Ab Sustainable Correlations

Mutual Funds . USA . 
Fund . Ab Sustainable Thematic
STHYX Fund  USD 8.34  0.02  0.24%   
The current 90-days correlation between Ab Sustainable Thematic and Vanguard Intermediate Term Porate is 0.09 (i.e., Significant diversification). The correlation of Ab Sustainable 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 Sustainable Correlation With Market

Good diversification

The correlation between Ab Sustainable Thematic and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab Sustainable Thematic and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Ab Sustainable 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 STHYX Mutual Fund

  0.86AMNCX Ab Minnesota PortfolioPairCorr
  0.89AMNAX Ab Minnesota PortfolioPairCorr
  0.98ANAZX Ab Global BondPairCorr
  0.95ANAYX Ab Global BondPairCorr
  0.98ANAGX Ab Global BondPairCorr
  0.98ANAIX Ab Global BondPairCorr
  0.98ANACX Ab Global BondPairCorr
  0.82ANBIX Ab Bond InflationPairCorr
  0.72ANIAX New York MunicipalPairCorr
  0.82ANJAX Ab New JerseyPairCorr
  0.84ANJCX Ab New JerseyPairCorr
  0.72ANIYX New York MunicipalPairCorr
  0.8ANMCX New York MunicipalPairCorr
  0.85ANYCX Ab New YorkPairCorr
  0.96STHAX Ab Sustainable ThematicPairCorr
  0.81AOHAX Ab Ohio PortfolioPairCorr
  0.9AOHCX Ab Ohio PortfolioPairCorr
  0.61APAAX Ab Pennsylvania PortfolioPairCorr
  0.67APACX Ab Pennsylvania PortfolioPairCorr

Moving against STHYX Mutual Fund

  0.57SCAVX Ab Small CapPairCorr
  0.57SCCVX Ab Small CapPairCorr
  0.5SCRSX Small Cap CorePairCorr
  0.5SCRYX Small Cap CorePairCorr
  0.5SCRZX Small Cap CorePairCorr
  0.64APGAX Ab Large CapPairCorr
  0.61APGZX Ab Large CapPairCorr
  0.61APGYX Ab Large CapPairCorr
  0.61APGCX Ab Large CapPairCorr
  0.58SCYVX Ab Small CapPairCorr
  0.57CHCLX Ab Discovery GrowthPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between STHYX Mutual Fund performing well and Ab Sustainable 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 Sustainable'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
VICSX  0.22 (0.02) 0.00 (0.33) 0.00 
 0.00 
 0.45 
(0.55)
 1.33 
VFICX  0.23 (0.02) 0.00  0.68  0.00 
 0.00 
 0.46 
(0.58)
 1.39 
VFIDX  0.22 (0.02) 0.00 (0.40) 0.00 
 0.00 
 0.46 
(0.56)
 1.39 
VICBX  0.22 (0.02) 0.00  0.87  0.00 
 0.00 
 0.48 
(0.55)
 1.33 
PBDPX  0.23 (0.03) 0.00  0.85  0.00 
 0.00 
 0.44 
(0.65)
 1.45 
PIGIX  0.23 (0.03) 0.00  0.85  0.00 
 0.00 
 0.44 
(0.65)
 1.45 
PGCAX  0.23 (0.03) 0.00  0.86  0.00 
 0.00 
 0.44 
(0.65)
 1.45 
PBDAX  0.23 (0.03) 0.00  0.86  0.00 
 0.00 
 0.44 
(0.65)
 1.45 
PBDCX  0.22 (0.03) 0.00  1.00  0.00 
 0.00 
 0.44 
(0.65)
 1.45 
PCNNX  0.22 (0.02) 0.00  0.74  0.00 
 0.00 
 0.44 
(0.65)
 1.45 

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