Ab Global Correlations

GCECX Fund  USD 17.08  0.04  0.23%   
The correlation of Ab Global 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 Global Correlation With Market

Good diversification

The correlation between Ab Global E and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab Global E and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Ab Global E. 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 GCECX Mutual Fund

  0.93FCWGX American Funds CapitalPairCorr
  0.94FWCGX American Funds CapitalPairCorr
  0.92CWGIX Capital World GrowthPairCorr
  0.71CWGFX Capital World GrowthPairCorr
  0.83CWGCX Capital World GrowthPairCorr
  0.7RWIFX Capital World GrowthPairCorr
  0.71CWICX Capital World GrowthPairCorr
  0.71RWIAX Capital World GrowthPairCorr
  0.92CWIAX Capital World GrowthPairCorr
  0.85WGIFX Capital World GrowthPairCorr
  0.63XPPRX Voya Prime RatePairCorr
  0.68PCF Putnam High IncomePairCorr
  0.61MMM 3M CompanyPairCorr
  0.73DD Dupont De NemoursPairCorr
  0.68GE GE AerospacePairCorr
  0.65IBM International BusinessPairCorr

Moving against GCECX Mutual Fund

  0.69MRK Merck CompanyPairCorr

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   
SWGXXQCMMIX
QCMMIX0P000070L2
JHMXX0P000070L2
ELMXX0P000070L2
SWGXX0P000070L2
AEAXX0P000070L2
  
High negative correlations   
PFCXXAEAXX
PFCXXSWGXX
AEAXXSWGXX
PFCXXELMXX
AEAXXELMXX
SWGXXELMXX

Risk-Adjusted Indicators

There is a big difference between GCECX Mutual Fund performing well and Ab Global 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 Global'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.