Ab Municipal Correlations

Mutual Funds . USA . 
Fund . Ab Municipal Bond
AUNCX Fund  USD 10.76  0.03  0.28%   
The current 90-days correlation between Ab Municipal Bond and Glg Intl Small is 0.23 (i.e., Modest 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 0.09 (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

  0.7GCEAX Ab Global EPairCorr
  0.69GCECX Ab Global EPairCorr
  0.7GCEYX Ab Global EPairCorr
  0.79AMNCX Ab Minnesota PortfolioPairCorr
  0.74AMNAX Ab Minnesota PortfolioPairCorr
  0.68AMTAX Ab All MarketPairCorr
  0.68AMTZX Ab All MarketPairCorr
  0.68AMTYX Ab All MarketPairCorr
  0.68AMTOX Ab All MarketPairCorr
  0.67ANAZX Ab Global BondPairCorr
  0.68ANAYX Ab Global BondPairCorr
  0.67ANAGX Ab Global BondPairCorr
  0.68ANAIX Ab Global BondPairCorr
  0.68ANACX Ab Global BondPairCorr
  0.75ANBIX Ab Bond InflationPairCorr
  0.78ANIAX New York MunicipalPairCorr
  0.8ANJAX Ab New JerseyPairCorr
  0.8ANJCX Ab New JerseyPairCorr
  0.77ANIYX New York MunicipalPairCorr
  0.82ANMCX New York MunicipalPairCorr
  0.83ANYCX Ab New YorkPairCorr
  0.71STHAX Ab Sustainable ThematicPairCorr
  0.69STHYX Ab Sustainable ThematicPairCorr
  0.77AOHAX Ab Ohio PortfolioPairCorr
  0.79AOHCX Ab Ohio PortfolioPairCorr
  0.78SCAVX Ab Small CapPairCorr
  0.77SCCVX Ab Small CapPairCorr
  0.83APAAX Ab Pennsylvania PortfolioPairCorr
  0.81APACX Ab Pennsylvania PortfolioPairCorr
  0.62SCRSX Small Cap CorePairCorr
  0.62SCRYX Small Cap CorePairCorr
  0.62SCRZX Small Cap CorePairCorr
  0.78SCYVX Ab Small CapPairCorr
  0.76APGZX Ab Large CapPairCorr
  0.71APGYX Ab Large CapPairCorr
  0.69APGAX Ab Large CapPairCorr

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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