Ab Small Correlations

Mutual Funds . USA . 
Fund . Ab Small Cap
QUAKX Fund  USD 69.24  0.54  0.77%   
The current 90-days correlation between Ab Small Cap and Ab Discovery Value is -0.02 (i.e., Good diversification). The correlation of Ab Small 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 Small Correlation With Market

Weak diversification

The correlation between Ab Small Cap and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab Small Cap and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Ab Small Cap. 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 industry.

Moving together with QUAKX Mutual Fund

  0.66GCEAX Ab Global EPairCorr
  0.65GCECX Ab Global EPairCorr
  0.66GCEYX Ab Global EPairCorr
  0.63AMTAX Ab All MarketPairCorr
  0.63AMTZX Ab All MarketPairCorr
  0.64AMTYX Ab All MarketPairCorr
  0.63AMTOX Ab All MarketPairCorr
  0.61ANAYX Ab Global BondPairCorr
  0.62ANAIX Ab Global BondPairCorr
  0.61ANACX Ab Global BondPairCorr
  0.62ANIAX New York MunicipalPairCorr
  0.63ANIYX New York MunicipalPairCorr
  0.63ANMCX New York MunicipalPairCorr
  0.84SCAVX Ab Small CapPairCorr
  0.83SCCVX Ab Small CapPairCorr
  0.62APAAX Ab Pennsylvania PortfolioPairCorr
  0.84SCYVX Ab Small CapPairCorr
  0.68APGZX Ab Large CapPairCorr
  0.78APGYX Ab Large CapPairCorr
  0.73APGAX Ab Large CapPairCorr

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   
QUAIX
+ 1.0
QUARX
QUACX
+ 1.0
QUARX
QUACX
+ 1.0
QUAIX
QUARX
+ 0.65
ALCKX
QUACX
+ 0.65
ALCKX
QUAIX
+ 0.64
ALCKX
  
High negative correlations   
ALCKX
- 0.17
ABSKX
QUACX
- 0.12
ABSKX
QUARX
- 0.12
ABSKX
QUAIX
- 0.11
ABSKX

Risk-Adjusted Indicators

There is a big difference between QUAKX Mutual Fund performing well and Ab Small 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 Small'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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