Ab Sustainable Correlations

Mutual Funds . USA . 
Fund . Ab Sustainable Thematic
STHAX Fund  USD 8.35  0.02  0.24%   
The current 90-days correlation between Ab Sustainable Thematic and Ab Global E is 0.09 (i.e., Significant diversification). The correlation of Ab Sustainable 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 Sustainable Correlation With Market

Weak diversification

The correlation between Ab Sustainable Thematic and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab Sustainable Thematic and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Ab Sustainable Thematic. 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 STHAX Mutual Fund

  0.77GCEAX Ab Global EPairCorr
  0.79GCECX Ab Global EPairCorr
  0.79GCEYX Ab Global EPairCorr
  0.83AMTAX Ab All MarketPairCorr
  0.83AMTZX Ab All MarketPairCorr
  0.83AMTYX Ab All MarketPairCorr
  0.84AMTOX Ab All MarketPairCorr
  0.94ANAZX Ab Global BondPairCorr
  0.94ANAYX Ab Global BondPairCorr
  0.93ANAGX Ab Global BondPairCorr
  0.95ANAIX Ab Global BondPairCorr
  0.94ANACX Ab Global BondPairCorr
  0.81ANBIX Ab Bond InflationPairCorr
  0.83ANIAX New York MunicipalPairCorr
  0.82ANIYX New York MunicipalPairCorr
  0.86ANMCX New York MunicipalPairCorr
  0.84STEYX International StrategicPairCorr
  0.84STEZX International StrategicPairCorr
  0.84STESX International StrategicPairCorr
  0.88STHYX Ab Sustainable ThematicPairCorr
  0.74SCAVX Ab Small CapPairCorr
  0.75SCCVX Ab Small CapPairCorr
  0.8SCRSX Small Cap CorePairCorr
  0.8SCRYX Small Cap CorePairCorr
  0.8SCRZX Small Cap CorePairCorr
  0.74SCYVX Ab Small CapPairCorr
  0.79APGZX Ab Large CapPairCorr
  0.79APGYX Ab Large CapPairCorr
  0.79APGAX Ab Large CapPairCorr
  0.79APGCX Ab Large CapPairCorr
  0.78SUTAX Ab Sustainable ThematicPairCorr
  0.79SUTCX Ab Sustainable ThematicPairCorr
  0.79SUTZX Ab Sustainable ThematicPairCorr
  0.82APWIX Ab Servative WealthPairCorr
  0.79CHCLX Ab Discovery GrowthPairCorr
  0.8CHCIX Ab Discovery GrowthPairCorr
  0.8CHCCX Ab Discovery GrowthPairCorr
  0.8CHCYX Ab Discovery GrowthPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between STHAX Mutual Fund performing well and Ab Sustainable 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 Sustainable'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  0.59  0.24  0.11 (3.11) 0.44 
(0.64)
 1.64 
(1.29)
 4.74 
GCECX  0.59  0.10  0.09  0.25  0.51 
(0.65)
 1.63 
(1.33)
 4.77 
GCEYX  0.59  0.10  0.09  0.26  0.43 
(0.65)
 1.58 
(1.29)
 4.74 
AMTAX  0.37  0.15  0.03 (3.12) 0.00 
(0.46)
 1.19 
(0.71)
 2.17 
AMTZX  0.36  0.15  0.03 (2.77) 0.00 
(0.44)
 1.21 
(0.72)
 2.21 
AMTYX  0.37  0.15  0.03 (2.83) 0.00 
(0.46)
 1.09 
(0.71)
 2.25 
AMTOX  0.36  0.10  0.01  0.55  0.00 
(0.43)
 1.19 
(0.68)
 2.18 
ANAZX  0.18  0.03 (0.45)(0.92) 0.00 
(0.25)
 0.44 
(0.29)
 0.88 
ANAYX  0.18  0.03 (0.46)(1.84) 0.00 
(0.21)
 0.29 
(0.29)
 0.88 
ANAGX  0.16  0.02 (0.49)(1.06) 0.02 
(0.21)
 0.29 
(0.29)
 0.88 

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