Absolute Convertible Correlations

Mutual Funds . USA . 
Fund . Absolute Convertible Arbitrage
ARBIX Fund  USD 11.63  0.01  0.09%   
The current 90-days correlation between Absolute Convertible and Absolute Convertible Arbitrage is 0.12 (i.e., Average diversification). The correlation of Absolute Convertible 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 Convertible Correlation With Market

Good diversification

The correlation between Absolute Convertible Arbitrage and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Absolute Convertible Arbitrage 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 Convertible Arbitrage. 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 gross domestic product.

Moving together with Absolute Mutual Fund

  0.61ARBOX Absolute ConvertiblePairCorr
  0.96ACEFX Absolute Cef OpportuPairCorr
  0.98CVSCX Calamos Market NeutralPairCorr
  0.97CVSIX Calamos Market NeutralPairCorr
  0.98CVSOX Calamos Market NeutralPairCorr
  0.98CMNIX Calamos Market NeutralPairCorr
  0.97ADAIX Aqr Diversified ArbitragePairCorr
  0.96ADANX Aqr Diversified ArbitragePairCorr
  0.96QDARX Aqr Diversified ArbitragePairCorr
  0.64VTSAX Vanguard Total StockPairCorr
  0.64VFIAX Vanguard 500 IndexPairCorr
  0.64VTSMX Vanguard Total StockPairCorr
  0.64VSMPX Vanguard Total StockPairCorr
  0.64VSTSX Vanguard Total StockPairCorr
  0.64VITSX Vanguard Total StockPairCorr
  0.64VFINX Vanguard 500 IndexPairCorr
  0.64VFFSX Vanguard 500 IndexPairCorr
  0.66VGTSX Vanguard Total InterPairCorr
  0.66VTIAX Vanguard Total InterPairCorr
  0.64FABWX FabwxPairCorr
  0.65JMOAX Janus Global AllocationPairCorr
  0.99LQFLX Lord Abbett FocusedPairCorr
  0.64PMUNX Pimco Municipal BondPairCorr
  0.97FTPPX American Funds ConsePairCorr
  0.94AIEVX Invesco InternationalPairCorr
  0.97JHJIX John Hancock EsgPairCorr
  0.98VGIAX Vanguard Growth AndPairCorr
  0.75VTMGX Vanguard DevelopedPairCorr
  0.72VSEQX Vanguard Strategic EquityPairCorr
  0.82RRGTX Deutsche Global RealPairCorr
  0.98ECAMX Eaton Vance MultiPairCorr
  0.94ODMCX Jpmorgan Intrepid MidPairCorr
  0.98ERBIX Eaton Vance RichardPairCorr
  0.98TILPX Tiaa Cref LargePairCorr
  0.71URIFX Income Fund IncomePairCorr
  0.98MFECX Mfs Growth FundPairCorr
  0.98HERCX Hartford Emerging MarketsPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Absolute Mutual Fund performing well and Absolute Convertible 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 Convertible'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
ARBOX  0.06  0.02 (1.06) 0.77  0.00 
(0.12)
 0.18 
(0.09)
 0.35 
ARBIX  0.07  0.03 (1.10)(7.06) 0.00 
(0.12)
 0.18 
(0.09)
 0.44 
FRAAX  0.76  0.28  0.36  0.49  0.00 
(0.99)
 2.38 
(1.03)
 5.25 
GCLSX  0.62  0.18  0.04 (1.46) 0.57 
(0.72)
 1.69 
(1.09)
 4.54 
FAGNX  1.01  0.15  0.06  0.52  0.99 
(1.19)
 2.17 
(1.93)
 5.55 
IYBIX  0.41  0.07  0.02  0.26  0.32 
(0.48)
 1.12 
(0.95)
 2.73 
GGKPX  0.28  0.05 (0.06) 0.28  0.00 
(0.32)
 0.86 
(0.49)
 2.09 
MMIBX  0.17 (0.02) 0.00 (0.23) 0.00 
 0.00 
 0.38 
(0.38)
 1.14 
ICMPX  0.56  0.19  0.06 (1.75) 0.46 
(0.62)
 1.28 
(1.26)
 3.78 
JDBRX  0.47  0.09  0.07  0.27  0.30 
(0.53)
 1.63 
(1.00)
 3.25 

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
 
Feedback Blog
Made with optimal in San Francisco
2025 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY