Ab Pennsylvania Correlations

The current 90-days correlation between Ab Pennsylvania Portfolio and Fidelity Advisor Financial is 0.09 (i.e., Significant diversification). The correlation of Ab Pennsylvania 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 Pennsylvania Correlation With Market

Significant diversification

The correlation between Ab Pennsylvania Portfolio and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab Pennsylvania Portfolio and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios. 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 APAAX Mutual Fund

0.62	GCEAX	Ab Global E	Pair Corr
0.61	GCECX	Ab Global E	Pair Corr
0.84	AMNCX	Ab Minnesota Portfolio	Pair Corr
0.79	AMNAX	Ab Minnesota Portfolio	Pair Corr
0.91	ANAZX	Ab Global Bond	Pair Corr
0.93	ANAYX	Ab Global Bond	Pair Corr
0.9	ANAGX	Ab Global Bond	Pair Corr
0.93	ANAIX	Ab Global Bond	Pair Corr
0.76	ANBIX	Ab Bond Inflation	Pair Corr
0.91	ANIAX	New York Municipal	Pair Corr
0.86	ANIYX	New York Municipal	Pair Corr
0.89	ANMCX	New York Municipal	Pair Corr
0.72	STESX	International Strategic	Pair Corr
0.89	STHAX	Ab Sustainable Thematic	Pair Corr
0.88	AOHCX	Ab Ohio Portfolio	Pair Corr
0.86	APACX	Ab Pennsylvania Portfolio	Pair Corr
0.75	ARECX	Ab Global Real	Pair Corr
0.76	ARIIX	Ab Global Real	Pair Corr
0.76	ARRRX	Ab Global Real	Pair Corr
0.77	ARSYX	Ab Global Real	Pair Corr
0.72	AAZCX	Ab Arizona Portfolio	Pair Corr
0.78	AAZYX	Ab Municipal Income	Pair Corr
0.72	ABAEX	Ab Emerging Markets	Pair Corr
0.72	ABCEX	Ab Emerging Markets	Pair Corr

Moving against APAAX Mutual Fund

0.5	SUTCX	Ab Sustainable Thematic	Pair Corr
0.48	SCRYX	Small Cap Core	Pair Corr
0.48	CHCCX	Ab Discovery Growth	Pair Corr
0.47	CHCLX	Ab Discovery Growth	Pair Corr
0.46	SCCVX	Ab Small Cap	Pair Corr
0.44	SCRZX	Small Cap Core	Pair Corr
0.44	SUTAX	Ab Sustainable Thematic	Pair Corr
0.4	SCYVX	Ab Small Cap	Pair Corr
0.32	ABASX	Ab Discovery Value	Pair Corr

Related Correlations Analysis

	FIKBX	MSVIX	XFINX	FTIXX	PGFMX	GCFSX
FIKBX		0.82	0.54	0.0	0.6	0.38	FIKBX
MSVIX	0.82		0.38	0.0	0.28	-0.01	MSVIX
XFINX	0.54	0.38		0.0	0.45	0.42	XFINX
FTIXX	0.0	0.0	0.0		0.0	0.0	FTIXX
PGFMX	0.6	0.28	0.45	0.0		0.91	PGFMX
GCFSX	0.38	-0.01	0.42	0.0	0.91		GCFSX
	FIKBX	MSVIX	XFINX	FTIXX	PGFMX	GCFSX

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

GCFSX	+ 0.91	PGFMX
MSVIX	+ 0.82	FIKBX
PGFMX	+ 0.6	FIKBX
XFINX	+ 0.54	FIKBX
PGFMX	+ 0.45	XFINX
GCFSX	+ 0.42	XFINX

High negative correlations

GCFSX	- 0.01	MSVIX
GCFSX	- 0.0	FTIXX
PGFMX	- 0.0	FTIXX
FTIXX	- 0.0	XFINX
FTIXX	- 0.0	MSVIX
FTIXX	- 0.0	FIKBX

Risk-Adjusted Indicators

There is a big difference between APAAX Mutual Fund performing well and Ab Pennsylvania 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 Pennsylvania'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
FIKBX	0.85	0.00	0.00	(0.01)	1.29	(0.81)	1.73	(1.72)	6.29
MSVIX	0.86	(0.07)	0.00	0.86	0.00	0.00	1.60	(1.74)	4.25
XFINX	0.14	0.01	0.03	(0.40)	0.20	(0.18)	0.29	(0.28)	1.27
FTIXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PGFMX	0.38	0.01	0.03	(0.08)	0.42	(0.44)	0.85	(0.66)	2.21
GCFSX	0.74	0.11	0.10	(30.08)	0.87	(0.83)	1.80	(1.39)	4.68

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