Absolute Capital Correlations

Mutual Funds . USA . 
Fund . Absolute Capital Opportunities
CAPOX Fund  USD 10.39  0.02  0.19%   
The current 90-days correlation between Absolute Capital Opp and Fbanjx is 0.4 (i.e., Very 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

Average diversification

The correlation between Absolute Capital Opportunities and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Absolute Capital Opportunities 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 Opportunities. 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 producer price index.

Moving against Absolute Mutual Fund

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  0.66GATEX Gateway Fund ClassPairCorr
  0.65GTEYX Gateway Fund ClassPairCorr
  0.64GTECX Gateway Fund ClassPairCorr
  0.63SMPIX Semiconductor UltrasectorPairCorr
  0.57RSNYX Victory Global NaturalPairCorr
  0.56RSNRX Victory Global NaturalPairCorr
  0.56RGNCX Victory Global NaturalPairCorr
  0.55ACEFX Absolute Cef OpportuPairCorr
  0.55JHDRX Jpmorgan Hedged EquityPairCorr
  0.54JHDAX Jpmorgan Hedged EquityPairCorr
  0.5JHEQX Jpmorgan Hedged EquityPairCorr
  0.5JHDCX Jpmorgan Hedged EquityPairCorr
  0.49JHQAX Jpmorgan Hedged EquityPairCorr
  0.44JHQCX Jpmorgan Hedged EquityPairCorr
  0.84THISX T Rowe PricePairCorr
  0.75DLTZX Delaware Limited TermPairCorr
  0.72DIAMX Diamond Hill LongPairCorr
  0.62USAWX World GrowthPairCorr
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  0.53VTSAX Vanguard Total StockPairCorr
  0.51CWGFX Capital World GrowthPairCorr
  0.49RMLCX Moderate StrategyPairCorr
  0.49WINDX Wilshire 5000 IndexPairCorr
  0.48FGDTX Gold Portfolio FidelityPairCorr
  0.48PDINX Putnam Diversified IncomePairCorr
  0.44NSRSX Neuberger Berman SmallPairCorr
  0.87USDIX Ubs Ultra ShortPairCorr
  0.85TOWFX Towpath FocusPairCorr

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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