Absolute Capital Correlations

ACMDX Fund

USD 10.84 0.03 0.28%

The current 90-days correlation between Absolute Capital Defender and Vanguard Health Care is 0.63 (i.e., Poor diversification). The correlation of Absolute 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.

Absolute Capital Correlation With Market

Almost no diversification

The correlation between Absolute Capital Defender and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Absolute Capital Defender 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 Absolute Capital Defender. 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 unemployment.

Moving together with Absolute Mutual Fund

1.0	AAMIX	Absolute Capital Asset	Pair Corr
1.0	AAMAX	Absolute Capital Asset	Pair Corr
1.0	AAMCX	Absolute Capital Asset	Pair Corr
1.0	ACMIX	Absolute Capital Defender	Pair Corr
1.0	ACMAX	Absolute Capital Defender	Pair Corr
0.97	PAALX	All Asset Fund	Pair Corr
0.97	PATRX	Pimco All Asset	Pair Corr
0.97	PAAIX	All Asset Fund	Pair Corr
0.97	PALPX	Pimco All Asset	Pair Corr
0.95	PASAX	All Asset Fund	Pair Corr
0.97	PASCX	All Asset Fund	Pair Corr
0.97	PAANX	Pimco All Asset	Pair Corr
0.94	PAUPX	Pimco All Asset	Pair Corr
0.95	PAUIX	Pimco All Asset	Pair Corr
0.88	MGGYX	Mirova Global Green	Pair Corr
0.95	HLDIX	Hartford Emerging	Pair Corr
0.94	HLDRX	Hartford Emerging	Pair Corr
0.95	HLDAX	Hartford Emerging	Pair Corr
0.95	HLDCX	Hartford Emerging	Pair Corr
0.95	HLDTX	Hartford Emerging	Pair Corr
0.93	EMDCX	Prudential Emerging	Pair Corr
0.96	MMNIX	Miller Market Neutral	Pair Corr
0.97	FRAMX	Fidelity Income Repl	Pair Corr
0.98	LMPLX	Clearbridge Large Cap	Pair Corr
0.94	SVALX	Federated Strategic Value	Pair Corr
0.99	TPILX	Tiaa Cref Lifecycle	Pair Corr
0.88	FRIFX	Fidelity Real Estate	Pair Corr
1.0	NWALX	Nationwide Bny Mellon	Pair Corr
0.93	EMKAX	Ashmore Emerging Markets	Pair Corr
0.63	EQCDX	Equalize Community	Pair Corr
0.94	CSBYX	Columbia Short Term	Pair Corr
0.99	GCECX	Ab Global E	Pair Corr
0.99	WFOPX	Wells Fargo Opportunity	Pair Corr
0.97	MHEIX	Mh Elite Income	Pair Corr

Moving against Absolute Mutual Fund

0.82

ABPRX

Ab Large Cap

Pair Corr

Related Correlations Analysis

	VGHCX	FHCCX	XHQHX	DLRHX	AHSCX	LYFAX	PRHSX	SCHLX
VGHCX		0.86	0.72	0.91	0.69	0.91	0.9	0.92	VGHCX
FHCCX	0.86		0.74	0.76	0.53	0.95	0.92	0.93	FHCCX
XHQHX	0.72	0.74		0.8	0.29	0.77	0.85	0.76	XHQHX
DLRHX	0.91	0.76	0.8		0.62	0.84	0.89	0.81	DLRHX
AHSCX	0.69	0.53	0.29	0.62		0.51	0.54	0.53	AHSCX
LYFAX	0.91	0.95	0.77	0.84	0.51		0.96	0.98	LYFAX
PRHSX	0.9	0.92	0.85	0.89	0.54	0.96		0.93	PRHSX
SCHLX	0.92	0.93	0.76	0.81	0.53	0.98	0.93		SCHLX
	VGHCX	FHCCX	XHQHX	DLRHX	AHSCX	LYFAX	PRHSX	SCHLX

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Risk-Adjusted Indicators

There is a big difference between Absolute Mutual Fund performing well and Absolute 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 Absolute 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
VGHCX	0.93	(0.14)	0.00	(0.03)	0.00	0.00	1.73	(2.02)	5.23
FHCCX	0.83	(0.17)	0.00	(0.05)	0.00	0.00	1.61	(2.56)	5.36
XHQHX	1.17	(0.09)	(0.05)	0.04	1.67	(1.18)	2.02	(2.25)	8.21
DLRHX	0.94	(0.08)	(0.07)	0.04	1.31	(0.98)	1.81	(2.10)	5.81
AHSCX	0.68	(0.09)	(0.14)	(0.01)	0.87	(0.70)	1.26	(1.32)	3.71
LYFAX	0.81	(0.15)	0.00	(0.05)	0.00	0.00	1.61	(1.91)	4.77
PRHSX	0.91	(0.12)	(0.10)	(0.01)	1.29	(0.91)	1.60	(2.37)	5.95
SCHLX	0.88	(0.17)	0.00	(0.06)	0.00	0.00	1.73	(2.20)	5.11

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