Ab Small Correlations

QUAIX Fund  USD 78.67  0.41  0.52%   
The current 90-days correlation between Ab Small Cap and Gamco Global Telecommunications is 0.61 (i.e., Poor diversification). The correlation of Ab Small 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 Small Correlation With Market

Very poor diversification

The correlation between Ab Small Cap and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab Small Cap and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Ab Small Cap. 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 gross domestic product.

Moving together with QUAIX Mutual Fund

  0.9SCCVX Ab Small CapPairCorr
  0.97SCRSX Small Cap CorePairCorr
  0.97SCRYX Small Cap CorePairCorr
  0.91SCYVX Ab Small CapPairCorr
  0.96APGZX Ab Large CapPairCorr
  0.96APGYX Ab Large CapPairCorr
  0.96APGAX Ab Large CapPairCorr
  0.96APGCX Ab Large CapPairCorr
  0.99CHCLX Ab Discovery GrowthPairCorr
  0.99CHCIX Ab Discovery GrowthPairCorr
  0.99CHCCX Ab Discovery GrowthPairCorr
  0.99CHCYX Ab Discovery GrowthPairCorr
  0.99CHCZX Ab Discovery GrowthPairCorr

Moving against QUAIX Mutual Fund

  0.59ANACX Ab Global BondPairCorr
  0.58ANAGX Ab Global BondPairCorr
  0.58STHAX Ab Sustainable ThematicPairCorr
  0.56ANAZX Ab Global BondPairCorr
  0.56ANAYX Ab Global BondPairCorr
  0.56STHYX Ab Sustainable ThematicPairCorr
  0.41AMNCX Ab Minnesota PortfolioPairCorr
  0.38ANJCX Ab New JerseyPairCorr
  0.38ANYCX Ab New YorkPairCorr
  0.35AMNAX Ab Minnesota PortfolioPairCorr
  0.32ANJAX Ab New JerseyPairCorr
  0.31AOHAX Ab Ohio PortfolioPairCorr
  0.44CICGX Ab Centrated InternaPairCorr
  0.43CIAGX Ab Centrated InternaPairCorr
  0.34ARECX Ab Global RealPairCorr
  0.32ARSYX Ab Global RealPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
BBINXCFNLX
CFNLXOWMBX
BBINXOWMBX
MDMTXOWMBX
MDMTXCFNLX
BBINXMSTPX
  
High negative correlations   
IMLXXOWMBX
MDMTXIMLXX
MDMTXGTCAX
OWMBXGTCAX
IMLXXCFNLX
CFNLXGTCAX

Risk-Adjusted Indicators

There is a big difference between QUAIX Mutual Fund performing well and Ab Small 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 Small'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.