Ab New Correlations

ANJAX Fund

USD 9.16 0.03 0.33%

The current 90-days correlation between Ab New Jersey and Dodge Cox Stock is 0.33 (i.e., 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

Average diversification

The correlation between Ab New Jersey and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab New Jersey 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 Jersey. 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 ANJAX Mutual Fund

0.66	GCEAX	Ab Global E	Pair Corr
0.67	GCECX	Ab Global E	Pair Corr
0.66	GCEYX	Ab Global E	Pair Corr
0.97	AMNCX	Ab Minnesota Portfolio	Pair Corr
0.91	AMNAX	Ab Minnesota Portfolio	Pair Corr
0.83	ANAZX	Ab Global Bond	Pair Corr
0.86	ANAGX	Ab Global Bond	Pair Corr
0.88	ANAIX	Ab Global Bond	Pair Corr
0.89	ANACX	Ab Global Bond	Pair Corr
0.9	ANIAX	New York Municipal	Pair Corr
1.0	ANJCX	Ab New Jersey	Pair Corr
0.87	ANIYX	New York Municipal	Pair Corr
0.96	ANMCX	New York Municipal	Pair Corr
0.94	STHAX	Ab Sustainable Thematic	Pair Corr
0.89	STHYX	Ab Sustainable Thematic	Pair Corr
0.76	SCAVX	Ab Small Cap	Pair Corr
0.98	APAAX	Ab Pennsylvania Portfolio	Pair Corr
0.94	APACX	Ab Pennsylvania Portfolio	Pair Corr
0.71	SCRSX	Small Cap Core	Pair Corr
0.71	SCRYX	Small Cap Core	Pair Corr
0.76	SCYVX	Ab Small Cap	Pair Corr
0.74	APGZX	Ab Large Cap	Pair Corr
0.69	APGYX	Ab Large Cap	Pair Corr
0.7	APGAX	Ab Large Cap	Pair Corr
0.71	SUTAX	Ab Sustainable Thematic	Pair Corr
0.66	SUTZX	Ab Sustainable Thematic	Pair Corr
0.68	APWIX	Ab Servative Wealth	Pair Corr
0.79	ARECX	Ab Global Real	Pair Corr

Related Correlations Analysis

	DOXGX	LGPSX	LTFOX	CMIFX	OLGCX	WILCX	ALCKX
DOXGX		0.24	0.83	0.42	0.48	0.79	0.58	DOXGX
LGPSX	0.24		-0.1	0.62	0.82	-0.21	0.05	LGPSX
LTFOX	0.83	-0.1		0.0	0.28	0.87	0.7	LTFOX
CMIFX	0.42	0.62	0.0		0.33	-0.04	-0.27	CMIFX
OLGCX	0.48	0.82	0.28	0.33		0.23	0.55	OLGCX
WILCX	0.79	-0.21	0.87	-0.04	0.23		0.73	WILCX
ALCKX	0.58	0.05	0.7	-0.27	0.55	0.73		ALCKX
	DOXGX	LGPSX	LTFOX	CMIFX	OLGCX	WILCX	ALCKX

Click cells to compare fundamentals

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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

WILCX	+ 0.87	LTFOX
LTFOX	+ 0.83	DOXGX
OLGCX	+ 0.82	LGPSX
WILCX	+ 0.79	DOXGX
ALCKX	+ 0.73	WILCX
ALCKX	+ 0.7	LTFOX

High negative correlations

ALCKX	- 0.27	CMIFX
WILCX	- 0.21	LGPSX
LTFOX	- 0.1	LGPSX
WILCX	- 0.04	CMIFX
CMIFX	- 0.0	LTFOX

Risk-Adjusted Indicators

There is a big difference between ANJAX 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
DOXGX	0.49	0.01	0.01	0.02	0.74	(0.46)	1.16	(1.04)	3.27
LGPSX	0.86	0.02	0.02	0.05	1.16	(0.90)	1.65	(1.88)	6.05
LTFOX	0.59	(0.06)	0.00	1.00	0.00	0.00	1.08	(1.37)	5.09
CMIFX	0.06	0.01	0.04	(0.60)	0.00	(0.11)	0.10	(0.10)	0.42
OLGCX	0.85	(0.01)	(0.01)	(0.01)	1.22	(0.83)	1.64	(1.99)	5.32
WILCX	0.55	(0.02)	0.00	(0.04)	0.00	0.00	0.85	(1.19)	6.73
ALCKX	0.94	(0.09)	0.00	(0.15)	0.00	0.00	1.46	(2.20)	8.34

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