Ab International Correlations

AWPIX Fund

USD 20.52 0.09 0.44%

The current 90-days correlation between Ab International Growth and Franklin Emerging Market is 0.45 (i.e., Very weak diversification). The correlation of Ab International 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 International Correlation With Market

Very weak diversification

The correlation between Ab International Growth and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab International Growth 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 International Growth. 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 gross domestic product.

Moving together with AWPIX Mutual Fund

0.87	GCEAX	Ab Global E	Pair Corr
0.88	GCECX	Ab Global E	Pair Corr
0.87	GCEYX	Ab Global E	Pair Corr
0.78	AMTAX	Ab All Market	Pair Corr
0.78	AMTZX	Ab All Market	Pair Corr
0.78	AMTYX	Ab All Market	Pair Corr
0.79	AMTOX	Ab All Market	Pair Corr
0.67	ANBIX	Ab Bond Inflation	Pair Corr
0.76	STEYX	International Strategic	Pair Corr
0.76	STEZX	International Strategic	Pair Corr
0.76	STESX	International Strategic	Pair Corr
0.7	STHAX	Ab Sustainable Thematic	Pair Corr
0.67	STHYX	Ab Sustainable Thematic	Pair Corr
0.64	SCRSX	Small Cap Core	Pair Corr
0.64	SCRYX	Small Cap Core	Pair Corr
0.64	SCRZX	Small Cap Core	Pair Corr
0.61	APGAX	Ab Large Cap	Pair Corr
0.68	APGCX	Ab Large Cap	Pair Corr

Related Correlations Analysis

	FEMDX	LOTCX	IGIEX	BXECX	SRWAX	AMTOX	FGWMX
FEMDX		0.54	0.56	0.5	0.41	0.29	0.78	FEMDX
LOTCX	0.54		0.06	-0.22	-0.26	-0.38	0.32	LOTCX
IGIEX	0.56	0.06		0.69	0.77	0.42	0.9	IGIEX
BXECX	0.5	-0.22	0.69		0.86	0.81	0.68	BXECX
SRWAX	0.41	-0.26	0.77	0.86		0.82	0.64	SRWAX
AMTOX	0.29	-0.38	0.42	0.81	0.82		0.35	AMTOX
FGWMX	0.78	0.32	0.9	0.68	0.64	0.35		FGWMX
	FEMDX	LOTCX	IGIEX	BXECX	SRWAX	AMTOX	FGWMX

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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

FGWMX	+ 0.9	IGIEX
SRWAX	+ 0.86	BXECX
AMTOX	+ 0.82	SRWAX
AMTOX	+ 0.81	BXECX
FGWMX	+ 0.78	FEMDX
SRWAX	+ 0.77	IGIEX

High negative correlations

AMTOX	- 0.38	LOTCX
SRWAX	- 0.26	LOTCX
BXECX	- 0.22	LOTCX

Risk-Adjusted Indicators

There is a big difference between AWPIX Mutual Fund performing well and Ab International 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 International'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
FEMDX	0.17	0.02	(0.12)	0.48	0.09	(0.23)	0.35	(0.35)	1.29
LOTCX	0.52	0.01	(0.05)	(0.10)	0.68	(0.57)	0.78	(1.17)	3.77
IGIEX	0.28	(0.03)	0.00	(0.30)	0.00	0.00	0.60	(0.60)	2.17
BXECX	0.22	(0.02)	0.00	(0.25)	0.00	0.00	0.54	(0.40)	1.46
SRWAX	0.38	(0.04)	0.00	(0.11)	0.00	0.00	0.71	(0.70)	4.64
AMTOX	0.45	(0.03)	0.00	(0.09)	0.00	0.00	1.13	(0.81)	3.48
FGWMX	0.25	(0.01)	(0.15)	(0.17)	0.32	(0.28)	0.48	(0.48)	1.97

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