Ab New Correlations

ALNYX Fund

USD 9.25 0.02 0.22%

The current 90-days correlation between Ab New York and Franklin Adjustable Government is 0.12 (i.e., Average 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

Average diversification

The correlation between Ab New York and DJI is 0.17 (i.e., Average 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

0.93	FKNRX	Franklin New York	Pair Corr
0.94	FNYZX	Franklin New York	Pair Corr
0.94	FKNQX	Franklin New York	Pair Corr
0.94	FKNCX	Franklin New York	Pair Corr
0.93	FKNIX	Franklin New York	Pair Corr
1.0	ALNVX	Ab New York	Pair Corr
0.99	ANYCX	Ab New York	Pair Corr
0.95	OWNYX	Old Westbury New	Pair Corr
0.66	KO	Coca Cola	Pair Corr
0.67	VZ	Verizon Communications	Pair Corr
0.63	CSCO	Cisco Systems	Pair Corr
0.75	T	ATT Inc Earnings Call This Week	Pair Corr
0.69	MCD	McDonalds	Pair Corr
0.72	IBM	International Business	Pair Corr

Moving against ALNYX Mutual Fund

0.7	RSNYX	Victory Global Natural	Pair Corr
0.7	RSNRX	Victory Global Natural	Pair Corr
0.59	RGNCX	Victory Global Natural	Pair Corr
0.55	SMPIX	Semiconductor Ultrasector	Pair Corr
0.52	SMPSX	Semiconductor Ultrasector	Pair Corr
0.66	AA	Alcoa Corp	Pair Corr
0.54	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	FCSCX	MXDQX	USGFX	UGSDX	DPIGX	CGTCX	GSOIX
FCSCX		0.84	0.89	0.9	0.98	0.87	0.86	FCSCX
MXDQX	0.84		0.95	0.62	0.89	0.99	0.99	MXDQX
USGFX	0.89	0.95		0.68	0.94	0.96	0.96	USGFX
UGSDX	0.9	0.62	0.68		0.85	0.68	0.65	UGSDX
DPIGX	0.98	0.89	0.94	0.85		0.92	0.91	DPIGX
CGTCX	0.87	0.99	0.96	0.68	0.92		1.0	CGTCX
GSOIX	0.86	0.99	0.96	0.65	0.91	1.0		GSOIX
	FCSCX	MXDQX	USGFX	UGSDX	DPIGX	CGTCX	GSOIX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FCSCX	0.06	0.01	0.58	(0.52)	0.00	(0.19)	0.13	(0.13)	0.66
MXDQX	0.22	0.01	0.27	0.31	0.21	(0.29)	0.50	(0.38)	1.26
USGFX	0.26	0.00	0.25	(0.14)	0.26	(0.32)	0.51	(0.43)	1.55
UGSDX	0.03	0.00	0.00	(0.24)	0.00	0.00	0.00	0.00	0.52
DPIGX	0.08	0.01	0.69	(0.88)	0.00	(0.14)	0.21	(0.11)	0.53
CGTCX	0.25	0.02	0.25	0.25	0.26	(0.29)	0.61	(0.43)	1.56
GSOIX	0.24	0.01	0.26	0.22	0.24	(0.28)	0.62	(0.46)	1.42

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