New York Correlations

ANMCX Fund

USD 13.23 0.02 0.15%

The current 90-days correlation between New York Municipal and Ab Global E is 0.08 (i.e., Significant diversification). The correlation of New York 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.

New York Correlation With Market

Significant diversification

The correlation between New York Municipal and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New York Municipal 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 New York Municipal. 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 New Mutual Fund

0.89	AMTOX	Ab All Market	Pair Corr
0.88	ANAZX	Ab Global Bond	Pair Corr
0.85	ANAGX	Ab Global Bond	Pair Corr
0.82	ANBIX	Ab Bond Inflation	Pair Corr
0.89	SCYVX	Ab Small Cap	Pair Corr
0.87	ASCLX	Ab Select Longshort	Pair Corr
0.78	ABNTX	Ab Bond Inflation	Pair Corr
0.79	ABNOX	Ab Bond Inflation	Pair Corr
0.78	ABNCX	Ab Bond Inflation	Pair Corr
0.81	ABNAX	Ab Bond Inflation	Pair Corr
0.82	ABNYX	Ab Bond Inflation	Pair Corr
0.82	ABNZX	Ab Bond Inflation	Pair Corr
0.65	ABTYX	Ab High Income	Pair Corr
0.61	ABTHX	Ab High Income	Pair Corr
0.89	ABVCX	Ab Value Fund	Pair Corr
0.89	ABYSX	Ab Discovery Value	Pair Corr
0.89	AUIAX	Ab Equity Income	Pair Corr
0.91	AUNTX	Ab Municipal Bond	Pair Corr
0.9	AUNCX	Ab Municipal Bond	Pair Corr
0.89	AUUIX	Ab Select Equity	Pair Corr
0.89	AUUYX	Ab Select Equity	Pair Corr
0.89	ADGAX	Ab E Opportunities	Pair Corr
0.88	AWPIX	Ab International Growth	Pair Corr
0.89	QUAIX	Ab Small Cap	Pair Corr
0.89	QUAZX	Ab Small Cap	Pair Corr
0.91	AGDIX	Ab High Income	Pair Corr
0.92	AGDAX	Ab High Income	Pair Corr
0.91	AGDZX	Ab High Income	Pair Corr
0.98	SNCAX	California Municipal	Pair Corr
0.69	SNIDX	Intermediate Duration	Pair Corr
0.93	CABIX	Ab Global Risk	Pair Corr
0.88	WPASX	Ab Centrated Growth	Pair Corr
0.92	CBSYX	Ab Global Risk	Pair Corr
0.62	ALNYX	Ab New York	Pair Corr
0.96	ANIYX	New York Municipal	Pair Corr
0.99	SNNYX	New York Municipal	Pair Corr
0.94	LTBYX	Opnhmr Rchstr	Pair Corr
0.94	IORMX	Aim Taxexempt Funds	Pair Corr
0.88	LTNCX	Oppenheimer Rochester	Pair Corr

Related Correlations Analysis

	GCEAX	GCECX	GCEYX	AMTAX	AMTZX	AMTYX	AMTOX	ANAZX	ANAYX	ANAGX
GCEAX		0.98	0.98	0.96	0.96	0.96	0.96	0.77	0.77	0.73	GCEAX
GCECX	0.98		1.0	0.95	0.95	0.95	0.96	0.78	0.78	0.74	GCECX
GCEYX	0.98	1.0		0.96	0.96	0.95	0.96	0.78	0.78	0.74	GCEYX
AMTAX	0.96	0.95	0.96		1.0	1.0	0.98	0.83	0.83	0.8	AMTAX
AMTZX	0.96	0.95	0.96	1.0		1.0	0.98	0.83	0.83	0.8	AMTZX
AMTYX	0.96	0.95	0.95	1.0	1.0		0.98	0.83	0.83	0.8	AMTYX
AMTOX	0.96	0.96	0.96	0.98	0.98	0.98		0.83	0.83	0.8	AMTOX
ANAZX	0.77	0.78	0.78	0.83	0.83	0.83	0.83		1.0	0.98	ANAZX
ANAYX	0.77	0.78	0.78	0.83	0.83	0.83	0.83	1.0		0.98	ANAYX
ANAGX	0.73	0.74	0.74	0.8	0.8	0.8	0.8	0.98	0.98		ANAGX
	GCEAX	GCECX	GCEYX	AMTAX	AMTZX	AMTYX	AMTOX	ANAZX	ANAYX	ANAGX

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Risk-Adjusted Indicators

There is a big difference between New Mutual Fund performing well and New York 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 New York'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
GCEAX	0.59	0.24	0.11	(3.11)	0.44	(0.64)	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	0.37	0.15	0.03	(3.12)	0.00	(0.46)	1.19	(0.71)	2.17
AMTZX	0.36	0.15	0.03	(2.77)	0.00	(0.44)	1.21	(0.72)	2.21
AMTYX	0.37	0.15	0.03	(2.83)	0.00	(0.46)	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	0.18	0.03	(0.45)	(0.92)	0.00	(0.25)	0.44	(0.29)	0.88
ANAYX	0.18	0.03	(0.46)	(1.84)	0.00	(0.21)	0.29	(0.29)	0.88
ANAGX	0.16	0.02	(0.49)	(1.06)	0.02	(0.21)	0.29	(0.29)	0.88

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New York Correlations

New York Correlation With Market

Significant diversification

Moving together with New Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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