Ab Small Correlations

QUAYX Fund

USD 77.29 0.44 0.57%

The current 90-days correlation between Ab Small Cap and Ab Global E is 0.65 (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 0.83 (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 manufacturing.

Moving together with QUAYX Mutual Fund

0.88	SCRYX	Small Cap Core	Pair Corr
0.88	SCRZX	Small Cap Core	Pair Corr
0.94	SCYVX	Ab Small Cap	Pair Corr
0.99	CHCYX	Ab Discovery Growth	Pair Corr
0.69	ASCLX	Ab Select Longshort	Pair Corr
0.72	ASLAX	Ab Select Longshort	Pair Corr
0.93	ABVCX	Ab Value Fund	Pair Corr
0.9	ABYSX	Ab Discovery Value	Pair Corr
0.82	AUUIX	Ab Select Equity	Pair Corr
0.96	ITRAX	Vy T Rowe	Pair Corr
1.0	QUACX	Ab Small Cap	Pair Corr
0.95	QUAIX	Ab Small Cap	Pair Corr
1.0	QUAKX	Ab Small Cap	Pair Corr
0.95	QUARX	Ab Small Cap	Pair Corr
0.95	QUAZX	Ab Small Cap	Pair Corr
0.77	AGDAX	Ab High Income	Pair Corr

Moving against QUAYX Mutual Fund

0.64	ABIYX	Ab International Value	Pair Corr
0.56	ABNCX	Ab Bond Inflation	Pair Corr
0.55	ARECX	Ab Global Real	Pair Corr
0.54	ABNTX	Ab Bond Inflation	Pair Corr
0.53	ANBIX	Ab Bond Inflation	Pair Corr
0.51	ABNYX	Ab Bond Inflation	Pair Corr
0.4	STHYX	Ab Sustainable Thematic	Pair Corr
0.39	ANAGX	Ab Global Bond	Pair Corr
0.37	ANAYX	Ab Global Bond	Pair Corr
0.61	AWPYX	Ab International Growth	Pair Corr
0.6	AWPIX	Ab International Growth	Pair Corr
0.53	AEEIX	Ab Global Real	Pair Corr

Related Correlations Analysis

	GCEAX	GCECX	GCEYX	AMNCX	AMNAX	AMTAX	AMTZX	AMTYX	AMTOX	ANAYX
GCEAX		1.0	1.0	0.25	0.28	0.66	0.61	0.65	0.63	0.23	GCEAX
GCECX	1.0		1.0	0.27	0.29	0.67	0.63	0.66	0.65	0.25	GCECX
GCEYX	1.0	1.0		0.24	0.27	0.66	0.61	0.65	0.63	0.21	GCEYX
AMNCX	0.25	0.27	0.24		0.99	0.13	0.15	0.12	0.17	0.9	AMNCX
AMNAX	0.28	0.29	0.27	0.99		0.13	0.13	0.11	0.15	0.88	AMNAX
AMTAX	0.66	0.67	0.66	0.13	0.13		0.86	1.0	0.86	0.08	AMTAX
AMTZX	0.61	0.63	0.61	0.15	0.13	0.86		0.87	1.0	0.15	AMTZX
AMTYX	0.65	0.66	0.65	0.12	0.11	1.0	0.87		0.87	0.07	AMTYX
AMTOX	0.63	0.65	0.63	0.17	0.15	0.86	1.0	0.87		0.17	AMTOX
ANAYX	0.23	0.25	0.21	0.9	0.88	0.08	0.15	0.07	0.17		ANAYX
	GCEAX	GCECX	GCEYX	AMNCX	AMNAX	AMTAX	AMTZX	AMTYX	AMTOX	ANAYX

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Risk-Adjusted Indicators

There is a big difference between QUAYX 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GCEAX	0.52	(0.02)	(0.09)	0.08	0.56	(0.55)	0.94	(0.95)	3.45
GCECX	0.51	(0.02)	(0.09)	0.07	0.56	(0.54)	0.95	(0.97)	3.44
GCEYX	0.51	(0.01)	(0.09)	0.08	0.57	(0.53)	0.98	(1.00)	3.44
AMNCX	0.14	(0.01)	0.00	0.31	0.00	0.00	0.31	(0.31)	1.15
AMNAX	0.13	0.00	(0.40)	0.15	0.20	(0.18)	0.31	(0.31)	1.15
AMTAX	0.46	0.01	(0.13)	0.17	0.55	(0.50)	0.98	(1.04)	3.17
AMTZX	0.45	(0.04)	(0.16)	(0.02)	0.61	(0.50)	0.99	(1.05)	3.43
AMTYX	0.45	0.00	(0.13)	0.12	0.56	(0.52)	0.98	(1.04)	3.38
AMTOX	0.46	(0.03)	(0.16)	(0.01)	0.59	(0.53)	1.00	(1.07)	3.35
ANAYX	0.18	0.00	0.00	0.00	0.00	0.00	0.43	(0.29)	1.00

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