AllianceBernstein Correlations

AB Stock

USD 37.66 0.07 0.19%

The current 90-days correlation between AllianceBernstein and Affiliated Managers Group is 0.38 (i.e., Weak diversification). The correlation of AllianceBernstein 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.

AllianceBernstein Correlation With Market

Modest diversification

The correlation between AllianceBernstein Holding LP and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AllianceBernstein Holding LP 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 AllianceBernstein Holding LP. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with AllianceBernstein Stock

0.62	AXP	American Express	Pair Corr
0.64	DFS	Discover Financial	Pair Corr
0.64	ARES	Ares Management LP	Pair Corr
0.61	CGBD	Carlyle Secured Lending	Pair Corr

Moving against AllianceBernstein Stock

0.61	AMTD	AMTD IDEA Group	Pair Corr
0.43	FHI	Federated Investors	Pair Corr
0.4	BBUC	Brookfield Business Corp	Pair Corr
0.34	DHIL	Diamond Hill Investment Earnings Call Tomorrow	Pair Corr
0.34	UPST	Upstart Holdings Downward Rally	Pair Corr
0.32	BEN	Franklin Resources	Pair Corr
0.38	AX	Axos Financial	Pair Corr
0.33	BY	Byline Bancorp	Pair Corr

Related Correlations Analysis

	BSIG	AMG	BCSF	BCAT	CGBD	TPVG	HTGC	CSWC	ARCC	TCPC
BSIG		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	BSIG
AMG	0.0		-0.38	-0.2	-0.06	-0.17	-0.38	-0.44	-0.36	-0.43	AMG
BCSF	0.0	-0.38		0.25	0.07	0.42	0.97	0.67	0.53	0.4	BCSF
BCAT	0.0	-0.2	0.25		-0.1	0.68	0.29	0.68	0.34	0.7	BCAT
CGBD	0.0	-0.06	0.07	-0.1		0.03	0.24	-0.17	0.76	0.31	CGBD
TPVG	0.0	-0.17	0.42	0.68	0.03		0.45	0.75	0.49	0.74	TPVG
HTGC	0.0	-0.38	0.97	0.29	0.24	0.45		0.66	0.66	0.47	HTGC
CSWC	0.0	-0.44	0.67	0.68	-0.17	0.75	0.66		0.41	0.59	CSWC
ARCC	0.0	-0.36	0.53	0.34	0.76	0.49	0.66	0.41		0.68	ARCC
TCPC	0.0	-0.43	0.4	0.7	0.31	0.74	0.47	0.59	0.68		TCPC
	BSIG	AMG	BCSF	BCAT	CGBD	TPVG	HTGC	CSWC	ARCC	TCPC

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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

HTGC	+ 0.97	BCSF
ARCC	+ 0.76	CGBD
CSWC	+ 0.75	TPVG
TCPC	+ 0.74	TPVG
TCPC	+ 0.7	BCAT
TPVG	+ 0.68	BCAT

High negative correlations

CSWC	- 0.44	AMG
TCPC	- 0.43	AMG
HTGC	- 0.38	AMG
BCSF	- 0.38	AMG
ARCC	- 0.36	AMG
BCAT	- 0.2	AMG

Risk-Adjusted Indicators

There is a big difference between AllianceBernstein Stock performing well and AllianceBernstein Company 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 AllianceBernstein'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
BSIG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AMG	1.05	(0.17)	0.00	(0.22)	0.00	0.00	1.85	(2.27)	6.23
BCSF	0.60	0.19	0.27	0.69	0.38	(0.75)	1.72	(1.08)	3.31
BCAT	0.58	(0.02)	0.00	(0.06)	0.00	0.00	1.57	(1.56)	4.21
CGBD	0.73	0.13	0.11	1.17	1.00	(0.73)	1.26	(1.35)	5.90
TPVG	1.28	0.06	0.03	0.11	2.00	(1.31)	2.54	(2.11)	11.46
HTGC	0.81	0.19	0.19	1.28	0.77	(0.90)	2.02	(1.32)	5.15
CSWC	0.74	0.03	0.03	0.11	0.91	(0.79)	1.51	(1.74)	3.87
ARCC	0.61	0.12	0.13	0.49	0.73	(0.66)	1.18	(1.53)	4.48
TCPC	1.00	0.12	0.08	0.41	1.37	(1.02)	2.03	(1.45)	7.39

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