Aam/himco Short Correlations

ASDAX Fund

USD 9.99 0.02 0.20%

The current 90-days correlation between Aamhimco Short Duration and Aamhimco Short Duration is 0.84 (i.e., Very poor diversification). The correlation of Aam/himco 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.

Aam/himco Short Correlation With Market

Good diversification

The correlation between Aamhimco Short Duration and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aamhimco Short Duration 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 Aamhimco Short Duration. 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 Aam/himco Mutual Fund

0.98	ASDIX	Aamhimco Short Duration	Pair Corr
0.96	ASDCX	Aamhimco Short Duration	Pair Corr

Related Correlations Analysis

	ASDIX	AFNIX	AFNAX	AFYCX	CPUCX	CPUAX	CPUIX
ASDIX		0.3	0.3	0.3	0.43	0.45	0.46	ASDIX
AFNIX	0.3		1.0	1.0	-0.34	-0.31	-0.29	AFNIX
AFNAX	0.3	1.0		1.0	-0.33	-0.3	-0.29	AFNAX
AFYCX	0.3	1.0	1.0		-0.31	-0.28	-0.27	AFYCX
CPUCX	0.43	-0.34	-0.33	-0.31		1.0	1.0	CPUCX
CPUAX	0.45	-0.31	-0.3	-0.28	1.0		1.0	CPUAX
CPUIX	0.46	-0.29	-0.29	-0.27	1.0	1.0		CPUIX
	ASDIX	AFNIX	AFNAX	AFYCX	CPUCX	CPUAX	CPUIX

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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

AFNAX	+ 1.0	AFNIX
AFYCX	+ 1.0	AFNIX
AFYCX	+ 1.0	AFNAX
CPUAX	+ 1.0	CPUCX
CPUIX	+ 1.0	CPUCX
CPUIX	+ 1.0	CPUAX

High negative correlations

CPUCX	- 0.34	AFNIX
CPUCX	- 0.33	AFNAX
CPUCX	- 0.31	AFYCX
CPUAX	- 0.31	AFNIX
CPUAX	- 0.3	AFNAX
CPUIX	- 0.29	AFNAX

Risk-Adjusted Indicators

There is a big difference between Aam/himco Mutual Fund performing well and Aam/himco 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 Aam/himco 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
ASDIX	0.06	0.00	(0.82)	0.20	0.05	(0.11)	0.10	(0.10)	0.40
AFNIX	0.50	(0.03)	(0.11)	0.08	0.51	(0.56)	1.09	(0.88)	2.58
AFNAX	0.50	(0.03)	(0.11)	0.08	0.51	(0.56)	1.09	(0.88)	2.54
AFYCX	0.50	(0.03)	(0.11)	0.08	0.52	(0.56)	1.11	(0.89)	2.61
CPUCX	0.23	(0.03)	0.00	0.59	0.00	0.00	0.43	(0.54)	1.29
CPUAX	0.24	(0.02)	0.00	0.56	0.00	0.00	0.43	(0.54)	1.29
CPUIX	0.22	(0.03)	0.00	0.73	0.00	0.00	0.33	(0.54)	1.29

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