Absolute Capital Correlations

Mutual Funds . USA . 
Fund . Absolute Capital Defender
ACMAX Fund  USD 11.32  0.04  0.35%   
The current 90-days correlation between Absolute Capital Defender and Artisan High Income is 0.68 (i.e., Poor 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

Good diversification

The correlation between Absolute Capital Defender and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Absolute Capital Defender 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 Defender. 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 Absolute Mutual Fund

  0.99AAMIX Absolute Capital AssetPairCorr
  0.99AAMAX Absolute Capital AssetPairCorr
  0.99AAMCX Absolute Capital AssetPairCorr
  1.0ACMIX Absolute Capital DefenderPairCorr
  1.0ACMDX Absolute Capital DefenderPairCorr
  0.91PAALX All Asset FundPairCorr
  0.9PATRX Pimco All AssetPairCorr
  0.9PAAIX All Asset FundPairCorr
  0.91PALPX Pimco All AssetPairCorr
  0.9PASAX All Asset FundPairCorr
  0.9PASCX All Asset FundPairCorr
  0.91PAANX Pimco All AssetPairCorr
  0.88PAUPX Pimco All AssetPairCorr
  0.87PAUIX Pimco All AssetPairCorr
  0.8HLDIX Hartford EmergingPairCorr
  0.79HLDRX Hartford EmergingPairCorr
  0.8HLDAX Hartford EmergingPairCorr
  0.8HLDCX Hartford EmergingPairCorr
  0.8HLDTX Hartford EmergingPairCorr
  0.86FUGIX Fidelity Advisor UtiPairCorr
  0.98VQNPX Vanguard Growth AndPairCorr
  0.88FZILX Fidelity Zero InternPairCorr
  0.93EIDOX Eaton Vance EmergingPairCorr
  0.87VIGAX Vanguard Growth IndexPairCorr
  0.84FDEGX Fidelity Growth StraPairCorr
  0.63VFSTX Vanguard Short TermPairCorr
  0.9FDHCX First Trust ShortPairCorr
  0.63GFSZX Strategic AlternativesPairCorr
  0.82GISYX Grandeur Peak InternPairCorr
  0.68VMFXX Vanguard Federal MoneyPairCorr
  0.88JACCX Janus Forty FundPairCorr

Related Correlations Analysis

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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.

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