Absolute Capital Correlations

AAMCX Fund

USD 11.68 0.07 0.60%

The current 90-days correlation between Absolute Capital Asset and Fidelity Sai Convertible is 0.31 (i.e., Weak diversification). The correlation of Absolute 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.

Absolute Capital Correlation With Market

Poor diversification

The correlation between Absolute Capital Asset and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Absolute Capital Asset 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 Absolute Capital Asset. 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 Absolute Mutual Fund

0.99	AAMIX	Absolute Capital Asset	Pair Corr
0.75	AAMAX	Absolute Capital Asset	Pair Corr
0.87	ACMIX	Absolute Capital Defender	Pair Corr
0.87	ACMDX	Absolute Capital Defender	Pair Corr
0.7	ACMAX	Absolute Capital Defender	Pair Corr

Related Correlations Analysis

	FSAWX	GCV	XNCVX	PBXIX	XAVKX	NCIDX
FSAWX		-0.36	0.05	0.07	0.14	-0.18	FSAWX
GCV	-0.36		0.69	0.39	0.6	0.8	GCV
XNCVX	0.05	0.69		0.46	0.76	0.89	XNCVX
PBXIX	0.07	0.39	0.46		0.24	0.49	PBXIX
XAVKX	0.14	0.6	0.76	0.24		0.68	XAVKX
NCIDX	-0.18	0.8	0.89	0.49	0.68		NCIDX
	FSAWX	GCV	XNCVX	PBXIX	XAVKX	NCIDX

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

NCIDX	+ 0.89	XNCVX
NCIDX	+ 0.8	GCV
XAVKX	+ 0.76	XNCVX
XNCVX	+ 0.69	GCV
NCIDX	+ 0.68	XAVKX
XAVKX	+ 0.6	GCV

High negative correlations

GCV	- 0.36	FSAWX
NCIDX	- 0.18	FSAWX

Risk-Adjusted Indicators

There is a big difference between Absolute Mutual Fund performing well and Absolute 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 Absolute 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
FSAWX	0.25	(0.08)	0.00	1.07	0.00	0.00	0.26	(0.26)	7.53
GCV	0.85	0.04	0.01	0.14	0.88	(1.00)	2.19	(1.68)	4.42
XNCVX	0.73	(0.01)	(0.07)	0.01	0.95	(0.84)	1.29	(1.74)	5.47
PBXIX	0.38	(0.05)	0.00	(0.03)	0.00	0.00	0.63	(0.90)	2.34
XAVKX	0.61	(0.04)	0.00	(0.40)	0.00	0.00	1.13	(1.67)	3.27
NCIDX	0.79	0.04	(0.02)	0.28	0.99	(0.79)	1.68	(1.76)	4.78

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