Ab Discovery Correlations

Mutual Funds . USA . 
Fund . Ab Discovery Growth
CHCIX Fund  USD 13.04  0.03  0.23%   
The current 90-days correlation between Ab Discovery Growth and Ab Global E is -0.06 (i.e., Good diversification). The correlation of Ab Discovery 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 Discovery Correlation With Market

Very poor diversification

The correlation between Ab Discovery Growth and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab Discovery Growth 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 Discovery Growth. 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 CHCIX Mutual Fund

  0.97GCEAX Ab Global EPairCorr
  0.99GCECX Ab Global EPairCorr
  0.99GCEYX Ab Global EPairCorr
  0.96AMTAX Ab All MarketPairCorr
  0.96AMTZX Ab All MarketPairCorr
  0.96AMTYX Ab All MarketPairCorr
  0.97AMTOX Ab All MarketPairCorr
  0.78ANAZX Ab Global BondPairCorr
  0.78ANAYX Ab Global BondPairCorr
  0.75ANAGX Ab Global BondPairCorr
  0.78ANAIX Ab Global BondPairCorr
  0.74ANBIX Ab Bond InflationPairCorr
  0.91ANIAX New York MunicipalPairCorr
  0.92ANIYX New York MunicipalPairCorr
  0.9ANMCX New York MunicipalPairCorr
  0.96STEYX International StrategicPairCorr
  0.97STEZX International StrategicPairCorr
  0.95STESX International StrategicPairCorr
  0.8STHAX Ab Sustainable ThematicPairCorr
  0.82STHYX Ab Sustainable ThematicPairCorr
  0.96SCAVX Ab Small CapPairCorr
  0.98SCCVX Ab Small CapPairCorr
  0.99SCRSX Small Cap CorePairCorr
  0.99SCRYX Small Cap CorePairCorr
  0.99SCRZX Small Cap CorePairCorr
  0.96SCYVX Ab Small CapPairCorr
  0.99APGZX Ab Large CapPairCorr
  0.99APGYX Ab Large CapPairCorr
  0.99APGAX Ab Large CapPairCorr
  0.99APGCX Ab Large CapPairCorr
  0.97SUTAX Ab Sustainable ThematicPairCorr
  0.99SUTCX Ab Sustainable ThematicPairCorr
  0.99SUTZX Ab Sustainable ThematicPairCorr
  0.99APWIX Ab Servative WealthPairCorr
  0.98CHCLX Ab Discovery GrowthPairCorr
  1.0CHCCX Ab Discovery GrowthPairCorr
  1.0CHCYX Ab Discovery GrowthPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between CHCIX Mutual Fund performing well and Ab Discovery 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 Discovery'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.

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