Absolute Capital Correlations

Mutual Funds . USA . 
Fund . Absolute Capital Defender
ACMDX Fund  USD 11.28  0.04  0.36%   
The current 90-days correlation between Absolute Capital Defender and Tiaa Cref Real Estate is 0.56 (i.e., Very weak 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 0.91 (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 commodities.

Moving together with Absolute Mutual Fund

  0.94AAMIX Absolute Capital AssetPairCorr
  0.94AAMAX Absolute Capital AssetPairCorr
  0.95AAMCX Absolute Capital AssetPairCorr
  0.99ACMIX Absolute Capital DefenderPairCorr
  1.0ACMAX Absolute Capital DefenderPairCorr
  0.63FTMKX Fidelity Advisor EmergingPairCorr
  0.83SRJQX Jpmorgan SmartretirementPairCorr
  0.75HGITX Hartford E EquityPairCorr
  0.63HLEMX Harding Loevner EmergingPairCorr
  0.74HLMNX Harding Loevner IntePairCorr
  0.83SRJSX Jpmorgan SmartretirementPairCorr
  0.73TRARX T Rowe PricePairCorr
  0.83SRJPX Jpmorgan SmartretirementPairCorr
  0.8SAPYX Clearbridge AppreciationPairCorr
  0.73JLDIX Retirement Living ThroughPairCorr
  0.63SEQFX Sit Emerging MarketsPairCorr
  0.71RERCX Europacific GrowthPairCorr
  0.84AMFCX American MutualPairCorr
  0.61ANFFX New Economy FundPairCorr

Related Correlations Analysis


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

FORFX
+ 0.98
CREMX
FREEX
+ 0.97
PHRIX
NRCFX
+ 0.96
PHRIX
PHRIX
+ 0.94
TIREX
NRCFX
+ 0.94
FREEX
NRCFX
+ 0.89
TIREX
  

High negative correlations

CREMX
- 0.1
FREEX
FORFX
- 0.07
FREEX

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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
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