Api Multi Correlations

AFFCX Fund

USD 7.72 0.01 0.13%

The current 90-days correlation between Api Multi Asset and Ashmore Emerging Markets is 0.28 (i.e., Modest diversification). The correlation of Api Multi 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.

Api Multi Correlation With Market

Good diversification

The correlation between Api Multi Asset Income and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Api Multi Asset Income 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 Api Multi Asset Income. 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 main economic indicators.

Moving together with Api Mutual Fund

0.92	APIBX	Api Short Term	Pair Corr
1.0	APIUX	Api Multi Asset	Pair Corr
0.9	APIMX	Api Short Term	Pair Corr
1.0	APIIX	Api Multi Asset	Pair Corr
0.96	AFFIX	Api Multi Asset	Pair Corr
0.92	AFMMX	Api Short Term	Pair Corr
0.94	PONAX	Pimco Income	Pair Corr
0.95	PONCX	Pimco Income	Pair Corr
0.94	PIPNX	Pimco Income	Pair Corr
0.94	PONRX	Pimco Income	Pair Corr
0.94	PONPX	Pimco Incme Fund	Pair Corr
0.94	PIINX	Pimco Income	Pair Corr
0.94	PIMIX	Pimco Income	Pair Corr
0.83	LBNDX	Lord Abbett Bond	Pair Corr
0.77	FSTAX	Fidelity Advisor Str	Pair Corr
0.77	FSRIX	Fidelity Advisor Str	Pair Corr
0.97	LIIAX	Columbia Porate Income	Pair Corr
0.97	SRINX	Columbia Porate Income	Pair Corr
0.76	AMFIX	Aama Income Fund	Pair Corr
0.84	SIDNX	Hartford Schroders	Pair Corr
0.61	LMAMX	Legg Mason Bw	Pair Corr
0.84	PAIGX	T Rowe Price	Pair Corr
0.82	MMCFX	Amg Managers Emerging	Pair Corr
0.74	JUCRX	Janus Global Unconst	Pair Corr
0.86	LIDAX	Lord Abbett International	Pair Corr
0.89	URITX	International Fund	Pair Corr
0.8	CDSIX	Calvert Short Duration	Pair Corr

Moving against Api Mutual Fund

0.4	AFGGX	Api Growth Fund	Pair Corr
0.34	APGRX	Api Growth Fund	Pair Corr
0.34	APITX	Api Growth Fund	Pair Corr

Related Correlations Analysis

	ELBIX	SWGXX	DTLXX	JRVXX	QCMMIX	PRELX	PBMXX	TIEXX
ELBIX		0.29	0.0	0.0	0.73	0.99	0.0	0.0	ELBIX
SWGXX	0.29		0.0	0.0	0.76	0.23	0.0	0.0	SWGXX
DTLXX	0.0	0.0		0.0	0.0	0.0	0.0	0.0	DTLXX
JRVXX	0.0	0.0	0.0		0.0	0.0	0.0	0.0	JRVXX
QCMMIX	0.73	0.76	0.0	0.0		0.69	0.0	0.0	QCMMIX
PRELX	0.99	0.23	0.0	0.0	0.69		0.0	0.0	PRELX
PBMXX	0.0	0.0	0.0	0.0	0.0	0.0		0.0	PBMXX
TIEXX	0.0	0.0	0.0	0.0	0.0	0.0	0.0		TIEXX
	ELBIX	SWGXX	DTLXX	JRVXX	QCMMIX	PRELX	PBMXX	TIEXX

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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

PRELX	+ 0.99	ELBIX
QCMMIX	+ 0.76	SWGXX
QCMMIX	+ 0.73	ELBIX
PRELX	+ 0.69	QCMMIX
SWGXX	+ 0.29	ELBIX
PRELX	+ 0.23	SWGXX

High negative correlations

TIEXX	- 0.0	PBMXX
TIEXX	- 0.0	PRELX
PBMXX	- 0.0	PRELX
TIEXX	- 0.0	QCMMIX
PBMXX	- 0.0	QCMMIX
TIEXX	- 0.0	JRVXX

Risk-Adjusted Indicators

There is a big difference between Api Mutual Fund performing well and Api Multi 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 Api Multi'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
ELBIX	0.33	0.03	0.33	1.11	0.28	(0.43)	0.64	(0.48)	1.73
SWGXX	0.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.01
DTLXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JRVXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
QCMMIX	0.02	0.01	0.00	(2.68)	0.00	0.00	0.03	0.00	0.03
PRELX	0.34	0.03	0.33	1.59	0.29	(0.44)	0.86	(0.44)	1.91
PBMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TIEXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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