AB Active Correlations

CAM Etf

25.09 0.00 0.00%

The current 90-days correlation between AB Active ETFs and iShares Short Term California is 0.17 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as AB Active moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if AB Active ETFs moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

AB Active Correlation With Market

Significant diversification

The correlation between AB Active ETFs and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AB Active ETFs and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with CAM Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in AB Active ETFs. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with CAM Etf

0.64	CALI	iShares Short Term	Pair Corr
0.64	JAVA	JPMorgan Active Value	Pair Corr
0.64	DDFO	Innovator Equity Dual	Pair Corr
0.71	AXP	American Express	Pair Corr
0.62	MCD	McDonalds	Pair Corr

Moving against CAM Etf

0.66	NFLX	Netflix	Pair Corr
0.52	HPQ	HP Inc	Pair Corr
0.41	HD	Home Depot	Pair Corr
0.39	SHLD	Global X Defense	Pair Corr
0.37	EMC	Global X Funds	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.67	0.47	-0.55	0.42	-0.44	0.23	-0.21	-0.45	-0.59	META
MSFT	0.67		0.85	-0.54	0.41	-0.13	-0.01	-0.38	-0.8	-0.63	MSFT
UBER	0.47	0.85		-0.58	0.54	-0.02	-0.25	-0.43	-0.86	-0.66	UBER
F	-0.55	-0.54	-0.58		-0.65	0.33	0.33	0.52	0.64	0.78	F
T	0.42	0.41	0.54	-0.65		-0.14	-0.59	-0.4	-0.42	-0.56	T
A	-0.44	-0.13	-0.02	0.33	-0.14		-0.36	-0.32	0.14	0.12	A
CRM	0.23	-0.01	-0.25	0.33	-0.59	-0.36		0.49	0.2	0.3	CRM
JPM	-0.21	-0.38	-0.43	0.52	-0.4	-0.32	0.49		0.52	0.52	JPM
MRK	-0.45	-0.8	-0.86	0.64	-0.42	0.14	0.2	0.52		0.74	MRK
XOM	-0.59	-0.63	-0.66	0.78	-0.56	0.12	0.3	0.52	0.74		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

UBER	+ 0.85	MSFT
XOM	+ 0.78	F
XOM	+ 0.74	MRK
MSFT	+ 0.67	META
MRK	+ 0.64	F
T	+ 0.54	UBER

High negative correlations

MRK	- 0.86	UBER
MRK	- 0.8	MSFT
XOM	- 0.66	UBER
T	- 0.65	F
XOM	- 0.63	MSFT
CRM	- 0.59	T

AB Active Competition Risk-Adjusted Indicators

There is a big difference between CAM Etf performing well and AB Active ETF 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 Active'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
META	1.39	(0.21)	0.00	(0.18)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.89	(0.12)	0.00	(0.16)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.46	(0.34)	0.00	(0.28)	0.00	0.00	2.60	(3.82)	10.51
F	1.47	0.09	0.06	0.11	1.67	(1.63)	3.38	(2.63)	16.30
T	0.95	(0.18)	0.00	(0.68)	0.00	0.00	1.61	(2.18)	5.75
A	1.21	0.10	0.07	0.14	1.22	(1.36)	2.34	(2.21)	11.03
CRM	1.50	0.08	0.04	0.13	1.88	(1.51)	3.66	(2.92)	9.91
JPM	1.06	(0.02)	(0.01)	0.03	1.44	(1.11)	2.00	(1.91)	7.02
MRK	1.42	0.43	0.32	0.55	0.97	(1.87)	4.85	(1.98)	11.45
XOM	0.90	0.08	0.04	0.39	0.87	(0.99)	1.96	(1.41)	4.99

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