Ab New Correlations

Mutual Funds . USA . 
Fund . Ab New York
ALNYX Fund  USD 9.34  0.01  0.11%   
The current 90-days correlation between Ab New York and Barings Emerging Markets is 0.42 (i.e., Very weak diversification). The correlation of Ab New 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 New Correlation With Market

Significant diversification

The correlation between Ab New York and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab New York 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 New York. 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 ALNYX Mutual Fund

  0.62GCEAX Ab Global EPairCorr
  0.64GCECX Ab Global EPairCorr
  0.94AMNCX Ab Minnesota PortfolioPairCorr
  0.99AMNAX Ab Minnesota PortfolioPairCorr
  0.74ANAZX Ab Global BondPairCorr
  0.7ANAYX Ab Global BondPairCorr
  0.8ANAGX Ab Global BondPairCorr
  0.81ANAIX Ab Global BondPairCorr
  0.8ANACX Ab Global BondPairCorr
  0.8ANIAX New York MunicipalPairCorr
  0.93ANJAX Ab New JerseyPairCorr
  0.93ANJCX Ab New JerseyPairCorr
  0.86ANIYX New York MunicipalPairCorr
  0.86ANMCX New York MunicipalPairCorr
  0.94ANYCX Ab New YorkPairCorr
  0.85STHAX Ab Sustainable ThematicPairCorr
  0.8STHYX Ab Sustainable ThematicPairCorr
  0.95AOHAX Ab Ohio PortfolioPairCorr
  0.95AOHCX Ab Ohio PortfolioPairCorr
  0.84SCAVX Ab Small CapPairCorr
  0.71SCCVX Ab Small CapPairCorr
  0.97APAAX Ab Pennsylvania PortfolioPairCorr
  0.92APACX Ab Pennsylvania PortfolioPairCorr
  0.76SCRSX Small Cap CorePairCorr
  0.76SCRYX Small Cap CorePairCorr
  0.76SCRZX Small Cap CorePairCorr
  0.75SCYVX Ab Small CapPairCorr
  0.7APGZX Ab Large CapPairCorr
  0.69APGYX Ab Large CapPairCorr
  0.71APGAX Ab Large CapPairCorr
  0.74APGCX Ab Large CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between ALNYX Mutual Fund performing well and Ab New 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 New'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.

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