Api Growth Correlations

Mutual Funds . USA . 
Fund . Api Growth Fund
AFGGX Fund  USD 19.40  0.02  0.10%   
The current 90-days correlation between Api Growth Fund and Api Growth Fund is 0.34 (i.e., Weak diversification). The correlation of Api Growth 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 Growth Correlation With Market

Very weak diversification

The correlation between Api Growth Fund and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Api Growth Fund 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 Growth Fund. 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 price.

Moving together with Api Mutual Fund

  0.93APGRX Api Growth FundPairCorr
  0.68APIUX Api Multi AssetPairCorr
  0.93APITX Api Growth FundPairCorr
  0.7APIIX Api Multi AssetPairCorr
  0.91YOVIX Yorktown Small CapPairCorr
  0.98YOVLX Yorktown Small CapPairCorr
  0.91YOVAX Yorktown Small CapPairCorr
  0.68AFFIX Api Multi AssetPairCorr
  0.87FSWFX American Funds SmallcapPairCorr
  0.87FSFWX American Funds SmallcapPairCorr
  0.86SCWCX American Fds SmallcapPairCorr
  0.86SCWFX Smallcap WorldPairCorr
  0.86SMCWX Smallcap WorldPairCorr
  0.87CSPFX Smallcap WorldPairCorr
  0.86CSPAX Smallcap WorldPairCorr
  0.86CSPEX Smallcap WorldPairCorr
  0.86RSLCX Smallcap WorldPairCorr
  0.87RLLGX Smallcap WorldPairCorr
  0.8ASG Liberty All StarPairCorr
  0.66CRF Cornerstone StrategicPairCorr
  0.94USA Liberty All StarPairCorr
  0.76NFJ Virtus Dividend InterestPairCorr
  0.89WSDAX Westwood Short DurationPairCorr
  0.82WLGAX Ivy Large CapPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Api Mutual Fund performing well and Api Growth 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 Growth'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
APGRX  0.73  0.04  0.01  0.22  0.92 
(0.77)
 1.65 
(1.18)
 6.94 
APIBX  0.09 (0.01)(0.18)(0.14) 0.10 
(0.29)
 0.24 
(0.24)
 0.73 
APIUX  0.16 (0.02) 0.00 (0.33) 0.00 
 0.00 
 0.35 
(0.35)
 0.94 
APITX  0.74  0.03  0.00  0.20  0.94 
(0.79)
 1.66 
(1.18)
 7.09 
APIMX  0.08 (0.01)(0.16)(0.51) 0.08 
(0.26)
 0.26 
(0.26)
 0.52 
APIIX  0.16 (0.02) 0.00 (0.36) 0.00 
 0.00 
 0.33 
(0.33)
 1.00 
YOVIX  0.84  0.07  0.03  0.53  1.12 
(0.87)
 1.67 
(1.23)
 8.73 
YOVLX  0.84  0.05  0.03  0.13  1.10 
(0.85)
 1.69 
(1.28)
 8.67 
YOVAX  0.84  0.07  0.03  0.52  1.13 
(0.85)
 1.70 
(1.26)
 8.71 
AFFIX  0.17 (0.02) 0.00 (0.43) 0.00 
 0.00 
 0.38 
(0.38)
 1.02 

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