDX	Vy Columbia Small	Pair Corr
0.8	GGTPX	Goldman Sachs Government	Pair Corr
0.73	AVAYX	Ab Virginia Portfolio	Pair Corr
0.7	BMEAX	Blackrock High Equity	Pair Corr

Related Correlations Analysis

	JNGTX	TEFQX	HTECX	ICTEX	DTEYX	RAGTX
JNGTX		-0.05	0.93	0.81	0.96	0.57	JNGTX
TEFQX	-0.05		-0.12	-0.35	0.0	0.37	TEFQX
HTECX	0.93	-0.12		0.85	0.96	0.42	HTECX
ICTEX	0.81	-0.35	0.85		0.84	0.38	ICTEX
DTEYX	0.96	0.0	0.96	0.84		0.59	DTEYX
RAGTX	0.57	0.37	0.42	0.38	0.59		RAGTX
	JNGTX	TEFQX	HTECX	ICTEX	DTEYX	RAGTX

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

DTEYX	+ 0.96	JNGTX
DTEYX	+ 0.96	HTECX
HTECX	+ 0.93	JNGTX
ICTEX	+ 0.85	HTECX
DTEYX	+ 0.84	ICTEX
ICTEX	+ 0.81	JNGTX

High negative correlations

ICTEX	- 0.35	TEFQX
HTECX	- 0.12	TEFQX
TEFQX	- 0.05	JNGTX
DTEYX	- 0.0	TEFQX

Risk-Adjusted Indicators

There is a big difference between Api Mutual Fund performing well and Api Multi 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 Multi'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
JNGTX	1.17	0.20	0.12	0.23	1.28	(1.21)	2.42	(2.70)	19.25
TEFQX	1.48	(0.18)	0.00	(0.04)	0.00	0.00	2.85	(4.32)	8.44
HTECX	1.35	0.34	0.24	0.38	0.99	(1.59)	1.85	(2.12)	28.96
ICTEX	1.35	0.36	0.29	0.29	0.89	(1.71)	1.85	(2.32)	30.28
DTEYX	1.21	0.14	0.09	0.18	1.50	(1.24)	2.32	(2.47)	12.28
RAGTX	1.14	0.12	0.03	1.02	1.63	(1.05)	2.63	(2.89)	6.77

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