Ab Small Correlations

Mutual Funds . USA . 
Fund . Ab Small Cap
QUASX Fund  USD 66.34  0.63  0.96%   
The current 90-days correlation between Ab Small Cap and Ab Global E is 0.72 (i.e., Poor 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 0.38 (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 state.

Moving together with QUASX Mutual Fund

  0.63AMNAX Ab Minnesota PortfolioPairCorr
  0.64ANIAX New York MunicipalPairCorr
  0.64ANJAX Ab New JerseyPairCorr
  0.63ANJCX Ab New JerseyPairCorr
  0.65ANMCX New York MunicipalPairCorr
  0.62ANYCX Ab New YorkPairCorr
  0.61AOHCX Ab Ohio PortfolioPairCorr
  0.92SCAVX Ab Small CapPairCorr
  0.91SCCVX Ab Small CapPairCorr
  0.62APAAX Ab Pennsylvania PortfolioPairCorr
  0.92SCYVX Ab Small CapPairCorr
  0.78APGZX Ab Large CapPairCorr
  0.78APGYX Ab Large CapPairCorr
  0.73APGAX Ab Large CapPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between QUASX 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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
GCEAX  0.56 (0.09) 0.00 (0.31) 0.00 
 0.00 
 0.88 
(1.44)
 3.90 
GCECX  0.56 (0.09) 0.00 (0.32) 0.00 
 0.00 
 0.85 
(1.42)
 3.89 
GCEYX  0.55 (0.09) 0.00 (0.30) 0.00 
 0.00 
 0.88 
(1.38)
 3.85 
AMNCX  0.18 (0.03) 0.00 (0.55) 0.00 
 0.00 
 0.41 
(0.42)
 1.15 
AMNAX  0.18 (0.03) 0.00 (0.60) 0.00 
 0.00 
 0.32 
(0.42)
 1.15 
AMTAX  0.47 (0.03) 0.00 (0.14) 0.00 
 0.00 
 1.10 
(1.06)
 3.49 
AMTZX  0.46 (0.04) 0.00 (0.20) 0.00 
 0.00 
 1.12 
(0.99)
 3.34 
AMTYX  0.46 (0.03) 0.00 (0.14) 0.00 
 0.00 
 1.10 
(1.07)
 3.51 
AMTOX  0.46 (0.03) 0.00 (0.14) 0.00 
 0.00 
 1.13 
(1.09)
 3.48 
ANAZX  0.20 (0.02) 0.00 (0.65) 0.00 
 0.00 
 0.29 
(0.44)
 1.31 

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