Ab Tax Correlations

TAFI Etf

USD 25.23 0.04 0.16%

The current 90-days correlation between Ab Tax Aware and AB Ultra Short is 0.34 (i.e., Weak diversification). The correlation of Ab Tax 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.

Ab Tax Correlation With Market

Significant diversification

The correlation between Ab Tax Aware Short and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab Tax Aware Short and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Ab Tax Aware Short. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with TAFI Etf

0.92	SUB	iShares Short Term	Pair Corr
0.92	SHM	SPDR Nuveen Bloomberg	Pair Corr
0.86	JMST	JPMorgan Ultra Short	Pair Corr
0.78	DFNM	Dimensional ETF Trust	Pair Corr
0.95	MEAR	iShares Short Maturity	Pair Corr
0.95	FSMB	First Trust Short	Pair Corr
0.94	SMB	VanEck Short Muni	Pair Corr
0.79	FUMB	First Trust Ultra	Pair Corr
0.65	PVI	Invesco VRDO Tax	Pair Corr
0.64	RXI	iShares Global Consumer	Pair Corr
0.66	MCD	McDonalds	Pair Corr
0.85	IBM	International Business Sell-off Trend	Pair Corr
0.81	GE	GE Aerospace	Pair Corr
0.8	MMM	3M Company	Pair Corr
0.74	JPM	JPMorgan Chase	Pair Corr
0.9	T	ATT Inc Aggressive Push	Pair Corr
0.75	WMT	Walmart Aggressive Push	Pair Corr
0.82	JNJ	Johnson Johnson	Pair Corr

Moving against TAFI Etf

0.56	URNM	Sprott Uranium Miners	Pair Corr
0.53	USD	ProShares Ultra Semi	Pair Corr
0.32	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.72	MRK	Merck Company Aggressive Push	Pair Corr
0.51	MSFT	Microsoft	Pair Corr
0.41	AA	Alcoa Corp	Pair Corr
0.36	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.44	0.59	-0.64	0.75	0.3	-0.21	0.85	-0.83	-0.29	META
MSFT	-0.44		-0.65	0.39	-0.6	0.27	0.76	-0.51	0.62	-0.09	MSFT
UBER	0.59	-0.65		-0.2	0.75	-0.09	-0.53	0.74	-0.76	0.39	UBER
F	-0.64	0.39	-0.2		-0.38	0.04	0.44	-0.39	0.64	0.72	F
T	0.75	-0.6	0.75	-0.38		-0.17	-0.42	0.69	-0.78	0.07	T
A	0.3	0.27	-0.09	0.04	-0.17		0.3	0.44	0.04	-0.13	A
CRM	-0.21	0.76	-0.53	0.44	-0.42	0.3		-0.31	0.47	0.01	CRM
JPM	0.85	-0.51	0.74	-0.39	0.69	0.44	-0.31		-0.79	0.01	JPM
MRK	-0.83	0.62	-0.76	0.64	-0.78	0.04	0.47	-0.79		0.12	MRK
XOM	-0.29	-0.09	0.39	0.72	0.07	-0.13	0.01	0.01	0.12		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.85	META
CRM	+ 0.76	MSFT
T	+ 0.75	META
T	+ 0.75	UBER
JPM	+ 0.74	UBER
XOM	+ 0.72	F

High negative correlations

MRK	- 0.83	META
MRK	- 0.79	JPM
MRK	- 0.78	T
MRK	- 0.76	UBER
UBER	- 0.65	MSFT
F	- 0.64	META

Ab Tax Competition Risk-Adjusted Indicators

There is a big difference between TAFI Etf performing well and Ab Tax ETF 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 Tax'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
META	1.36	0.28	0.17	0.57	1.44	(1.42)	3.22	(2.29)	7.11
MSFT	1.03	(0.05)	0.00	(0.16)	0.00	0.00	2.20	(1.90)	10.31
UBER	1.95	0.16	0.06	3.78	2.78	(1.95)	4.72	(3.13)	12.29
F	1.35	(0.11)	0.00	(0.13)	0.00	0.00	2.55	(2.89)	10.97
T	0.94	0.30	0.27	0.50	0.88	(1.12)	1.90	(1.75)	7.94
A	1.07	(0.03)	0.00	(0.07)	0.00	0.00	2.81	(2.16)	9.03
CRM	1.45	(0.15)	0.00	(0.22)	0.00	0.00	2.21	(3.81)	15.92
JPM	0.89	0.14	0.11	0.15	1.16	(0.97)	1.97	(1.51)	6.85
MRK	1.26	(0.10)	0.00	(2.54)	0.00	0.00	2.15	(2.24)	11.57
XOM	0.91	(0.12)	0.00	(0.25)	0.00	0.00	1.76	(2.14)	5.69

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