Abbey Capital Correlations

ABYCX Fund

USD 9.93 0.01 0.10%

The current 90-days correlation between Abbey Capital Futures and Abbey Capital Futures is 0.98 (i.e., Almost no 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 good diversification

The correlation between Abbey Capital Futures and DJI is -0.28 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Abbey Capital Futures and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Abbey Capital Futures. 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

0.99	ABYIX	Abbey Capital Futures	Pair Corr
0.99	ABYAX	Abbey Capital Futures	Pair Corr
0.65	PQTAX	Pimco Trends Managed	Pair Corr
0.64	PQTNX	Pimco Trends Managed	Pair Corr
0.87	AMFNX	Asg Managed Futures	Pair Corr
0.88	AMFAX	Asg Managed Futures	Pair Corr
0.91	ASFCX	Asg Managed Futures	Pair Corr

Moving against Abbey Mutual Fund

0.72	PTOAX	Stocksplus Total Return	Pair Corr
0.69	ASPGX	Astor Star Fund	Pair Corr
0.58	MAFAX	Abbey Capital Multi	Pair Corr
0.58	MAFCX	Abbey Capital Multi	Pair Corr
0.58	MAFIX	Abbey Capital Multi	Pair Corr
0.47	NHS	Neuberger Berman High	Pair Corr
0.85	RPNIX	Riverpark/next Century	Pair Corr
0.76	NWJCX	Nationwide Ziegler Nyse	Pair Corr
0.75	BIAFX	Brown Advisory Flexible	Pair Corr
0.73	FFFGX	Fidelity Freedom 2045	Pair Corr
0.73	CRLSX	Calamos Longshort	Pair Corr
0.73	JHBJX	John Hancock Funds	Pair Corr
0.72	PDAIX	Pinebridge Dynamic Asset	Pair Corr
0.72	VFIFX	Vanguard Target Reti	Pair Corr
0.72	TLYRX	Tiaa Cref Lifecycle	Pair Corr
0.72	WFOPX	Wells Fargo Opportunity	Pair Corr
0.69	BALCX	American Balanced	Pair Corr
0.68	FIQVX	Fidelity Convertible	Pair Corr
0.68	VINEX	Vanguard International	Pair Corr
0.65	RPELX	T Rowe Price	Pair Corr
0.54	RSFYX	Victory Floating Rate	Pair Corr
0.41	RCBGX	American Funds Porate	Pair Corr
0.82	BSGIX	Baird Smallmid Cap	Pair Corr
0.76	PPUMX	Largecap Growth	Pair Corr
0.74	GRMAX	Nationwide Sp 500	Pair Corr
0.74	LMPPX	Clearbridge Appreciation	Pair Corr
0.73	CAFCX	Amcap Fund Class	Pair Corr
0.72	RYFIX	Financial Services	Pair Corr
0.72	RAMTX	American Funds 2055	Pair Corr
0.71	CICEX	Investment Of America	Pair Corr

Related Correlations Analysis

	ABYIX	ABYAX	ABYCX	MAFAX	MAFIX
ABYIX		1.0	0.99	-0.5	-0.5	ABYIX
ABYAX	1.0		0.99	-0.51	-0.51	ABYAX
ABYCX	0.99	0.99		-0.58	-0.58	ABYCX
MAFAX	-0.5	-0.51	-0.58		1.0	MAFAX
MAFIX	-0.5	-0.51	-0.58	1.0		MAFIX
	ABYIX	ABYAX	ABYCX	MAFAX	MAFIX

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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

ABYAX	+ 1.0	ABYIX
MAFIX	+ 1.0	MAFAX
ABYCX	+ 0.99	ABYIX
ABYCX	+ 0.99	ABYAX

High negative correlations

MAFIX	- 0.58	ABYCX
MAFAX	- 0.58	ABYCX
MAFIX	- 0.51	ABYAX
MAFAX	- 0.51	ABYAX
MAFIX	- 0.5	ABYIX
MAFAX	- 0.5	ABYIX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ABYIX	0.21	0.00	0.00	0.18	0.00	0.00	0.39	(0.48)	1.53
ABYAX	0.21	(0.01)	0.00	0.21	0.00	0.00	0.48	(0.48)	1.44
ABYCX	0.20	(0.01)	0.00	0.24	0.00	0.00	0.40	(0.50)	1.60
MAFAX	0.40	0.06	(0.02)	0.29	0.23	(0.49)	1.05	(0.75)	2.57
MAFIX	0.41	0.07	(0.02)	0.30	0.25	(0.48)	1.04	(0.75)	2.75

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