Ab Municipal Correlations

AUNTX Fund

USD 10.75 0.01 0.09%

The current 90-days correlation between Ab Municipal Bond and Wells Fargo Advantage is 0.25 (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

Modest diversification

The correlation between Ab Municipal Bond and DJI is 0.27 (i.e., Modest 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

0.72	GCEAX	Ab Global E	Pair Corr
0.7	GCECX	Ab Global E	Pair Corr
0.72	GCEYX	Ab Global E	Pair Corr
0.82	AMTAX	Ab All Market	Pair Corr
0.79	AMTZX	Ab All Market	Pair Corr
0.82	AMTYX	Ab All Market	Pair Corr
0.79	AMTOX	Ab All Market	Pair Corr
0.65	APGZX	Ab Large Cap	Pair Corr
0.65	APGYX	Ab Large Cap	Pair Corr
0.66	APGAX	Ab Large Cap	Pair Corr

Related Correlations Analysis

	WARDX	NHMRX	444859BR2	AQUI	BRRAY	MSTSX	ABHYX	LBHIX	SCAXF	VIASP
WARDX		-0.23	-0.21	0.0	-0.56	0.74	0.51	0.43	0.23	-0.35	WARDX
NHMRX	-0.23		0.71	0.0	0.32	-0.67	0.19	-0.38	0.01	-0.15	NHMRX
444859BR2	-0.21	0.71		0.0	0.21	-0.63	-0.02	-0.58	0.24	-0.31	444859BR2
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.56	0.32	0.21	0.0		-0.51	-0.43	-0.41	-0.02	0.09	BRRAY
MSTSX	0.74	-0.67	-0.63	0.0	-0.51		0.33	0.69	0.02	-0.12	MSTSX
ABHYX	0.51	0.19	-0.02	0.0	-0.43	0.33		0.56	-0.02	-0.22	ABHYX
LBHIX	0.43	-0.38	-0.58	0.0	-0.41	0.69	0.56		-0.21	0.13	LBHIX
SCAXF	0.23	0.01	0.24	0.0	-0.02	0.02	-0.02	-0.21		-0.75	SCAXF
VIASP	-0.35	-0.15	-0.31	0.0	0.09	-0.12	-0.22	0.13	-0.75		VIASP
	WARDX	NHMRX	444859BR2	AQUI	BRRAY	MSTSX	ABHYX	LBHIX	SCAXF	VIASP

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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

MSTSX	+ 0.74	WARDX
444859BR2	+ 0.71	NHMRX
LBHIX	+ 0.69	MSTSX
LBHIX	+ 0.56	ABHYX
ABHYX	+ 0.51	WARDX
LBHIX	+ 0.43	WARDX

High negative correlations

VIASP	- 0.75	SCAXF
MSTSX	- 0.67	NHMRX
MSTSX	- 0.63	444859BR2
LBHIX	- 0.58	444859BR2
BRRAY	- 0.56	WARDX
MSTSX	- 0.51	BRRAY

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
WARDX	0.31	(0.01)	(0.28)	0.27	0.39	(0.31)	0.60	(0.67)	1.87
NHMRX	0.25	0.00	0.00	0.12	0.00	0.00	0.61	(0.59)	2.35
444859BR2	1.31	(0.03)	0.00	0.36	0.00	0.00	5.93	(4.50)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.11)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	0.04	(0.11)	(0.30)	0.52	(0.59)	1.21	(1.02)	2.80
ABHYX	0.16	0.00	(0.20)	0.08	0.26	(0.24)	0.34	(0.33)	1.91
LBHIX	0.11	0.01	(0.32)	0.44	0.00	(0.29)	0.24	(0.24)	0.96
SCAXF	0.70	(0.40)	0.00	(1.01)	0.00	0.00	0.00	0.00	23.47
VIASP	0.74	0.11	0.01	(3.65)	1.04	(0.83)	2.28	(1.15)	7.18

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