Ab Small Correlations

Mutual Funds . USA . 
Fund . Ab Small Cap
SCYVX Fund  USD 15.20  0.01  0.07%   
The current 90-days correlation between Ab Small Cap and Ab Discovery Growth is 0.72 (i.e., Poor diversification). The correlation of Ab Small 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 Small Correlation With Market

Very poor diversification

The correlation between Ab Small Cap and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab Small Cap 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 Small Cap. 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 unemployment.

Moving together with SCYVX Mutual Fund

  0.9AMTOX Ab All MarketPairCorr
  0.62ANAGX Ab Global BondPairCorr
  0.74ANBIX Ab Bond InflationPairCorr
  0.73ABNTX Ab Bond InflationPairCorr
  0.73ABNOX Ab Bond InflationPairCorr
  0.74ABNCX Ab Bond InflationPairCorr
  0.74ABNAX Ab Bond InflationPairCorr
  0.73ABNYX Ab Bond InflationPairCorr
  0.82ABPYX Ab Servative WealthPairCorr
  0.91ABVCX Ab Value FundPairCorr
  0.97ABYSX Ab Discovery ValuePairCorr
  0.81ATWCX Ab Tax ManagedPairCorr
  0.79AUNTX Ab Municipal BondPairCorr
  0.79AUNCX Ab Municipal BondPairCorr
  0.85AUUIX Ab Select EquityPairCorr
  0.79AWPIX Ab International GrowthPairCorr
  0.88QUAIX Ab Small CapPairCorr
  0.78AGDAX Ab High IncomePairCorr
  0.78AGDZX Ab High IncomePairCorr
  0.74SNCAX California MunicipalPairCorr
  0.85CABIX Ab Global RiskPairCorr
  0.72WPASX Ab Centrated GrowthPairCorr
  0.85CBSYX Ab Global RiskPairCorr
  0.96VSIIX Vanguard Small CapPairCorr
  0.96VISVX Vanguard Small CapPairCorr
  0.98DFSVX Us Small CapPairCorr
  0.98DFFVX Us Targeted ValuePairCorr
  0.98UBVCX Undiscovered ManagersPairCorr
  0.9UBVAX Undiscovered ManagersPairCorr
  0.98UBVSX Undiscovered ManagersPairCorr
  0.98AVFIX American Beacon SmallPairCorr
  0.71MGHRX Morgan Stanley Insti Steady GrowthPairCorr
  0.74MBIRX Morgan Stanley Insight Steady GrowthPairCorr
  0.7MGRPX Growth Portfolio Class Steady GrowthPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between SCYVX Mutual Fund performing well and Ab Small 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 Small'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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