Ab Relative Correlations

CABDX Fund

USD 6.89 0.03 0.44%

The current 90-days correlation between Ab Relative Value and Value Line Mid is -0.15 (i.e., Good diversification). The correlation of Ab Relative 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 Relative Correlation With Market

Almost no diversification

The correlation between Ab Relative Value and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab Relative Value 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 Relative Value. 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 small area income & poverty estimates.

Moving together with CABDX Mutual Fund

0.8	GCEAX	Ab Global E	Pair Corr
0.79	GCECX	Ab Global E	Pair Corr
0.79	GCEYX	Ab Global E	Pair Corr
0.94	AMTAX	Ab All Market	Pair Corr
0.93	AMTZX	Ab All Market	Pair Corr
0.93	AMTYX	Ab All Market	Pair Corr
0.93	AMTOX	Ab All Market	Pair Corr
0.74	ANAZX	Ab Global Bond	Pair Corr
0.75	ANAYX	Ab Global Bond	Pair Corr
0.78	ANAGX	Ab Global Bond	Pair Corr
0.74	ANAIX	Ab Global Bond	Pair Corr
0.72	ANACX	Ab Global Bond	Pair Corr
0.82	ANBIX	Ab Bond Inflation	Pair Corr
0.86	ANYCX	Ab New York	Pair Corr
0.94	STEYX	International Strategic	Pair Corr
0.94	STEZX	International Strategic	Pair Corr
0.94	STESX	International Strategic	Pair Corr
0.74	STHAX	Ab Sustainable Thematic	Pair Corr
0.79	STHYX	Ab Sustainable Thematic	Pair Corr
0.98	SCAVX	Ab Small Cap	Pair Corr
0.97	SCCVX	Ab Small Cap	Pair Corr
0.84	SCRSX	Small Cap Core	Pair Corr
0.84	SCRYX	Small Cap Core	Pair Corr
0.84	SCRZX	Small Cap Core	Pair Corr
0.97	SCYVX	Ab Small Cap	Pair Corr
0.75	CHCLX	Ab Discovery Growth	Pair Corr
0.72	CHCIX	Ab Discovery Growth	Pair Corr
0.72	CHCCX	Ab Discovery Growth	Pair Corr
0.72	CHCYX	Ab Discovery Growth	Pair Corr
0.65	CHCZX	Ab Discovery Growth	Pair Corr

Moving against CABDX Mutual Fund

0.73	SUTAX	Ab Sustainable Thematic	Pair Corr
0.73	SUTCX	Ab Sustainable Thematic	Pair Corr
0.73	SUTZX	Ab Sustainable Thematic	Pair Corr

Related Correlations Analysis

	GABSX	GACIX	CSVYX	BDFIX	BDFFX	PPVFX	SDLAX	FAMVX	VLIFX
GABSX		0.98	0.97	-0.09	-0.09	0.9	0.75	0.9	0.1	GABSX
GACIX	0.98		0.96	-0.06	-0.06	0.91	0.74	0.93	0.15	GACIX
CSVYX	0.97	0.96		0.07	0.06	0.84	0.8	0.93	0.26	CSVYX
BDFIX	-0.09	-0.06	0.07		1.0	-0.26	0.18	0.22	0.82	BDFIX
BDFFX	-0.09	-0.06	0.06	1.0		-0.27	0.17	0.21	0.82	BDFFX
PPVFX	0.9	0.91	0.84	-0.26	-0.27		0.72	0.8	-0.08	PPVFX
SDLAX	0.75	0.74	0.8	0.18	0.17	0.72		0.71	0.37	SDLAX
FAMVX	0.9	0.93	0.93	0.22	0.21	0.8	0.71		0.34	FAMVX
VLIFX	0.1	0.15	0.26	0.82	0.82	-0.08	0.37	0.34		VLIFX
	GABSX	GACIX	CSVYX	BDFIX	BDFFX	PPVFX	SDLAX	FAMVX	VLIFX

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

BDFFX	+ 1.0	BDFIX
GACIX	+ 0.98	GABSX
CSVYX	+ 0.97	GABSX
CSVYX	+ 0.96	GACIX
FAMVX	+ 0.93	GACIX
FAMVX	+ 0.93	CSVYX

High negative correlations

PPVFX	- 0.27	BDFFX
PPVFX	- 0.26	BDFIX
BDFFX	- 0.09	GABSX
BDFIX	- 0.09	GABSX
VLIFX	- 0.08	PPVFX
BDFFX	- 0.06	GACIX

Risk-Adjusted Indicators

There is a big difference between CABDX Mutual Fund performing well and Ab Relative 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 Relative'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
GABSX	0.73	0.22	0.19	11.86	0.47	(0.83)	2.33	(1.15)	4.50
GACIX	0.72	0.16	0.21	0.22	0.42	(0.83)	2.33	(1.13)	4.47
CSVYX	0.82	0.23	0.20	3.55	0.59	(1.02)	2.38	(1.34)	5.78
BDFIX	0.88	(0.06)	(0.05)	0.01	1.04	(0.95)	1.83	(1.89)	5.47
BDFFX	0.88	(0.06)	(0.05)	0.01	1.04	(0.95)	1.86	(1.89)	5.46
PPVFX	0.07	0.01	(0.47)	(1.48)	0.00	(0.12)	0.21	(0.11)	0.32
SDLAX	0.77	0.25	0.23	51.60	0.45	(0.98)	1.21	(1.15)	16.91
FAMVX	0.61	0.06	0.07	0.13	0.53	(0.69)	1.34	(1.06)	4.33
VLIFX	0.65	(0.05)	(0.07)	0.00	0.81	(0.71)	1.63	(1.24)	4.46

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