Ab Municipal Correlations

Mutual Funds . USA . 
Fund . Ab Municipal Bond
AUNCX Fund  USD 10.82  0.01  0.09%   
The current 90-days correlation between Ab Municipal Bond and Transamerica Asset Allocation is 0.14 (i.e., Average diversification). The correlation of Ab Municipal 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 Municipal Correlation With Market

Significant diversification

The correlation between Ab Municipal Bond and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab Municipal Bond 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 Municipal Bond. 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 AUNCX Mutual Fund

  0.85GCEAX Ab Global EPairCorr
  0.84GCECX Ab Global EPairCorr
  0.85GCEYX Ab Global EPairCorr
  0.88AMTAX Ab All MarketPairCorr
  0.89AMTZX Ab All MarketPairCorr
  0.88AMTYX Ab All MarketPairCorr
  0.88AMTOX Ab All MarketPairCorr
  0.67ANAZX Ab Global BondPairCorr
  0.69ANAYX Ab Global BondPairCorr
  0.7ANAGX Ab Global BondPairCorr
  0.68ANAIX Ab Global BondPairCorr
  0.68ANACX Ab Global BondPairCorr
  0.9ANBIX Ab Bond InflationPairCorr
  0.8ANIAX New York MunicipalPairCorr
  0.8ANIYX New York MunicipalPairCorr
  0.75ANMCX New York MunicipalPairCorr
  0.77STEYX International StrategicPairCorr
  0.77STEZX International StrategicPairCorr
  0.77STESX International StrategicPairCorr
  0.61STHAX Ab Sustainable ThematicPairCorr
  0.71STHYX Ab Sustainable ThematicPairCorr
  0.67APAAX Ab Pennsylvania PortfolioPairCorr
  0.63APACX Ab Pennsylvania PortfolioPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between AUNCX Mutual Fund performing well and Ab Municipal 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 Municipal'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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