Api Multi-asset Correlations

Mutual Funds . USA . 
Fund . Api Multi Asset Income
AFFCX Fund  USD 7.70  0.01  0.13%   
The current 90-days correlation between Api Multi Asset and Api Growth Fund is -0.05 (i.e., Good diversification). The correlation of Api Multi-asset 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.

Api Multi-asset Correlation With Market

Good diversification

The correlation between Api Multi Asset Income and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Api Multi Asset Income 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 Api Multi Asset Income. 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 Api Mutual Fund

  0.84APGRX Api Growth FundPairCorr
  0.95APIBX Api Short TermPairCorr
  0.97APIUX Api Multi AssetPairCorr
  0.83APITX Api Growth FundPairCorr
  0.94APIMX Api Short TermPairCorr
  0.96APIIX Api Multi AssetPairCorr
  0.84YOVIX Yorktown Small CapPairCorr
  0.84YOVAX Yorktown Small CapPairCorr
  0.97AFFIX Api Multi AssetPairCorr
  0.84AFGGX Api Growth FundPairCorr
  0.91AFMMX Api Short TermPairCorr
  0.95PONAX Pimco IncomePairCorr
  0.94PONCX Pimco IncomePairCorr
  0.95PIPNX Pimco IncomePairCorr
  0.95PONRX Pimco IncomePairCorr
  0.95PONPX Pimco Incme FundPairCorr
  0.95PIINX Pimco IncomePairCorr
  0.95PIMIX Pimco IncomePairCorr
  0.96LBNDX Lord Abbett BondPairCorr
  0.96FSTAX Fidelity Advisor StrPairCorr
  0.96FSRIX Fidelity Advisor StrPairCorr
  0.95LIIAX Columbia Porate IncomePairCorr
  0.95SRINX Columbia Porate IncomePairCorr
  0.92WRHIX Ivy High IncomePairCorr
  0.92WHIAX Ivy High IncomePairCorr
  0.93IHIFX Ivy High IncomePairCorr
  0.92IVHIX Ivy High IncomePairCorr
  0.9AMTOX Ab All MarketPairCorr
  0.88QMLAX Quantified Market LeadersPairCorr
  0.91VLSMX Valic Company IPairCorr
  0.94SWCGX Schwab MarkettrackPairCorr
  0.88PSHAX Short Term FundPairCorr
  0.91RSOOX Columbia DividendPairCorr
  0.92TBLPX T Rowe PricePairCorr
  0.91WLCAX Wells Fargo LargePairCorr
  0.9AMFCX American MutualPairCorr
  0.89NTDSX Nationwide DestinationPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Api Mutual Fund performing well and Api Multi-asset 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 Api Multi-asset'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
APGRX  0.81  0.11  0.11  0.24  0.64 
(0.98)
 2.34 
(1.36)
 5.51 
APIUX  0.14  0.02 (0.51) 0.41  0.00 
(0.18)
 0.35 
(0.24)
 0.83 
APITX  0.81  0.11  0.11  0.24  0.64 
(1.04)
 2.31 
(1.42)
 5.50 
APIMX  0.12  0.01 (0.43) 0.57  0.00 
(0.26)
 0.26 
(0.26)
 0.52 
APIIX  0.15  0.02 (0.49) 0.38  0.00 
(0.19)
 0.33 
(0.22)
 0.78 
YOVIX  0.82  0.13  0.14  0.26  0.62 
(1.05)
 2.11 
(1.77)
 5.03 
YOVLX  0.79  0.35  0.28 (5.39) 0.12 
(1.01)
 2.11 
(0.89)
 4.98 
YOVAX  0.83  0.13  0.14  0.26  0.63 
(1.00)
 2.09 
(1.74)
 5.01 
AFFIX  0.14  0.01 (0.50) 0.37  0.00 
(0.19)
 0.26 
(0.26)
 0.77 
AFFCX  0.15  0.03 (0.49)(2.02) 0.00 
(0.21)
 0.39 
(0.26)
 0.93 

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