Ab Pennsylvania Correlations

APACX Fund

USD 9.65 0.03 0.31%

The current 90-days correlation between Ab Pennsylvania Portfolio and Financials Ultrasector Profund is -0.02 (i.e., Good 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

Good diversification

The correlation between Ab Pennsylvania Portfolio and DJI is -0.09 (i.e., Good 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, which includes a position in Ab Pennsylvania Portfolio. 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 APACX Mutual Fund

0.86	AMNCX	Ab Minnesota Portfolio	Pair Corr
0.97	AMNAX	Ab Minnesota Portfolio	Pair Corr
0.82	ANAZX	Ab Global Bond	Pair Corr
0.88	ANAYX	Ab Global Bond	Pair Corr
0.8	ANAGX	Ab Global Bond	Pair Corr
0.87	ANAIX	Ab Global Bond	Pair Corr
0.74	ANACX	Ab Global Bond	Pair Corr
0.8	ANBIX	Ab Bond Inflation	Pair Corr
0.86	ANIAX	New York Municipal	Pair Corr
0.75	ANJAX	Ab New Jersey	Pair Corr
0.73	ANJCX	Ab New Jersey	Pair Corr
0.78	ANIYX	New York Municipal	Pair Corr
0.85	ANMCX	New York Municipal	Pair Corr
0.71	ANYCX	Ab New York	Pair Corr
0.64	STEYX	International Strategic	Pair Corr
0.64	STEZX	International Strategic	Pair Corr
0.7	STESX	International Strategic	Pair Corr
0.87	STHAX	Ab Sustainable Thematic	Pair Corr
0.77	STHYX	Ab Sustainable Thematic	Pair Corr
0.77	AOHAX	Ab Ohio Portfolio	Pair Corr
0.86	APAAX	Ab Pennsylvania Portfolio	Pair Corr

Moving against APACX Mutual Fund

0.57	SCCVX	Ab Small Cap	Pair Corr
0.56	SCAVX	Ab Small Cap	Pair Corr
0.54	SCRYX	Small Cap Core	Pair Corr
0.48	SCRSX	Small Cap Core	Pair Corr
0.58	CHCZX	Ab Discovery Growth	Pair Corr
0.57	CHCLX	Ab Discovery Growth	Pair Corr
0.57	CHCCX	Ab Discovery Growth	Pair Corr
0.55	SCRZX	Small Cap Core	Pair Corr
0.55	CHCIX	Ab Discovery Growth	Pair Corr
0.55	CHCYX	Ab Discovery Growth	Pair Corr

Related Correlations Analysis

	FNPIX	FTIXX	IAAEX	FIKBX	SBFAX	PGFMX	DVFYX
FNPIX		0.0	0.76	0.86	0.99	0.87	0.97	FNPIX
FTIXX	0.0		0.0	0.0	0.0	0.0	0.0	FTIXX
IAAEX	0.76	0.0		0.6	0.71	0.81	0.83	IAAEX
FIKBX	0.86	0.0	0.6		0.86	0.6	0.78	FIKBX
SBFAX	0.99	0.0	0.71	0.86		0.84	0.95	SBFAX
PGFMX	0.87	0.0	0.81	0.6	0.84		0.93	PGFMX
DVFYX	0.97	0.0	0.83	0.78	0.95	0.93		DVFYX
	FNPIX	FTIXX	IAAEX	FIKBX	SBFAX	PGFMX	DVFYX

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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

SBFAX	+ 0.99	FNPIX
DVFYX	+ 0.97	FNPIX
DVFYX	+ 0.95	SBFAX
DVFYX	+ 0.93	PGFMX
PGFMX	+ 0.87	FNPIX
FIKBX	+ 0.86	FNPIX

High negative correlations

DVFYX	- 0.0	FTIXX
PGFMX	- 0.0	FTIXX
SBFAX	- 0.0	FTIXX
FIKBX	- 0.0	FTIXX
IAAEX	- 0.0	FTIXX
FTIXX	- 0.0	FNPIX

Risk-Adjusted Indicators

There is a big difference between APACX 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
FNPIX	1.23	0.03	0.02	1.32	1.72	(1.27)	2.66	(2.77)	9.08
FTIXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IAAEX	0.67	0.01	0.02	(0.11)	0.69	(0.80)	1.40	(1.19)	3.24
FIKBX	0.85	0.00	0.00	(0.01)	1.29	(0.81)	1.73	(1.72)	6.29
SBFAX	0.74	0.01	0.01	(0.64)	1.00	(0.84)	1.69	(1.32)	5.22
PGFMX	0.38	0.01	0.03	(0.08)	0.42	(0.44)	0.85	(0.66)	2.21
DVFYX	0.83	0.07	0.06	(7.67)	1.08	(0.85)	1.65	(1.41)	6.47

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