Ab Equity Correlations

AUIAX Fund

USD 31.32 0.34 1.07%

The current 90-days correlation between Ab Equity Income and Short Real Estate is -0.66 (i.e., Excellent diversification). The correlation of Ab Equity 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 Equity Correlation With Market

Poor diversification

The correlation between Ab Equity Income and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab Equity Income 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 Equity Income. 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 AUIAX Mutual Fund

0.83	GCEAX	Ab Global E	Pair Corr
0.84	GCECX	Ab Global E	Pair Corr
0.83	GCEYX	Ab Global E	Pair Corr
0.78	AMTAX	Ab All Market	Pair Corr
0.77	AMTZX	Ab All Market	Pair Corr
0.77	AMTYX	Ab All Market	Pair Corr
0.77	AMTOX	Ab All Market	Pair Corr
0.69	APGZX	Ab Large Cap	Pair Corr
0.69	APGYX	Ab Large Cap	Pair Corr
0.69	APGAX	Ab Large Cap	Pair Corr

Moving against AUIAX Mutual Fund

0.45	AOHCX	Ab Ohio Portfolio	Pair Corr
0.37	ANJCX	Ab New Jersey	Pair Corr

Related Correlations Analysis

	SRPIX	NRSCX	VRGEX	NBRFX	BKRDX	FORFX	GMJPX
SRPIX		-0.37	-0.88	-0.99	-0.89	-0.25	-0.81	SRPIX
NRSCX	-0.37		0.29	0.37	0.36	0.24	0.27	NRSCX
VRGEX	-0.88	0.29		0.87	0.99	0.15	0.65	VRGEX
NBRFX	-0.99	0.37	0.87		0.87	0.16	0.78	NBRFX
BKRDX	-0.89	0.36	0.99	0.87		0.27	0.7	BKRDX
FORFX	-0.25	0.24	0.15	0.16	0.27		0.65	FORFX
GMJPX	-0.81	0.27	0.65	0.78	0.7	0.65		GMJPX
	SRPIX	NRSCX	VRGEX	NBRFX	BKRDX	FORFX	GMJPX

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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

BKRDX	+ 0.99	VRGEX
NBRFX	+ 0.87	VRGEX
BKRDX	+ 0.87	NBRFX
GMJPX	+ 0.78	NBRFX
GMJPX	+ 0.7	BKRDX
GMJPX	+ 0.65	VRGEX

High negative correlations

NBRFX	- 0.99	SRPIX
BKRDX	- 0.89	SRPIX
VRGEX	- 0.88	SRPIX
GMJPX	- 0.81	SRPIX
NRSCX	- 0.37	SRPIX
FORFX	- 0.25	SRPIX

Risk-Adjusted Indicators

There is a big difference between AUIAX Mutual Fund performing well and Ab Equity 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 Equity'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
SRPIX	0.88	0.02	0.26	(0.17)	0.82	(1.08)	2.02	(1.51)	6.06
NRSCX	0.18	0.01	0.51	0.01	0.22	(0.18)	0.31	(0.31)	1.00
VRGEX	0.69	(0.12)	0.00	0.46	0.00	0.00	1.31	(1.42)	4.60
NBRFX	0.87	(0.03)	0.00	(0.20)	0.00	0.00	1.44	(1.79)	4.51
BKRDX	0.70	(0.10)	0.00	0.41	0.00	0.00	1.26	(1.49)	4.30
FORFX	0.05	0.03	0.00	3.01	0.00	0.00	0.11	0.00	0.32
GMJPX	0.88	0.04	0.00	(0.07)	0.00	0.00	1.71	(2.37)	4.79

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