Alliancebernstein Correlations

XAWFX Fund

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The current 90-days correlation between Alliancebernstein and Artisan High Income is 0.57 (i.e., Very weak diversification). The correlation of Alliancebernstein 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.

Alliancebernstein Correlation With Market

Average diversification

The correlation between Alliancebernstein Global Higho and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alliancebernstein Global Higho and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Alliancebernstein Global Highome. 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 census.

Moving together with Alliancebernstein Mutual Fund

0.62	VGTSX	Vanguard Total Inter	Pair Corr
0.62	VTIAX	Vanguard Total Inter	Pair Corr
0.76	BRUFX	Bruce Fund Bruce	Pair Corr
0.68	SPGSX	State Street Premier	Pair Corr
0.66	MRAGX	Meridian Growth	Pair Corr

Moving against Alliancebernstein Mutual Fund

0.56	RYMEX	Commodities Strategy	Pair Corr
0.56	RYMJX	Commodities Strategy	Pair Corr
0.56	RYMBX	Commodities Strategy	Pair Corr
0.72	HIMUX	Pioneer Map High	Pair Corr
0.32	PCRRX	Commodityrealreturn	Pair Corr
0.62	CBHAX	Victory Cemp Market	Pair Corr
0.47	GSCAX	Goldman Sachs Modity	Pair Corr
0.4	BUBIX	Baird Ultra Short	Pair Corr

Related Correlations Analysis

	ARTFX	NHIEX	PBHAX	BUFHX	LSYFX	PRHYX
ARTFX		0.96	0.9	0.89	0.98	0.97	ARTFX
NHIEX	0.96		0.94	0.79	0.93	0.96	NHIEX
PBHAX	0.9	0.94		0.7	0.87	0.88	PBHAX
BUFHX	0.89	0.79	0.7		0.9	0.87	BUFHX
LSYFX	0.98	0.93	0.87	0.9		0.96	LSYFX
PRHYX	0.97	0.96	0.88	0.87	0.96		PRHYX
	ARTFX	NHIEX	PBHAX	BUFHX	LSYFX	PRHYX

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Risk-Adjusted Indicators

There is a big difference between Alliancebernstein Mutual Fund performing well and Alliancebernstein 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 Alliancebernstein'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
ARTFX	0.12	0.01	(0.04)	0.44	0.00	(0.18)	0.44	(0.22)	1.10
NHIEX	0.14	0.01	(0.03)	0.28	0.06	(0.21)	0.40	(0.26)	1.18
PBHAX	0.13	0.01	(0.04)	0.20	0.00	(0.29)	0.42	(0.21)	0.84
BUFHX	0.09	0.03	0.05	1.22	0.00	(0.13)	0.19	(0.09)	0.66
LSYFX	0.13	0.02	(0.01)	0.26	0.00	(0.24)	0.52	(0.20)	1.43
PRHYX	0.15	0.02	0.00	2.11	0.00	(0.27)	0.51	(0.34)	1.36

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