Ab New Correlations

Mutual Funds USA . 
Fund . Ab New Jersey
ANJCX Fund  USD 9.09  0.01  0.11%   
The current 90-days correlation between Ab New Jersey and Auer Growth Fund is -0.03 (i.e., Good 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 Jersey and DJI is 0.09 (i.e., Significant 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 main economic indicators.

Moving together with ANJCX Mutual Fund

  0.86AMNCX Ab Minnesota PortfolioPairCorr
  0.88AMNAX Ab Minnesota PortfolioPairCorr
  0.83ANAZX Ab Global BondPairCorr
  0.88ANAYX Ab Global BondPairCorr
  0.83ANAGX Ab Global BondPairCorr
  0.88ANAIX Ab Global BondPairCorr
  0.93ANACX Ab Global BondPairCorr
  0.69ANBIX Ab Bond InflationPairCorr
  0.89ANIAX New York MunicipalPairCorr
  0.9ANJAX Ab New JerseyPairCorr
  0.9ANIYX New York MunicipalPairCorr
  0.9ANMCX New York MunicipalPairCorr
  0.99ANYCX Ab New YorkPairCorr
  0.61STESX International StrategicPairCorr
  0.78STHAX Ab Sustainable ThematicPairCorr
  0.78STHYX Ab Sustainable ThematicPairCorr
  0.9AOHAX Ab Ohio PortfolioPairCorr
  0.89AOHCX Ab Ohio PortfolioPairCorr
  0.86APAAX Ab Pennsylvania PortfolioPairCorr
  0.86APACX Ab Pennsylvania PortfolioPairCorr

Moving against ANJCX Mutual Fund

  0.37SUTCX Ab Sustainable ThematicPairCorr
  0.36SUTAX Ab Sustainable ThematicPairCorr
  0.35CHCZX Ab Discovery GrowthPairCorr

Related Correlations Analysis

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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   
OPTCX
+ 0.84
HRSTX
EICVX
+ 0.8
CPUCX
HRSTX
+ 0.78
CPUCX
HRSTX
+ 0.76
EICVX
OPTCX
+ 0.72
EICVX
OPTCX
+ 0.64
CPUCX
  
High negative correlations   
CPUCX
- 0.27
AUERX
EICVX
- 0.23
AUERX
OPTCX
- 0.21
XHYIX
HRSTX
- 0.16
XHYIX
OPTCX
- 0.16
AUERX
HRSTX
- 0.15
AUERX

Risk-Adjusted Indicators

There is a big difference between ANJCX 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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