Abbey Capital Correlations

MAFAX Fund

USD 11.09 0.01 0.09%

The current 90-days correlation between Abbey Capital Multi and Abbey Capital Futures is -0.06 (i.e., Good diversification). The correlation of Abbey Capital 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.

Abbey Capital Correlation With Market

Poor diversification

The correlation between Abbey Capital Multi and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Abbey Capital Multi and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Abbey Capital Multi. 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 Abbey Mutual Fund

1.0	MAFCX	Abbey Capital Multi	Pair Corr
1.0	MAFIX	Abbey Capital Multi	Pair Corr
0.96	BXMYX	Blackstone Alternative	Pair Corr
0.96	BXMIX	Blackstone Alternative	Pair Corr
0.96	BXMDX	Blackstone Alternative	Pair Corr
0.98	GARTX	Goldman Sachs Absolute	Pair Corr
0.98	GCRTX	Goldman Sachs Absolute	Pair Corr
0.72	PDI	Pimco Dynamic Income	Pair Corr
0.72	FTCAX	Templeton Strained Bond	Pair Corr
0.96	OAAIX	Oppenheimer Aggrssv	Pair Corr
0.97	SHXYX	American Beacon Shapiro	Pair Corr
0.98	ISGAX	Voya Solution Balanced	Pair Corr
0.97	MECZX	Amg Managers Cadence	Pair Corr
0.97	MCYIX	Mainstay Candriam	Pair Corr
0.71	XHYIX	Western Asset High	Pair Corr
0.93	RVPHX	Royce Smaller Companies	Pair Corr
0.75	VFIAX	Vanguard 500 Index	Pair Corr
0.78	PINFX	Invesco Multi Asset	Pair Corr
0.97	VWWOX	Vwwox	Pair Corr
0.98	VLSMX	Valic Company I	Pair Corr
0.93	KNGLX	Cboe Vest Sp	Pair Corr
0.97	LEKKX	Blackrock Lifepath Esg	Pair Corr
0.75	PPNMX	Smallcap Growth	Pair Corr
0.96	USDIX	Ubs Ultra Short	Pair Corr

Moving against Abbey Mutual Fund

0.74	USPSX	Profunds Ultrashort	Pair Corr
0.58	ABYCX	Abbey Capital Futures	Pair Corr
0.51	ABYAX	Abbey Capital Futures	Pair Corr
0.4	ABYIX	Abbey Capital Futures	Pair Corr
0.74	USPIX	Profunds Ultrashort	Pair Corr
0.73	UIPIX	Ultrashort Mid Cap	Pair Corr

Related Correlations Analysis

	ABYIX	ABYAX	ABYCX	MAFAX	MAFCX	MAFIX
ABYIX		0.87	0.86	-0.4	-0.41	-0.41	ABYIX
ABYAX	0.87		0.99	-0.51	-0.51	-0.51	ABYAX
ABYCX	0.86	0.99		-0.58	-0.58	-0.58	ABYCX
MAFAX	-0.4	-0.51	-0.58		1.0	1.0	MAFAX
MAFCX	-0.41	-0.51	-0.58	1.0		1.0	MAFCX
MAFIX	-0.41	-0.51	-0.58	1.0	1.0		MAFIX
	ABYIX	ABYAX	ABYCX	MAFAX	MAFCX	MAFIX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MAFCX	+ 1.0	MAFAX
MAFIX	+ 1.0	MAFAX
MAFIX	+ 1.0	MAFCX
ABYCX	+ 0.99	ABYAX
ABYAX	+ 0.87	ABYIX
ABYCX	+ 0.86	ABYIX

High negative correlations

MAFIX	- 0.58	ABYCX
MAFCX	- 0.58	ABYCX
MAFAX	- 0.58	ABYCX
MAFIX	- 0.51	ABYAX
MAFCX	- 0.51	ABYAX
MAFAX	- 0.51	ABYAX

Risk-Adjusted Indicators

There is a big difference between Abbey Mutual Fund performing well and Abbey Capital 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 Abbey Capital'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
ABYIX	0.21	(0.03)	0.00	5.80	0.00	0.00	0.38	(0.48)	1.24
ABYAX	0.21	(0.01)	0.00	0.21	0.00	0.00	0.48	(0.48)	1.44
ABYCX	0.20	(0.01)	0.00	0.24	0.00	0.00	0.40	(0.50)	1.60
MAFAX	0.40	0.06	(0.02)	0.29	0.23	(0.49)	1.05	(0.75)	2.57
MAFCX	0.39	0.06	(0.03)	0.28	0.25	(0.47)	1.07	(0.77)	2.64
MAFIX	0.41	0.07	(0.02)	0.30	0.25	(0.48)	1.04	(0.75)	2.75

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