Absolute Capital Correlations

ACMIX Fund

USD 11.48 0.02 0.17%

The current 90-days correlation between Absolute Capital Defender and Icon Financial Fund is 0.32 (i.e., Weak 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 Defender and DJI is 0.94 (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 Defender 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 Defender. 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

0.99	AAMIX	Absolute Capital Asset	Pair Corr
0.99	AAMAX	Absolute Capital Asset	Pair Corr
0.99	AAMCX	Absolute Capital Asset	Pair Corr
0.95	ACMDX	Absolute Capital Defender	Pair Corr
0.95	ACMAX	Absolute Capital Defender	Pair Corr
0.88	VFINX	Vanguard 500 Index	Pair Corr
0.75	FTQGX	Fidelity Focused Stock	Pair Corr
0.94	ELFNX	Elfun Trusts Elfun	Pair Corr
0.97	VTSAX	Vanguard Total Stock	Pair Corr
0.88	VFIAX	Vanguard 500 Index	Pair Corr
0.76	RNGHX	New Economy Fund	Pair Corr
0.71	JHEIX	Equity Income	Pair Corr
0.88	VAADX	Virtus Convertible	Pair Corr
0.94	FGRIX	Fidelity Growth Income	Pair Corr
0.9	FZROX	Fidelity Zero Total	Pair Corr
0.86	FTRNX	Fidelity Trend	Pair Corr
0.88	GVCAX	Gabelli Value	Pair Corr
0.92	AMGOX	Alger Mid Cap	Pair Corr
0.92	CLM	Cornerstone Strategic	Pair Corr
0.68	FIUIX	Fidelity Telecom And	Pair Corr
0.98	USPRX	Sp 500 Index	Pair Corr
0.91	KNPAX	Kinetics Paradigm	Pair Corr

Moving against Absolute Mutual Fund

0.64	NHS	Neuberger Berman High	Pair Corr
0.57	PFHCX	Pacific Funds Small	Pair Corr
0.34	PAUPX	Pimco All Asset	Pair Corr
0.33	PAUIX	Pimco All Asset	Pair Corr
0.43	PDI	Pimco Dynamic Income	Pair Corr

Related Correlations Analysis

	ICFAX	GCFSX	XFINX	BTO	VFAIX	MCBXX	FTIXX
ICFAX		-0.04	-0.49	-0.16	-0.11	0.0	0.0	ICFAX
GCFSX	-0.04		0.7	0.95	0.95	0.0	0.0	GCFSX
XFINX	-0.49	0.7		0.75	0.73	0.0	0.0	XFINX
BTO	-0.16	0.95	0.75		0.99	0.0	0.0	BTO
VFAIX	-0.11	0.95	0.73	0.99		0.0	0.0	VFAIX
MCBXX	0.0	0.0	0.0	0.0	0.0		0.0	MCBXX
FTIXX	0.0	0.0	0.0	0.0	0.0	0.0		FTIXX
	ICFAX	GCFSX	XFINX	BTO	VFAIX	MCBXX	FTIXX

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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

VFAIX	+ 0.99	BTO
BTO	+ 0.95	GCFSX
VFAIX	+ 0.95	GCFSX
BTO	+ 0.75	XFINX
VFAIX	+ 0.73	XFINX
XFINX	+ 0.7	GCFSX

High negative correlations

XFINX	- 0.49	ICFAX
BTO	- 0.16	ICFAX
VFAIX	- 0.11	ICFAX
GCFSX	- 0.04	ICFAX
FTIXX	- 0.0	MCBXX
FTIXX	- 0.0	VFAIX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ICFAX	0.90	(0.19)	0.00	(0.17)	0.00	0.00	1.43	(2.58)	18.69
GCFSX	0.60	0.03	0.01	0.21	0.73	(0.78)	1.52	(1.30)	6.07
XFINX	0.11	0.00	(0.07)	(0.03)	0.21	(0.13)	0.21	(0.21)	1.14
BTO	1.03	0.06	0.05	0.06	1.31	(1.04)	1.88	(1.71)	13.54
VFAIX	0.77	0.06	0.07	0.07	0.89	(0.85)	1.77	(1.34)	10.75
MCBXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FTIXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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