Abbey Capital Correlations

MAFCX Fund  USD 10.80  0.05  0.46%   
The current 90-days correlation between Abbey Capital Multi and Ambrus Core Bond is -0.21 (i.e., Very good 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

Very weak diversification

The correlation between Abbey Capital Multi and DJI is 0.47 (i.e., Very weak 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

  0.86ABYIX Abbey Capital FuturesPairCorr
  0.86ABYAX Abbey Capital FuturesPairCorr
  0.87ABYCX Abbey Capital FuturesPairCorr
  1.0MAFAX Abbey Capital MultiPairCorr
  1.0MAFIX Abbey Capital MultiPairCorr

Moving against Abbey Mutual Fund

  0.7QSPRX Aqr Style PremiaPairCorr
  0.55BIMBX Blackrock AlternativePairCorr
  0.55BAMBX Blackrock AlternativePairCorr
  0.55BKMBX Blackrock SystematicPairCorr
  0.53BMBCX Blackrock AlternativePairCorr
  0.52NHS Neuberger Berman HighPairCorr
  0.84VSGDX Vanguard Short TermPairCorr
  0.79CIHCX Cullen International HighPairCorr
  0.78VTAPX Vanguard Short TermPairCorr
  0.77HRBDX Harbor Bond FundPairCorr
  0.75LIRRX Lord Abbett InternationalPairCorr
  0.72EPDPX Europac InternationalPairCorr
  0.68VMLTX Vanguard Limited TermPairCorr
  0.67PYCTX Payden RygelPairCorr
  0.56SAEMX Sa Emerging MarketsPairCorr
  0.45VGWAX Vanguard Global WellPairCorr
  0.33CTYCX American Funds LegePairCorr
  0.86AMAPX Amana ParticipationPairCorr
  0.82TASTX Transamerica Short TermPairCorr
  0.79USGDX Morgan Stanley GovernmentPairCorr
  0.78PSDNX Putnam Ultra ShortPairCorr
  0.77BISMX Brandes InternationalPairCorr
  0.76ABNOX Ab Bond InflationPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.