Abbey Capital Correlations

MAFCX Fund

USD 11.16 0.03 0.27%

The current 90-days correlation between Abbey Capital Multi and Artisan Small Cap is 0.48 (i.e., Very weak diversification). The correlation of Abbey Capital 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.

Abbey Capital Correlation With Market

Modest diversification

The correlation between Abbey Capital Multi and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Abbey Capital Multi and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Abbey Capital Multi. 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 Abbey Mutual Fund

1.0	MAFAX	Abbey Capital Multi	Pair Corr
1.0	MAFIX	Abbey Capital Multi	Pair Corr

Moving against Abbey Mutual Fund

0.55	QSPRX	Aqr Style Premia	Pair Corr
0.38	BXMYX	Blackstone Alternative	Pair Corr
0.38	BXMIX	Blackstone Alternative	Pair Corr
0.38	BXMDX	Blackstone Alternative	Pair Corr
0.63	MSTZX	Massmutual Premier	Pair Corr
0.55	DTRIX	Delaware Limited Term	Pair Corr
0.55	LCTIX	Leader Total Return	Pair Corr
0.49	APOGX	Short Duration Inflation	Pair Corr
0.49	ESFAX	Ashmore Emerging Markets	Pair Corr
0.41	OHSHX	Oakhurst Short Duration	Pair Corr
0.4	GMEPX	Goldman Sachs Asia	Pair Corr
0.63	IPFIX	Victory Incore	Pair Corr
0.61	MSTDX	Massmutual Premier	Pair Corr

Related Correlations Analysis

	ARTSX	FCSGX	OWSMX	QUAIX	TISVX	CIPNX	MSSGX	TVOYX
ARTSX		0.87	0.87	0.89	0.09	0.85	0.35	0.94	ARTSX
FCSGX	0.87		0.76	0.96	0.08	0.71	0.58	0.87	FCSGX
OWSMX	0.87	0.76		0.73	0.44	0.95	0.4	0.94	OWSMX
QUAIX	0.89	0.96	0.73		-0.09	0.75	0.55	0.84	QUAIX
TISVX	0.09	0.08	0.44	-0.09		0.21	0.23	0.27	TISVX
CIPNX	0.85	0.71	0.95	0.75	0.21		0.35	0.9	CIPNX
MSSGX	0.35	0.58	0.4	0.55	0.23	0.35		0.36	MSSGX
TVOYX	0.94	0.87	0.94	0.84	0.27	0.9	0.36		TVOYX
	ARTSX	FCSGX	OWSMX	QUAIX	TISVX	CIPNX	MSSGX	TVOYX

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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

QUAIX	+ 0.96	FCSGX
CIPNX	+ 0.95	OWSMX
TVOYX	+ 0.94	ARTSX
TVOYX	+ 0.94	OWSMX
TVOYX	+ 0.9	CIPNX
QUAIX	+ 0.89	ARTSX

High negative correlations

TISVX

- 0.09

QUAIX

Risk-Adjusted Indicators

There is a big difference between Abbey Mutual Fund performing well and Abbey Capital 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 Abbey Capital'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
ARTSX	1.04	(0.13)	0.00	(0.17)	0.00	0.00	2.14	(2.76)	7.68
FCSGX	0.88	(0.12)	0.00	(0.17)	0.00	0.00	1.56	(1.80)	5.55
OWSMX	0.56	(0.08)	0.00	(0.20)	0.00	0.00	1.03	(1.34)	4.08
QUAIX	1.07	(0.13)	0.00	(0.16)	0.00	0.00	1.54	(2.21)	6.18
TISVX	0.70	0.07	0.06	0.10	1.18	(0.69)	1.24	(1.43)	9.81
CIPNX	0.86	(0.14)	0.00	(0.23)	0.00	0.00	1.41	(1.78)	12.50
MSSGX	1.54	(0.03)	0.00	(0.06)	0.00	0.00	3.29	(2.85)	10.50
TVOYX	0.70	(0.07)	0.00	(0.11)	0.00	0.00	1.43	(1.59)	5.24

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