AB Active Correlations

CAM Etf

25.43 0.01 0.04%

The current 90-days correlation between AB Active ETFs and Xtrackers California Municipal is 0.54 (i.e., Very weak 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

Very poor diversification

The correlation between AB Active ETFs and DJI is 0.81 (i.e., Very poor 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

0.97	CALI	iShares Short Term	Pair Corr
0.76	FB	ProShares Trust ProShares	Pair Corr
0.67	VBK	Vanguard Small Cap	Pair Corr
0.94	EEM	iShares MSCI Emerging	Pair Corr
0.9	FNGD	MicroSectors FANG Index	Pair Corr
0.94	JPST	JPMorgan Ultra Short	Pair Corr
0.86	DUKH	Ocean Park High	Pair Corr
0.93	PEY	Invesco High Yield	Pair Corr
0.96	IEFA	iShares Core MSCI	Pair Corr
0.89	HEZU	iShares Currency Hedged	Pair Corr
0.95	FEMB	First Trust Emerging	Pair Corr
0.96	LGLV	SPDR SSGA Large	Pair Corr
0.73	FXE	Invesco CurrencyShares	Pair Corr
0.95	FJP	First Trust Japan	Pair Corr
0.97	SCMB	Schwab Municipal Bond	Pair Corr
0.77	SMHB	ETRACS 2xMonthly Pay	Pair Corr
0.87	FNX	First Trust Mid	Pair Corr
0.91	SPIB	SPDR Barclays Interm	Pair Corr
0.82	CORP	PIMCO Investment Grade	Pair Corr
0.96	SCHF	Schwab International	Pair Corr
0.76	UWM	ProShares Ultra Russ	Pair Corr
0.92	FXA	Invesco CurrencyShares	Pair Corr
0.91	WSML	iShares MSCI World	Pair Corr
0.72	STXD	EA Series Trust	Pair Corr
0.96	VIS	Vanguard Industrials	Pair Corr
0.87	CARZ	First Trust S	Pair Corr
0.9	STPZ	PIMCO 1 5	Pair Corr
0.94	IEMG	iShares Core MSCI	Pair Corr
0.92	CTA	Simplify Managed Futures	Pair Corr
0.91	EJUL	Innovator MSCI Emerging	Pair Corr
0.84	PDBC	Invesco Optimum Yield	Pair Corr
0.82	QCAP	FT Vest NASDAQ	Pair Corr
0.89	AOA	iShares Core Aggressive	Pair Corr
0.96	EFV	iShares MSCI EAFE	Pair Corr

Moving against CAM Etf

0.86	NFLX	Netflix	Pair Corr
0.73	GBTC	Grayscale Bitcoin Trust	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.38	-0.43	0.41	0.14	-0.49	-0.08	0.34	0.45	0.41	META
MSFT	-0.38		0.81	-0.55	-0.68	0.73	0.83	0.07	-0.86	-0.91	MSFT
UBER	-0.43	0.81		-0.49	-0.53	0.8	0.58	-0.08	-0.8	-0.76	UBER
F	0.41	-0.55	-0.49		0.14	-0.45	-0.28	0.28	0.7	0.62	F
T	0.14	-0.68	-0.53	0.14		-0.44	-0.77	-0.14	0.45	0.6	T
A	-0.49	0.73	0.8	-0.45	-0.44		0.52	-0.02	-0.66	-0.79	A
CRM	-0.08	0.83	0.58	-0.28	-0.77	0.52		0.44	-0.61	-0.82	CRM
JPM	0.34	0.07	-0.08	0.28	-0.14	-0.02	0.44		0.21	-0.09	JPM
MRK	0.45	-0.86	-0.8	0.7	0.45	-0.66	-0.61	0.21		0.84	MRK
XOM	0.41	-0.91	-0.76	0.62	0.6	-0.79	-0.82	-0.09	0.84		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

XOM	+ 0.84	MRK
CRM	+ 0.83	MSFT
UBER	+ 0.81	MSFT
A	+ 0.8	UBER
A	+ 0.73	MSFT
MRK	+ 0.7	F

High negative correlations

XOM	- 0.91	MSFT
MRK	- 0.86	MSFT
XOM	- 0.82	CRM
MRK	- 0.8	UBER
XOM	- 0.79	A
CRM	- 0.77	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	1.50	0.02	0.00	0.07	1.52	(1.82)	3.43	(2.82)	13.69
MSFT	1.32	(0.38)	0.00	(1.03)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.51	(0.44)	0.00	(0.83)	0.00	0.00	2.41	(3.82)	11.09
F	1.21	0.07	0.05	0.13	1.18	(1.44)	3.34	(2.30)	7.16
T	1.00	0.21	0.17	6.48	0.77	(1.18)	3.87	(1.54)	5.31
A	1.25	(0.33)	0.00	(0.22)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.71	(0.45)	0.00	(0.42)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.27	(0.10)	0.00	(0.02)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.29	0.43	0.31	0.78	1.00	(1.59)	2.93	(1.98)	8.74
XOM	1.25	0.32	0.20	1.60	1.14	(1.43)	2.68	(2.12)	6.83

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