Ab Flexfee Correlations

FFTYX Fund

USD 20.55 0.03 0.15%

The current 90-days correlation between Ab Flexfee Thematic and Ab Global E is 0.82 (i.e., Very poor diversification). The correlation of Ab Flexfee 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 Flexfee Correlation With Market

Poor diversification

The correlation between Ab Flexfee Thematic and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab Flexfee Thematic and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Ab Flexfee Thematic. 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 manufacturing.

Moving together with FFTYX Mutual Fund

0.86	GCEYX	Ab Global E	Pair Corr
0.69	AMTOX	Ab All Market	Pair Corr
1.0	SUTAX	Ab Sustainable Thematic	Pair Corr
1.0	SUTZX	Ab Sustainable Thematic	Pair Corr
0.61	AUNYX	Ab Municipal Bond	Pair Corr
0.61	AUNTX	Ab Municipal Bond	Pair Corr

Related Correlations Analysis

	GCEAX	GCECX	GCEYX	AMNCX	AMNAX	AMTAX	AMTYX	AMTOX	ANAZX	ANAYX
GCEAX		1.0	1.0	0.05	0.18	0.86	0.86	0.86	-0.05	-0.05	GCEAX
GCECX	1.0		1.0	0.08	0.2	0.85	0.85	0.85	-0.02	-0.02	GCECX
GCEYX	1.0	1.0		0.04	0.17	0.86	0.86	0.86	-0.06	-0.06	GCEYX
AMNCX	0.05	0.08	0.04		0.93	0.04	0.04	0.04	0.92	0.92	AMNCX
AMNAX	0.18	0.2	0.17	0.93		0.2	0.19	0.2	0.84	0.84	AMNAX
AMTAX	0.86	0.85	0.86	0.04	0.2		1.0	1.0	-0.1	-0.1	AMTAX
AMTYX	0.86	0.85	0.86	0.04	0.19	1.0		1.0	-0.1	-0.1	AMTYX
AMTOX	0.86	0.85	0.86	0.04	0.2	1.0	1.0		-0.09	-0.09	AMTOX
ANAZX	-0.05	-0.02	-0.06	0.92	0.84	-0.1	-0.1	-0.09		1.0	ANAZX
ANAYX	-0.05	-0.02	-0.06	0.92	0.84	-0.1	-0.1	-0.09	1.0		ANAYX
	GCEAX	GCECX	GCEYX	AMNCX	AMNAX	AMTAX	AMTYX	AMTOX	ANAZX	ANAYX

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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

GCECX	+ 1.0	GCEAX
GCEYX	+ 1.0	GCEAX
GCEYX	+ 1.0	GCECX
AMTYX	+ 1.0	AMTAX
AMTOX	+ 1.0	AMTAX
AMTOX	+ 1.0	AMTYX

High negative correlations

ANAYX	- 0.1	AMTYX
ANAZX	- 0.1	AMTYX
ANAYX	- 0.1	AMTAX
ANAZX	- 0.1	AMTAX
ANAYX	- 0.09	AMTOX
ANAZX	- 0.09	AMTOX

Risk-Adjusted Indicators

There is a big difference between FFTYX Mutual Fund performing well and Ab Flexfee 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 Flexfee'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
GCEAX	0.57	(0.08)	(0.15)	0.01	0.72	(0.58)	0.94	(1.24)	3.45
GCECX	0.56	(0.08)	(0.16)	0.00	0.71	(0.59)	0.95	(1.22)	3.44
GCEYX	0.56	(0.08)	(0.15)	0.01	0.71	(0.58)	0.98	(1.24)	3.44
AMNCX	0.12	0.00	(0.44)	0.11	0.19	(0.17)	0.31	(0.31)	1.15
AMNAX	0.12	(0.01)	(0.44)	(0.17)	0.19	(0.17)	0.31	(0.31)	1.15
AMTAX	0.49	0.05	(0.11)	1.97	0.54	(0.57)	1.18	(1.05)	3.45
AMTYX	0.49	0.05	(0.10)	2.49	0.55	(0.56)	1.08	(1.05)	3.57
AMTOX	0.49	0.05	(0.10)	1.99	0.53	(0.60)	1.10	(1.08)	3.43
ANAZX	0.18	(0.01)	0.00	2.39	0.00	0.00	0.29	(0.29)	1.01
ANAYX	0.18	(0.01)	0.00	0.62	0.00	0.00	0.43	(0.29)	1.01

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