AB Active Correlations

CAM Etf

25.23 0.04 0.16%

The current 90-days correlation between AB Active ETFs and Xtrackers California Municipal is 0.45 (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 0.83 (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

0.96	CALI	iShares Short Term	Pair Corr
0.9	ARP	Advisors Inner Circle	Pair Corr
0.79	PXMV	Invesco SP MidCap	Pair Corr
0.8	IGA	Voya Global Advantage	Pair Corr
0.67	PAB	PGIM ETF Trust	Pair Corr
0.79	BRNY	Burney Factor Rotation	Pair Corr
0.96	EVMT	Invesco Electric Vehicle	Pair Corr
0.75	EWQ	iShares MSCI France	Pair Corr
0.91	BATT	Amplify Lithium Battery	Pair Corr
0.93	FEUZ	First Trust Eurozone	Pair Corr
0.85	DFAT	Dimensional Targeted	Pair Corr
0.82	PFM	Invesco Dividend Ach	Pair Corr
0.88	FDEM	Fidelity Emerging Markets Low Volatility	Pair Corr
0.85	RULE	Collaborative Investment Low Volatility	Pair Corr
0.83	ALIL	Argent Focused Small	Pair Corr
0.8	GSEP	FT Cboe Vest	Pair Corr
0.87	SHV	iShares Short Treasury	Pair Corr
0.9	GLD	SPDR Gold Shares Aggressive Push	Pair Corr
0.8	URTY	ProShares UltraPro	Pair Corr
0.89	CPSF	Calamos SP 500	Pair Corr
0.89	USHY	iShares Broad USD	Pair Corr
0.79	DUSA	Davis Select Equity	Pair Corr
0.73	XBI	SPDR SP Biotech	Pair Corr
0.78	IGTR	Innovator ETFs Trust	Pair Corr
0.83	BOEU	Direxion Daily BA	Pair Corr
0.94	JFLX	JP Morgan Exchange	Pair Corr
0.88	STOT	SPDR DoubleLine Short	Pair Corr
0.9	IAU	iShares Gold Trust	Pair Corr
0.89	SGOL	abrdn Physical Gold	Pair Corr
0.81	VIG	Vanguard Dividend	Pair Corr
0.94	YDEC	First Trust Exchange	Pair Corr
0.81	PSEP	Innovator SP 500	Pair Corr
0.88	INEQ	Columbia International	Pair Corr
0.81	SIXS	6 Meridian Small Potential Growth	Pair Corr
0.78	MBS	Angel Oak Mortgage	Pair Corr

Moving against CAM Etf

0.54	ENTR	EntrepreneurShares	Pair Corr
0.4	PLT	Defiance Leveraged Long	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.54	0.3	-0.12	-0.03	-0.16	0.54	0.02	-0.28	-0.24	META
MSFT	0.54		0.78	-0.54	0.48	0.28	0.33	-0.19	-0.85	-0.7	MSFT
UBER	0.3	0.78		-0.45	0.42	0.48	0.03	-0.32	-0.8	-0.51	UBER
F	-0.12	-0.54	-0.45		-0.6	-0.19	0.09	0.52	0.67	0.59	F
T	-0.03	0.48	0.42	-0.6		0.62	-0.15	-0.28	-0.47	-0.66	T
A	-0.16	0.28	0.48	-0.19	0.62		-0.24	-0.16	-0.3	-0.46	A
CRM	0.54	0.33	0.03	0.09	-0.15	-0.24		0.61	-0.11	-0.38	CRM
JPM	0.02	-0.19	-0.32	0.52	-0.28	-0.16	0.61		0.41	0.02	JPM
MRK	-0.28	-0.85	-0.8	0.67	-0.47	-0.3	-0.11	0.41		0.71	MRK
XOM	-0.24	-0.7	-0.51	0.59	-0.66	-0.46	-0.38	0.02	0.71		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	+ 0.78	MSFT
XOM	+ 0.71	MRK
MRK	+ 0.67	F
A	+ 0.62	T
JPM	+ 0.61	CRM
XOM	+ 0.59	F

High negative correlations

MRK	- 0.85	MSFT
MRK	- 0.8	UBER
XOM	- 0.7	MSFT
XOM	- 0.66	T
T	- 0.6	F
F	- 0.54	MSFT

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	1.44	(0.12)	0.00	(1.43)	0.00	0.00	3.16	(2.67)	13.02
MSFT	1.05	(0.13)	0.00	0.63	0.00	0.00	1.78	(2.50)	4.90
UBER	1.45	(0.23)	0.00	(0.24)	0.00	0.00	2.60	(3.82)	10.23
F	1.47	0.11	0.09	0.15	1.32	(1.82)	3.65	(2.35)	16.30
T	0.88	(0.17)	0.00	(0.41)	0.00	0.00	1.53	(1.85)	4.30
A	1.19	(0.19)	0.00	(0.08)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.43	(0.23)	0.00	(0.16)	0.00	0.00	2.94	(3.10)	12.37
JPM	1.11	(0.06)	(0.02)	0.03	1.66	(1.09)	2.00	(3.11)	7.38
MRK	1.24	0.28	0.19	0.47	1.13	(1.50)	3.59	(1.98)	8.09
XOM	1.07	0.27	0.17	4.15	0.96	(1.25)	2.38	(1.51)	5.82

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