Ab Discovery Correlations

Mutual Funds USA . 
Fund . Ab Discovery Value
ABSIX Fund  USD 21.35  0.12  0.57%   
The current 90-days correlation between Ab Discovery Value and Lord Abbett Affiliated is 0.54 (i.e., Very weak diversification). The correlation of Ab Discovery 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 Discovery Correlation With Market

Modest diversification

The correlation between Ab Discovery Value and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab Discovery Value 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 Ab Discovery Value. 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 ABSIX Mutual Fund

  0.87GCEAX Ab Global EPairCorr
  0.87GCECX Ab Global EPairCorr
  0.87GCEYX Ab Global EPairCorr
  0.71AMNCX Ab Minnesota PortfolioPairCorr
  0.65AMNAX Ab Minnesota PortfolioPairCorr
  0.77AMTAX Ab All MarketPairCorr
  0.77AMTZX Ab All MarketPairCorr
  0.77AMTYX Ab All MarketPairCorr
  0.77AMTOX Ab All MarketPairCorr
  0.62ANJCX Ab New JerseyPairCorr
  0.69ANYCX Ab New YorkPairCorr
  0.78STHAX Ab Sustainable ThematicPairCorr
  0.75STHYX Ab Sustainable ThematicPairCorr
  0.65AOHCX Ab Ohio PortfolioPairCorr
  0.81SCAVX Ab Small CapPairCorr
  0.83SCCVX Ab Small CapPairCorr
  0.62APAAX Ab Pennsylvania PortfolioPairCorr
  0.65APACX Ab Pennsylvania PortfolioPairCorr
  0.98SCRSX Small Cap CorePairCorr
  0.98SCRYX Small Cap CorePairCorr
  0.98SCRZX Small Cap CorePairCorr
  0.81SCYVX Ab Small CapPairCorr
  0.84APGZX Ab Large CapPairCorr
  0.84APGYX Ab Large CapPairCorr
  0.87APGAX Ab Large CapPairCorr
  0.92APGCX 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   
ABSRX
+ 1.0
ABSKX
ABYSX
+ 0.86
LAFYX
ABYSX
+ 0.76
PSCZX
PSCZX
+ 0.61
LAFYX
  
High negative correlations   
ABSKX
- 0.48
PSCZX
ABSRX
- 0.47
PSCZX
ABYSX
- 0.41
ABSKX
ABYSX
- 0.4
ABSRX
ABSKX
- 0.05
LAFYX
ABSRX
- 0.04
LAFYX

Risk-Adjusted Indicators

There is a big difference between ABSIX Mutual Fund performing well and Ab Discovery 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 Discovery'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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