California Municipal Correlations

Mutual Funds . USA . 
Fund . California Municipal Portfolio
AICYX Fund  USD 13.80  0.01  0.07%   
The current 90-days correlation between California Municipal and Ab Global E is 0.12 (i.e., Average diversification). The correlation of California Municipal 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.

California Municipal Correlation With Market

Average diversification

The correlation between California Municipal Portfolio and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding California Municipal Portfolio 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 California Municipal Portfolio. 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 manufacturing.

Moving together with California Mutual Fund

  0.73GCEAX Ab Global EPairCorr
  0.73GCECX Ab Global EPairCorr
  0.73GCEYX Ab Global EPairCorr
  0.98AMNCX Ab Minnesota PortfolioPairCorr
  0.98AMNAX Ab Minnesota PortfolioPairCorr
  0.68AMTAX Ab All MarketPairCorr
  0.67AMTZX Ab All MarketPairCorr
  0.67AMTYX Ab All MarketPairCorr
  0.68AMTOX Ab All MarketPairCorr
  0.89ANAZX Ab Global BondPairCorr
  0.92ANAYX Ab Global BondPairCorr
  0.93ANAGX Ab Global BondPairCorr
  0.93ANAIX Ab Global BondPairCorr
  0.92ANACX Ab Global BondPairCorr
  0.83ANBIX Ab Bond InflationPairCorr
  0.97ANIAX New York MunicipalPairCorr
  0.96ANJAX Ab New JerseyPairCorr
  0.97ANJCX Ab New JerseyPairCorr
  0.97ANIYX New York MunicipalPairCorr
  0.98ANMCX New York MunicipalPairCorr
  0.97ANYCX Ab New YorkPairCorr
  0.65STEYX International StrategicPairCorr
  0.7STEZX International StrategicPairCorr
  0.7STESX International StrategicPairCorr
  0.86STHAX Ab Sustainable ThematicPairCorr
  0.91STHYX Ab Sustainable ThematicPairCorr
  0.91AOHAX Ab Ohio PortfolioPairCorr
  0.98AOHCX Ab Ohio PortfolioPairCorr
  0.98APAAX Ab Pennsylvania PortfolioPairCorr
  0.97APACX Ab Pennsylvania PortfolioPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between California Mutual Fund performing well and California Municipal 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 California Municipal'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
GCEAX  0.56 (0.08) 0.00 (0.80) 0.00 
 0.00 
 0.79 
(1.24)
 4.70 
GCECX  0.55 (0.08) 0.00 (0.73) 0.00 
 0.00 
 0.82 
(1.22)
 4.69 
GCEYX  0.56 (0.09) 0.00 (0.80) 0.00 
 0.00 
 0.79 
(1.24)
 5.18 
AMNCX  0.16 (0.04) 0.00 (0.69) 0.00 
 0.00 
 0.31 
(0.41)
 1.15 
AMNAX  0.16 (0.04) 0.00 (0.76) 0.00 
 0.00 
 0.31 
(0.42)
 1.15 
AMTAX  0.48 (0.11) 0.00 (0.73) 0.00 
 0.00 
 0.95 
(1.05)
 3.46 
AMTZX  0.48 (0.11) 0.00 (0.72) 0.00 
 0.00 
 0.97 
(1.06)
 3.42 
AMTYX  0.48 (0.11) 0.00 (0.70) 0.00 
 0.00 
 0.85 
(1.05)
 3.48 
AMTOX  0.49 (0.11) 0.00 (0.67) 0.00 
 0.00 
 0.98 
(1.08)
 3.45 
ANAZX  0.19 (0.04) 0.00 (1.11) 0.00 
 0.00 
 0.29 
(0.44)
 1.16 

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