Ab Discovery Correlations

Mutual Funds . USA . 
Fund . Ab Discovery Growth
CHCYX Fund  USD 13.22  0.08  0.60%   
The current 90-days correlation between Ab Discovery Growth and Ab Select Equity is 0.04 (i.e., Significant 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 -0.02 (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 manufacturing.

Moving together with CHCYX Mutual Fund

  0.66GCEAX Ab Global EPairCorr
  0.99GCECX Ab Global EPairCorr
  0.63GCEYX Ab Global EPairCorr
  0.64AMTAX Ab All MarketPairCorr
  0.63AMTZX Ab All MarketPairCorr
  0.63AMTYX Ab All MarketPairCorr
  0.63AMTOX Ab All MarketPairCorr
  0.81ANIAX New York MunicipalPairCorr
  0.88ANIYX New York MunicipalPairCorr
  0.82ANMCX New York MunicipalPairCorr
  0.82STEYX International StrategicPairCorr
  0.62STEZX International StrategicPairCorr
  0.82STESX International StrategicPairCorr
  0.72STHAX Ab Sustainable ThematicPairCorr
  0.65STHYX Ab Sustainable ThematicPairCorr
  0.63SCAVX Ab Small CapPairCorr
  0.62SCCVX Ab Small CapPairCorr
  0.84SCRSX Small Cap CorePairCorr
  0.99SCRYX Small Cap CorePairCorr
  0.65SCRZX Small Cap CorePairCorr
  0.63SCYVX Ab Small CapPairCorr
  0.85APGZX Ab Large CapPairCorr
  0.64APGYX Ab Large CapPairCorr
  0.85APGAX Ab Large CapPairCorr
  0.84APGCX Ab Large CapPairCorr
  0.84SUTAX Ab Sustainable ThematicPairCorr
  0.84SUTCX Ab Sustainable ThematicPairCorr
  0.85SUTZX Ab Sustainable ThematicPairCorr
  0.85APWIX Ab Servative WealthPairCorr
  0.85CHCLX Ab Discovery GrowthPairCorr
  0.86CHCIX Ab Discovery GrowthPairCorr
  0.66CHCCX Ab Discovery GrowthPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between CHCYX 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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