Abbey Capital Correlations

MAFIX Fund

USD 12.19 0.08 0.65%

The current 90-days correlation between Abbey Capital Multi and Mfs International Diversification is 0.51 (i.e., Very weak diversification). The correlation of Abbey Capital 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.

Abbey Capital Correlation With Market

Poor diversification

The correlation between Abbey Capital Multi 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 Abbey Capital Multi and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Abbey Capital Multi. 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 gross domestic product.

Moving together with Abbey Mutual Fund

1.0	MAFAX	Abbey Capital Multi	Pair Corr
1.0	MAFCX	Abbey Capital Multi	Pair Corr
0.61	BXMYX	Blackstone Alternative	Pair Corr
0.62	BXMIX	Blackstone Alternative	Pair Corr
0.63	BXMDX	Blackstone Alternative	Pair Corr
0.74	GARTX	Goldman Sachs Absolute	Pair Corr
0.73	GCRTX	Goldman Sachs Absolute	Pair Corr
0.74	JPYRX	Jpmorgan Smartretirement	Pair Corr
0.7	VASGX	Vanguard Lifestrategy	Pair Corr
0.67	VFIAX	Vanguard 500 Index	Pair Corr
0.65	VIGAX	Vanguard Growth Index	Pair Corr
0.68	VTWAX	Vanguard Total World	Pair Corr
0.76	AMVYX	Mid Cap Value	Pair Corr
0.69	VSEQX	Vanguard Strategic Equity	Pair Corr
0.72	VEXRX	Vanguard Explorer	Pair Corr
0.72	LGWIX	Ladenburg Growth	Pair Corr
0.7	DFMGX	Df Dent Midcap	Pair Corr

Related Correlations Analysis

	MDIJX	444859BR2	AQUI	BRRAY	LBHIX	MSTSX	ABHYX	SCAXF	VIASP	AAEVX
MDIJX		0.26	0.0	-0.4	0.02	0.42	0.34	0.71	-0.74	-0.11	MDIJX
444859BR2	0.26		0.0	0.31	-0.54	-0.45	-0.03	0.46	-0.46	-0.65	444859BR2
AQUI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.4	0.31	0.0		-0.35	-0.45	-0.37	-0.06	0.12	-0.28	BRRAY
LBHIX	0.02	-0.54	0.0	-0.35		0.68	0.56	-0.35	0.26	0.73	LBHIX
MSTSX	0.42	-0.45	0.0	-0.45	0.68		0.27	-0.04	-0.05	0.81	MSTSX
ABHYX	0.34	-0.03	0.0	-0.37	0.56	0.27		-0.1	-0.12	0.1	ABHYX
SCAXF	0.71	0.46	0.0	-0.06	-0.35	-0.04	-0.1		-0.82	-0.5	SCAXF
VIASP	-0.74	-0.46	0.0	0.12	0.26	-0.05	-0.12	-0.82		0.47	VIASP
AAEVX	-0.11	-0.65	0.0	-0.28	0.73	0.81	0.1	-0.5	0.47		AAEVX
	MDIJX	444859BR2	AQUI	BRRAY	LBHIX	MSTSX	ABHYX	SCAXF	VIASP	AAEVX

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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

AAEVX	+ 0.81	MSTSX
AAEVX	+ 0.73	LBHIX
SCAXF	+ 0.71	MDIJX
MSTSX	+ 0.68	LBHIX
ABHYX	+ 0.56	LBHIX
AAEVX	+ 0.47	VIASP

High negative correlations

VIASP	- 0.82	SCAXF
VIASP	- 0.74	MDIJX
AAEVX	- 0.65	444859BR2
LBHIX	- 0.54	444859BR2
AAEVX	- 0.5	SCAXF
VIASP	- 0.46	444859BR2

Risk-Adjusted Indicators

There is a big difference between Abbey Mutual Fund performing well and Abbey Capital 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 Abbey Capital'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
MDIJX	0.57	(0.11)	0.00	(0.15)	0.00	0.00	1.04	(1.26)	3.85
444859BR2	1.36	(0.08)	0.00	(0.21)	0.00	0.00	5.93	(5.79)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.10)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
LBHIX	0.12	0.01	(0.39)	0.51	0.00	(0.28)	0.24	(0.24)	0.96
MSTSX	0.49	(0.03)	(0.12)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
ABHYX	0.18	0.03	(0.22)	(0.11)	0.25	(0.24)	0.34	(0.33)	1.91
SCAXF	0.70	(0.37)	0.00	(33.24)	0.00	0.00	0.00	0.00	23.47
VIASP	0.75	0.08	(0.03)	(1.87)	1.12	(0.82)	2.28	(1.20)	7.18
AAEVX	0.49	(0.02)	(0.09)	0.08	0.53	(0.59)	0.93	(0.77)	2.76

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