Ab Discovery Correlations

Mutual Funds . USA . 
Fund . Ab Discovery Growth
CHCCX Fund  USD 4.42  0.04  0.90%   
The current 90-days correlation between Ab Discovery Growth and Financial Industries Fund is -0.04 (i.e., Good diversification). The correlation of Ab Discovery 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 Discovery Correlation With Market

Very poor diversification

The correlation between Ab Discovery Growth and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab Discovery 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 Discovery 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 main economic indicators.

Moving together with CHCCX Mutual Fund

  0.84SCAVX Ab Small CapPairCorr
  0.83SCCVX Ab Small CapPairCorr
  0.95SCRSX Small Cap CorePairCorr
  0.9SCRYX Small Cap CorePairCorr
  0.95SCRZX Small Cap CorePairCorr
  0.84SCYVX Ab Small CapPairCorr
  0.96APGZX Ab Large CapPairCorr
  0.96APGYX Ab Large CapPairCorr
  0.96APGAX Ab Large CapPairCorr
  0.96APGCX Ab Large CapPairCorr

Moving against CHCCX Mutual Fund

  0.61ANACX Ab Global BondPairCorr
  0.59ANAGX Ab Global BondPairCorr
  0.59ANAIX Ab Global BondPairCorr
  0.58ANAZX Ab Global BondPairCorr
  0.58ANAYX Ab Global BondPairCorr
  0.39AMNCX Ab Minnesota PortfolioPairCorr
  0.34AMNAX Ab Minnesota PortfolioPairCorr
  0.61STHAX Ab Sustainable ThematicPairCorr
  0.59STHYX Ab Sustainable ThematicPairCorr
  0.37ANJCX Ab New JerseyPairCorr
  0.37ANYCX Ab New YorkPairCorr
  0.34AOHCX Ab Ohio PortfolioPairCorr
  0.37ARECX Ab Global RealPairCorr
  0.35AREAX Ab Global RealPairCorr

Related Correlations Analysis

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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   
RGHYX
+ 0.88
BXDYX
NEITX
+ 0.78
TTRBX
NEITX
+ 0.78
MBSAX
MBSAX
+ 0.77
TTRBX
RGHYX
+ 0.65
JFIFX
BXDYX
+ 0.46
JFIFX
  
High negative correlations   
TTRBX
- 0.7
JFIFX
NEITX
- 0.42
JFIFX
MBSAX
- 0.17
JFIFX
RGHYX
- 0.07
TTRBX
NEITX
- 0.0
RGHYX

Risk-Adjusted Indicators

There is a big difference between CHCCX Mutual Fund performing well and Ab Discovery 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 Discovery'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.

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