Absolute Capital Correlations

Mutual Funds . USA . 
Fund . Absolute Capital Asset
AAMIX Fund  USD 12.00  0.05  0.42%   
The current 90-days correlation between Absolute Capital Asset and Calamos Dynamic Convertible is 0.25 (i.e., Modest diversification). The correlation of Absolute 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.

Absolute Capital Correlation With Market

Almost no diversification

The correlation between Absolute Capital Asset and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Absolute Capital Asset and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Absolute Capital Asset. 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 Absolute Mutual Fund

  1.0AAMAX Absolute Capital AssetPairCorr
  1.0AAMCX Absolute Capital AssetPairCorr
  0.98ACMIX Absolute Capital DefenderPairCorr
  0.97ACMDX Absolute Capital DefenderPairCorr
  0.98ACMAX Absolute Capital DefenderPairCorr
  0.98ASG Liberty All StarPairCorr
  0.89CII Blackrock EnhancedPairCorr
  0.93ETV Eaton Vance TaxPairCorr
  0.93CLM Cornerstone StrategicPairCorr
  0.91CRF Cornerstone StrategicPairCorr
  0.89USA Liberty All StarPairCorr
  0.94ETY Eaton Vance TaxPairCorr
  0.65NFJ Virtus Dividend InterestPairCorr
  0.83EVBLX Eaton Vance FloatingPairCorr
  0.94FAGIX Fidelity Capital IncomePairCorr
  0.74BPTRX Baron PartnersPairCorr
  0.98AOFIX Alger Small CapPairCorr
  0.92NCZ Allianzgi ConvertiblePairCorr
  0.99QCEQRX College RetirementPairCorr
  0.86CSOIX Credit Suisse StrategicPairCorr
  0.93VFIAX Vanguard 500 IndexPairCorr
  0.99TEIHX Tiaa Cref EquityPairCorr
  0.97ENGIX Cboe Vest SpPairCorr
  0.93VFINX Vanguard 500 IndexPairCorr
  0.87HSUTX Rational Defensive GrowthPairCorr
  0.92SBQIX Americafirst Large CapPairCorr

Moving against Absolute Mutual Fund

  0.31PAUPX Pimco All AssetPairCorr
  0.31PAUIX Pimco All AssetPairCorr
  0.56IFN India ClosedPairCorr

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   
XNCVX
+ 0.99
VAADX
LCFYX
+ 0.97
VAADX
LCFYX
+ 0.97
XNCVX
LCFYX
+ 0.94
GCV
AVK
+ 0.93
GCV
VAADX
+ 0.92
GCV
  
High negative correlations   
XNCVX
- 0.62
CCD
VAADX
- 0.62
CCD
LCFYX
- 0.58
CCD
GCV
- 0.52
CCD
AVK
- 0.45
CCD

Risk-Adjusted Indicators

There is a big difference between Absolute Mutual Fund performing well and Absolute 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 Absolute 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.

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