Ab California Correlations

Mutual Funds USA . 
Fund . Ab California Portfolio
ALCAX Fund  USD 10.47  0.02  0.19%   
The current 90-days correlation between Ab California Portfolio and Ab Global E is 0.04 (i.e., Significant diversification). The correlation of Ab California 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 California Correlation With Market

Good diversification

The correlation between Ab California Portfolio and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab California 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 Ab California 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 nation.

Moving together with ALCAX Mutual Fund

  0.99AMNCX Ab Minnesota PortfolioPairCorr
  0.93AMNAX Ab Minnesota PortfolioPairCorr
  0.9ANAZX Ab Global BondPairCorr
  0.9ANAYX Ab Global BondPairCorr
  0.9ANAGX Ab Global BondPairCorr
  0.9ANAIX Ab Global BondPairCorr
  0.88ANACX Ab Global BondPairCorr
  0.72ANBIX Ab Bond InflationPairCorr
  0.9ANIAX New York MunicipalPairCorr
  0.92ANJAX Ab New JerseyPairCorr
  0.99ANJCX Ab New JerseyPairCorr
  0.9ANIYX New York MunicipalPairCorr
  0.91ANMCX New York MunicipalPairCorr
  0.93ANYCX Ab New YorkPairCorr
  0.79STHAX Ab Sustainable ThematicPairCorr
  0.87STHYX Ab Sustainable ThematicPairCorr
  0.92AOHAX Ab Ohio PortfolioPairCorr
  0.92AOHCX Ab Ohio PortfolioPairCorr
  0.92APAAX Ab Pennsylvania PortfolioPairCorr
  0.91APACX Ab Pennsylvania PortfolioPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between ALCAX Mutual Fund performing well and Ab California 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 California'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 (0.11) 0.00 
 0.00 
 0.79 
(1.24)
 4.70 
GCECX  0.55 (0.08) 0.00 (0.11) 0.00 
 0.00 
 0.82 
(1.22)
 4.69 
GCEYX  0.56 (0.09) 0.00 (0.12) 0.00 
 0.00 
 0.79 
(1.24)
 5.18 
AMNCX  0.16 (0.04) 0.00  1.82  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 (0.97) 0.00 
 0.00 
 0.95 
(1.05)
 3.46 
AMTZX  0.49 (0.11) 0.00 (0.28) 0.00 
 0.00 
 0.97 
(1.06)
 3.42 
AMTYX  0.48 (0.11) 0.00 (0.90) 0.00 
 0.00 
 0.85 
(1.05)
 3.48 
AMTOX  0.50 (0.11) 0.00 (0.29) 0.00 
 0.00 
 0.98 
(1.08)
 3.45 
ANAZX  0.20 (0.04) 0.00 (0.99) 0.00 
 0.00 
 0.29 
(0.44)
 1.16 

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