Ab Discovery Correlations

CHCIX Fund

USD 13.71 0.10 0.72%

The current 90-days correlation between Ab Discovery Growth and Dws Emerging Markets is -0.05 (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

Good diversification

The correlation between Ab Discovery Growth and DJI is -0.19 (i.e., Good 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

0.77	AMTAX	Ab All Market	Pair Corr
0.74	AMTOX	Ab All Market	Pair Corr
0.78	ANAZX	Ab Global Bond	Pair Corr
0.82	ANAYX	Ab Global Bond	Pair Corr
0.79	ANAGX	Ab Global Bond	Pair Corr
0.66	ANACX	Ab Global Bond	Pair Corr
0.83	ANIYX	New York Municipal	Pair Corr
0.67	ANYCX	Ab New York	Pair Corr
0.83	STEZX	International Strategic	Pair Corr
0.8	STHAX	Ab Sustainable Thematic	Pair Corr
0.66	STHYX	Ab Sustainable Thematic	Pair Corr
0.85	SCRSX	Small Cap Core	Pair Corr
0.62	APGYX	Ab Large Cap	Pair Corr
0.82	APGAX	Ab Large Cap	Pair Corr
0.74	APGCX	Ab Large Cap	Pair Corr
0.94	SUTAX	Ab Sustainable Thematic	Pair Corr
0.61	APWIX	Ab Servative Wealth	Pair Corr
0.61	CHCYX	Ab Discovery Growth	Pair Corr
0.69	CHCZX	Ab Discovery Growth	Pair Corr
0.65	ARIIX	Ab Global Real	Pair Corr

Moving against CHCIX Mutual Fund

0.53

ABCSX

Ab Discovery Value

Pair Corr

Related Correlations Analysis

	SEKRX	REMVX	SEDAX	DLENX	QTERX	DBELX	DEDCX
SEKRX		0.97	0.94	0.85	0.94	0.95	0.94	SEKRX
REMVX	0.97		0.96	0.76	0.97	0.93	0.89	REMVX
SEDAX	0.94	0.96		0.82	0.97	0.95	0.93	SEDAX
DLENX	0.85	0.76	0.82		0.77	0.88	0.95	DLENX
QTERX	0.94	0.97	0.97	0.77		0.93	0.89	QTERX
DBELX	0.95	0.93	0.95	0.88	0.93		0.95	DBELX
DEDCX	0.94	0.89	0.93	0.95	0.89	0.95		DEDCX
	SEKRX	REMVX	SEDAX	DLENX	QTERX	DBELX	DEDCX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SEKRX	0.78	0.19	0.05	(1.76)	0.88	(0.83)	1.58	(1.16)	5.68
REMVX	0.65	0.21	0.09	(2.95)	0.61	(0.76)	1.42	(0.85)	4.68
SEDAX	0.19	0.05	(0.26)	0.46	0.00	(0.28)	0.55	(0.33)	1.09
DLENX	0.10	0.02	(0.47)	2.25	0.00	(0.14)	0.22	(0.11)	0.66
QTERX	0.66	0.08	0.05	0.24	0.70	(0.77)	1.45	(0.82)	4.71
DBELX	0.24	0.05	(0.22)	(0.78)	0.15	(0.29)	0.54	(0.53)	1.50
DEDCX	0.10	0.02	(0.58)	5.54	0.00	(0.16)	0.26	(0.13)	0.51

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