Ancora Microcap Correlations

ANCIX Fund

USD 15.19 0.20 1.30%

The current 90-days correlation between Ancora Microcap and Adams Natural Resources is 0.39 (i.e., Weak diversification). The correlation of Ancora Microcap 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.

Ancora Microcap Correlation With Market

Very weak diversification

The correlation between Ancora Microcap Fund and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ancora Microcap 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 Ancora Microcap 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 gross domestic product.

Moving together with Ancora Mutual Fund

0.98	AATSX	Ancora/thelen Small-mid	Pair Corr
0.99	AATIX	Ancora/thelen Small-mid	Pair Corr
0.92	ADEIX	Proxy Voting Where	Pair Corr
0.82	VSIIX	Vanguard Small Cap	Pair Corr
0.83	VISVX	Vanguard Small Cap	Pair Corr
0.85	DFSVX	Us Small Cap	Pair Corr
0.84	DFFVX	Us Targeted Value	Pair Corr
0.78	UBVCX	Undiscovered Managers	Pair Corr
0.77	UBVAX	Undiscovered Managers	Pair Corr
0.77	UBVSX	Undiscovered Managers	Pair Corr
0.93	AVFIX	American Beacon Small	Pair Corr
0.7	CISGX	Touchstone Sands Capital	Pair Corr

Moving against Ancora Mutual Fund

0.61	UGPIX	Ultrachina Profund	Pair Corr
0.61	UGPSX	Ultrachina Profund	Pair Corr
0.57	PMPIX	Precious Metals Ultr Steady Growth	Pair Corr
0.83	UIPIX	Ultrashort Mid Cap	Pair Corr
0.79	ACTVX	Zero Pon 2025	Pair Corr
0.78	EKIZX	Wells Fargo Adjustable	Pair Corr
0.74	GILHX	Guggenheim Limited	Pair Corr
0.61	VUSIX	Invesco Quality Income	Pair Corr
0.6	NWHLX	Nationwide Bailard	Pair Corr
0.54	JMTCX	Jpmorgan Total Return	Pair Corr
0.46	VCRCX	Mainstay Cbre Global	Pair Corr
0.31	LNYAX	Columbia Amt Free	Pair Corr
0.31	PCGAX	Prudential Income Builder	Pair Corr
0.77	MUAIX	Ultra Short Income	Pair Corr
0.77	AGVCX	Invesco Government	Pair Corr
0.6	FMSCX	Fidelity Advisor Mortgage	Pair Corr
0.56	PYCWX	Payden E Bond	Pair Corr
0.56	XNCVX	Allianzgi Convertible	Pair Corr
0.56	SCFIX	Shenkman Short Duration	Pair Corr

Related Correlations Analysis

	PEO	ALEFX	HNRGX	GRHAX	TREIX	BACCX	IGNAX
PEO		0.89	0.96	0.66	0.48	0.95	0.76	PEO
ALEFX	0.89		0.93	0.73	0.46	0.92	0.77	ALEFX
HNRGX	0.96	0.93		0.8	0.37	0.97	0.86	HNRGX
GRHAX	0.66	0.73	0.8		-0.06	0.77	0.93	GRHAX
TREIX	0.48	0.46	0.37	-0.06		0.4	-0.02	TREIX
BACCX	0.95	0.92	0.97	0.77	0.4		0.8	BACCX
IGNAX	0.76	0.77	0.86	0.93	-0.02	0.8		IGNAX
	PEO	ALEFX	HNRGX	GRHAX	TREIX	BACCX	IGNAX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

BACCX	+ 0.97	HNRGX
HNRGX	+ 0.96	PEO
BACCX	+ 0.95	PEO
HNRGX	+ 0.93	ALEFX
IGNAX	+ 0.93	GRHAX
BACCX	+ 0.92	ALEFX

High negative correlations

TREIX	- 0.06	GRHAX
IGNAX	- 0.02	TREIX

Risk-Adjusted Indicators

There is a big difference between Ancora Mutual Fund performing well and Ancora Microcap 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 Ancora Microcap'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
PEO	0.87	0.09	0.10	0.14	1.20	(0.77)	1.79	(1.87)	5.71
ALEFX	0.98	0.14	0.11	0.16	1.29	(1.03)	1.96	(2.27)	6.21
HNRGX	0.91	0.09	0.08	0.09	1.40	(0.83)	1.80	(2.30)	5.81
GRHAX	1.18	0.05	0.04	0.01	1.89	(1.08)	2.46	(3.31)	8.53
TREIX	0.07	0.02	0.53	2.63	0.00	(0.13)	0.20	(0.10)	0.60
BACCX	0.85	0.10	0.10	0.12	1.26	(0.81)	1.49	(2.08)	5.48
IGNAX	0.94	0.03	0.00	(0.03)	0.00	0.00	1.67	(2.05)	5.39

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