Ab California Correlations

Mutual Funds . USA . 
Fund . Ab California Portfolio
ALCVX Fund  USD 10.12  0.02  0.20%   
The current 90-days correlation between Ab California Portfolio and Ab Global E is 0.16 (i.e., Average diversification). The correlation of Ab California 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 California Correlation With Market

Modest diversification

The correlation between Ab California Portfolio and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab California Portfolio 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 Ab California Portfolio. 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 real.

Moving together with ALCVX Mutual Fund

  0.66GCEAX Ab Global EPairCorr
  0.66GCECX Ab Global EPairCorr
  0.66GCEYX Ab Global EPairCorr
  0.7ANAZX Ab Global BondPairCorr
  0.68ANAYX Ab Global BondPairCorr
  0.67ANAGX Ab Global BondPairCorr
  0.69ANAIX Ab Global BondPairCorr
  0.68ANACX Ab Global BondPairCorr
  0.81ANIAX New York MunicipalPairCorr
  0.79ANIYX New York MunicipalPairCorr
  0.86ANMCX New York MunicipalPairCorr
  0.83ANYCX Ab New YorkPairCorr
  0.7STHAX Ab Sustainable ThematicPairCorr
  0.7STHYX Ab Sustainable ThematicPairCorr
  0.66SCAVX Ab Small CapPairCorr
  0.66SCCVX Ab Small CapPairCorr
  0.64SCRSX Small Cap CorePairCorr
  0.65SCRYX Small Cap CorePairCorr
  0.65SCRZX Small Cap CorePairCorr
  0.66SCYVX Ab Small CapPairCorr
  0.61APGZX Ab Large CapPairCorr
  0.61APGYX Ab Large CapPairCorr
  0.61APGAX Ab Large CapPairCorr
  0.61APGCX Ab Large CapPairCorr
  0.61SUTAX Ab Sustainable ThematicPairCorr
  0.61SUTCX Ab Sustainable ThematicPairCorr
  0.61SUTZX Ab Sustainable ThematicPairCorr
  0.63APWIX Ab Servative WealthPairCorr
  0.65CHCLX Ab Discovery GrowthPairCorr
  0.65CHCIX Ab Discovery GrowthPairCorr
  0.65CHCCX Ab Discovery GrowthPairCorr
  0.65CHCYX Ab Discovery GrowthPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between ALCVX Mutual Fund performing well and Ab California 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 California'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
GCEAX  0.59  0.10  0.09  0.26  0.47 
(0.63)
 1.64 
(1.29)
 4.74 
GCECX  0.59  0.10  0.09  0.25  0.51 
(0.65)
 1.63 
(1.33)
 4.77 
GCEYX  0.59  0.10  0.09  0.26  0.43 
(0.65)
 1.58 
(1.29)
 4.74 
AMTAX  0.36  0.10  0.01  0.56  0.00 
(0.44)
 1.19 
(0.71)
 2.17 
AMTZX  0.36  0.10  0.01  0.54  0.00 
(0.43)
 1.21 
(0.72)
 2.21 
AMTYX  0.36  0.10  0.01  0.56  0.00 
(0.45)
 1.09 
(0.71)
 2.25 
AMTOX  0.36  0.10  0.01  0.55  0.00 
(0.43)
 1.19 
(0.68)
 2.18 
ANAZX  0.17  0.01 (0.47) 0.27  0.05 
(0.24)
 0.44 
(0.29)
 0.88 
ANAYX  0.17  0.01 (0.49) 0.32  0.08 
(0.21)
 0.29 
(0.29)
 0.87 
ANAGX  0.16  0.00 (0.52) 0.20  0.08 
(0.20)
 0.29 
(0.29)
 0.73 

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