Ab Discovery Correlations

Mutual Funds USA . 
Fund . Ab Discovery Growth
CHCZX Fund  USD 13.16  0.04  0.30%   
The current 90-days correlation between Ab Discovery Growth and Ab Global E is -0.09 (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 nation.

Moving together with CHCZX Mutual Fund

  0.66GCEAX Ab Global EPairCorr
  0.66GCECX Ab Global EPairCorr
  0.75GCEYX Ab Global EPairCorr
  0.69AMTZX Ab All MarketPairCorr
  0.97AMTOX Ab All MarketPairCorr
  0.76ANAZX Ab Global BondPairCorr
  0.72ANAGX Ab Global BondPairCorr
  0.74ANACX Ab Global BondPairCorr
  0.72ANBIX Ab Bond InflationPairCorr
  0.76ANIAX New York MunicipalPairCorr
  0.75ANIYX New York MunicipalPairCorr
  0.76ANMCX New York MunicipalPairCorr
  0.64STEYX International StrategicPairCorr
  0.73STEZX International StrategicPairCorr
  0.97STESX International StrategicPairCorr
  0.98SCAVX Ab Small CapPairCorr
  0.98SCCVX Ab Small CapPairCorr
  0.99SCRSX Small Cap CorePairCorr
  0.65SCRYX Small Cap CorePairCorr
  0.99SCRZX Small Cap CorePairCorr
  0.98SCYVX Ab Small CapPairCorr
  0.99APGZX Ab Large CapPairCorr
  0.66APGYX Ab Large CapPairCorr
  0.99APGAX Ab Large CapPairCorr
  0.67APGCX Ab Large CapPairCorr
  0.63SUTAX Ab Sustainable ThematicPairCorr
  0.63SUTCX Ab Sustainable ThematicPairCorr
  0.63SUTZX Ab Sustainable ThematicPairCorr
  0.99APWIX Ab Servative WealthPairCorr
  0.65CHCLX Ab Discovery GrowthPairCorr
  0.65CHCIX Ab Discovery GrowthPairCorr
  1.0CHCCX Ab Discovery GrowthPairCorr
  0.65CHCYX Ab Discovery GrowthPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between CHCZX 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
GCEAX  0.56  0.26  0.16 (5.39) 0.16 
(0.65)
 1.64 
(0.84)
 4.74 
GCECX  0.54  0.22  0.13  5.17  0.27 
(0.63)
 1.55 
(0.86)
 4.77 
GCEYX  0.57  0.26  0.16 (7.13) 0.14 
(0.67)
 1.58 
(0.89)
 4.74 
AMTAX  0.34  0.12 (0.03)(3.41) 0.00 
(0.42)
 0.93 
(0.53)
 2.17 
AMTZX  0.35  0.15  0.01 (1.43) 0.00 
(0.43)
 1.21 
(0.53)
 2.21 
AMTYX  0.36  0.15  0.01 (1.43) 0.00 
(0.45)
 1.09 
(0.53)
 2.25 
AMTOX  0.36  0.10  0.01  0.55  0.00 
(0.43)
 1.19 
(0.68)
 2.18 
ANAZX  0.17  0.01 (0.47) 0.27  0.05 
(0.24)
 0.44 
(0.29)
 0.88 
ANAYX  0.17  0.01 (0.51) 3.51  0.08 
(0.22)
 0.29 
(0.29)
 0.87 
ANAGX  0.16  0.00 (0.52) 0.20  0.08 
(0.20)
 0.29 
(0.29)
 0.73 

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