AB Active Correlations

Etfs . USA . 
Etf . AB Active ETFs
LRGC Etf   77.81  0.21  0.27%   
The current 90-days correlation between AB Active ETFs and First Trust Exchange Traded is 0.92 (i.e., Almost no diversification). The correlation of AB Active 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.

AB Active Correlation With Market

Very poor diversification

The correlation between AB Active ETFs and DJI is 0.86 (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 LRGC Etf
Check out Correlation Analysis 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 price.

Moving together with LRGC Etf

  0.89VTI Vanguard Total StockPairCorr
  0.89SPY SPDR SP 500PairCorr
  0.89IVV iShares Core SPPairCorr
  0.8VIG Vanguard DividendPairCorr
  0.88VV Vanguard Large CapPairCorr
  0.79RSP Invesco SP 500 Aggressive PushPairCorr
  0.89IWB iShares Russell 1000PairCorr
  0.87ESGU iShares ESG AwarePairCorr
  0.91DFAC Dimensional Core EquityPairCorr
  0.65SPLG SSgA Symbol ChangePairCorr
  0.64OIH VanEck Oil ServicesPairCorr
  0.79WTMF WisdomTree ManagedPairCorr
  0.77EWC iShares MSCI CanadaPairCorr
  0.88TOT Advisor Managed PortPairCorr
  0.75BST BlackRock Science TechPairCorr
  0.62RDIV Invesco SP UltraPairCorr
  0.76AHYB American Century ETFPairCorr
  0.64DD Dupont De Nemours Earnings Call This WeekPairCorr
  0.61INTC Intel Aggressive PushPairCorr

Moving against LRGC Etf

  0.44HPQ HP IncPairCorr
  0.32MSFT MicrosoftPairCorr
  0.32T ATT Inc Aggressive PushPairCorr

Related Correlations Analysis


AB Active Constituents Risk-Adjusted Indicators

There is a big difference between LRGC 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
INFO  0.58  0.00 (0.03) 0.08  0.83 
(0.56)
 1.04 
(1.35)
 4.11 
PNOV  0.30 (0.02)(0.08) 0.00  0.44 
(0.28)
 0.62 
(0.72)
 2.27 
CVLC  0.57  0.02 (0.02) 0.35  0.77 
(0.58)
 1.18 
(1.21)
 3.49 
ROBT  1.12 (0.25) 0.00 (0.16) 0.00 
 0.00 
 1.88 
(2.71)
 5.15 
PMAY  0.13  0.01 (0.08) 0.10  0.07 
(0.14)
 0.36 
(0.36)
 0.81 
USSG  0.61 (0.05) 0.00 (0.02) 0.00 
 0.00 
 1.02 
(1.49)
 4.28 
PMAR  0.18  0.01 (0.06) 0.07  0.19 
(0.18)
 0.41 
(0.43)
 1.33 
VUSE  0.61 (0.08) 0.00 (0.06) 0.00 
 0.00 
 1.13 
(1.52)
 3.35 
FDRR  0.49  0.02  0.01  0.06  0.64 
(0.50)
 1.16 
(1.17)
 3.43 
GJUL  0.21  0.02 (0.05) 1.79  0.21 
(0.23)
 0.51 
(0.44)
 1.49 

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