Absolute Capital Correlations

Mutual Funds . USA . 
Fund . Absolute Capital Defender
ACMAX Fund  USD 12.09  0.01  0.08%   
The current 90-days correlation between Absolute Capital Defender and Nuveen Ohio Municipal is 0.21 (i.e., Modest 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

Almost no diversification

The correlation between Absolute Capital Defender and DJI is 0.93 (i.e., Almost no 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

  0.95TEBRX Teberg FundPairCorr
  0.9AAMIX Absolute Capital AssetPairCorr
  0.68AAMAX Absolute Capital AssetPairCorr
  0.87AAMCX Absolute Capital AssetPairCorr
  1.0ACMDX Absolute Capital DefenderPairCorr
  0.93PAALX All Asset FundPairCorr
  0.93PATRX Pimco All AssetPairCorr
  0.93PAAIX All Asset FundPairCorr
  0.93PALPX Pimco All AssetPairCorr
  0.94PASAX All Asset FundPairCorr
  0.93PASCX All Asset FundPairCorr
  0.93PAANX Pimco All AssetPairCorr
  0.92PAUPX Pimco All AssetPairCorr
  0.92PAUIX Pimco All AssetPairCorr
  0.87WARRX Wells Fargo AdvantagePairCorr
  0.91FSMMX Fs Multi StrategyPairCorr
  0.97BTMPX Ishares Msci EafePairCorr
  0.95BTMKX Blackrock InternationalPairCorr
  0.95MDIIX Blackrock Intern IndexPairCorr
  0.83SPMPX Invesco Steelpath MlpPairCorr
  0.83MLPNX Oppenheimer Steelpath MlpPairCorr
  0.83MLPMX Oppenheimer Steelpath MlpPairCorr
  0.82SPMJX Invesco Steelpath MlpPairCorr
  0.95EMACX Enterprise Mergers AndPairCorr
  0.85NSRSX Neuberger Berman SmallPairCorr
  0.94EVCLX Eaton Vance MunicipalPairCorr
  0.92SSDEX State Street TargetPairCorr
  0.89GMOWX Gmo ResourcesPairCorr
  0.93EIGMX Eaton Vance GlobalPairCorr
  0.9GZIRX Goldman Sachs StrategicPairCorr
  0.92HERIX Hartford Emerging MarketsPairCorr
  0.75RPTTX T Rowe PricePairCorr
  0.98RLGAX Riverfront Dynamic EquityPairCorr
  0.88THRLX Thornburg Limited TermPairCorr
  0.93TIBRX Thornburg InvestmentPairCorr
  0.79CWBCX Capital World BondPairCorr
  0.69PFNUX Pimco Dynamic BondPairCorr
  0.79PGRQX Prudential Global RealPairCorr
  0.91LHYRX Lord Abbett HighPairCorr

Related Correlations Analysis


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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