Ab Select Correlations

ASCLX Fund

USD 13.80 0.10 0.73%

The current 90-days correlation between Ab Select Longshort and Altegris Futures Evolution is 0.23 (i.e., Modest diversification). The correlation of Ab Select 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 Select Correlation With Market

Poor diversification

The correlation between Ab Select Longshort and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab Select Longshort 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 Select Longshort. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with ASCLX Mutual Fund

0.86	DIAYX	Diamond Hill Long	Pair Corr
0.75	GPMFX	Guidepath Managed Futures	Pair Corr
0.73	PQTAX	Pimco Trends Managed	Pair Corr
0.75	PQTNX	Pimco Trends Managed	Pair Corr
0.73	PQTIX	Aa Pimco Tr	Pair Corr
0.8	WARCX	Wells Fargo Advantage	Pair Corr
0.83	FPXIX	Fidelity Advisor 529	Pair Corr
0.77	GPICX	Guidepath Conservative	Pair Corr
0.89	GE	GE Aerospace	Pair Corr
0.69	AA	Alcoa Corp	Pair Corr
0.79	IBM	International Business	Pair Corr
0.73	AXP	American Express	Pair Corr
0.69	CAT	Caterpillar	Pair Corr

Moving against ASCLX Mutual Fund

0.61	VZ	Verizon Communications	Pair Corr
0.53	PG	Procter Gamble	Pair Corr
0.47	MCD	McDonalds	Pair Corr
0.39	BA	Boeing	Pair Corr
0.33	HD	Home Depot	Pair Corr

Related Correlations Analysis

	EVOIX	QMHIX	AUNYX	NWXNX	MFTFX	SLFYX	HIPAX
EVOIX		0.67	0.8	0.71	0.95	0.67	0.76	EVOIX
QMHIX	0.67		0.85	0.32	0.73	0.71	0.52	QMHIX
AUNYX	0.8	0.85		0.69	0.78	0.67	0.82	AUNYX
NWXNX	0.71	0.32	0.69		0.58	0.42	0.95	NWXNX
MFTFX	0.95	0.73	0.78	0.58		0.63	0.67	MFTFX
SLFYX	0.67	0.71	0.67	0.42	0.63		0.56	SLFYX
HIPAX	0.76	0.52	0.82	0.95	0.67	0.56		HIPAX
	EVOIX	QMHIX	AUNYX	NWXNX	MFTFX	SLFYX	HIPAX

Risk-Adjusted Indicators

There is a big difference between ASCLX Mutual Fund performing well and Ab Select 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 Select'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
EVOIX	0.47	0.06	0.07	0.33	0.55	(0.54)	1.07	(1.05)	3.60
QMHIX	0.63	0.09	0.08	0.30	0.85	(0.64)	1.22	(1.31)	4.57
AUNYX	0.09	0.02	(0.01)	0.58	0.00	(0.16)	0.28	(0.09)	0.56
NWXNX	0.13	0.01	(0.07)	0.35	0.08	(0.17)	0.33	(0.22)	0.87
MFTFX	1.05	0.10	0.08	0.14	1.18	(1.25)	2.80	(1.78)	6.84
SLFYX	0.20	0.03	0.03	1.32	0.06	(0.26)	0.49	(0.36)	0.98
HIPAX	0.11	0.00	(0.09)	0.66	0.04	(0.15)	0.19	(0.19)	0.77

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