Ab Municipal Correlations

Mutual Funds . USA . 
Fund . Ab Municipal Bond
AUNTX Fund  USD 10.72  0.01  0.09%   
The current 90-days correlation between Ab Municipal Bond and Multisector Bond Sma is 0.44 (i.e., Very weak 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

Average diversification

The correlation between Ab Municipal Bond and DJI is 0.13 (i.e., Average 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 estimate.

Moving together with AUNTX Mutual Fund

  0.62GCEAX Ab Global EPairCorr
  0.61GCECX Ab Global EPairCorr
  0.62GCEYX Ab Global EPairCorr
  0.72AMNCX Ab Minnesota PortfolioPairCorr
  0.69AMNAX Ab Minnesota PortfolioPairCorr
  0.64AMTAX Ab All MarketPairCorr
  0.65AMTZX Ab All MarketPairCorr
  0.64AMTYX Ab All MarketPairCorr
  0.64AMTOX Ab All MarketPairCorr
  0.62ANAZX Ab Global BondPairCorr
  0.64ANAYX Ab Global BondPairCorr
  0.62ANAGX Ab Global BondPairCorr
  0.64ANAIX Ab Global BondPairCorr
  0.63ANACX Ab Global BondPairCorr
  0.72ANBIX Ab Bond InflationPairCorr
  0.78ANIAX New York MunicipalPairCorr
  0.76ANJAX Ab New JerseyPairCorr
  0.75ANJCX Ab New JerseyPairCorr
  0.77ANIYX New York MunicipalPairCorr
  0.8ANMCX New York MunicipalPairCorr
  0.77ANYCX Ab New YorkPairCorr
  0.61STHAX Ab Sustainable ThematicPairCorr
  0.72AOHAX Ab Ohio PortfolioPairCorr
  0.73AOHCX Ab Ohio PortfolioPairCorr
  0.75SCAVX Ab Small CapPairCorr
  0.74SCCVX Ab Small CapPairCorr
  0.79APAAX Ab Pennsylvania PortfolioPairCorr
  0.76APACX Ab Pennsylvania PortfolioPairCorr
  0.75SCYVX Ab Small CapPairCorr
  0.71APGZX Ab Large CapPairCorr
  0.67APGYX Ab Large CapPairCorr
  0.63APGAX Ab Large CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between AUNTX 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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