Ab Discovery Correlations

ABSIX Fund

USD 20.89 0.45 2.20%

The current 90-days correlation between Ab Discovery Value and Dws Emerging Markets is -0.11 (i.e., Good diversification). The correlation of Ab Discovery 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 Discovery Correlation With Market

Poor diversification

The correlation between Ab Discovery Value and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab Discovery Value 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 Ab Discovery Value. 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 gross domestic product.

Moving together with ABSIX Mutual Fund

0.96	SCYVX	Ab Small Cap	Pair Corr
1.0	ABYSX	Ab Discovery Value	Pair Corr

Moving against ABSIX Mutual Fund

0.72	AMTAX	Ab All Market	Pair Corr
0.71	ABIMX	Ab Impact Municipal	Pair Corr
0.71	ABTYX	Ab High Income	Pair Corr
0.71	ABTHX	Ab High Income	Pair Corr
0.58	ABIEX	Ab Emerging Markets	Pair Corr
0.56	AMTOX	Ab All Market	Pair Corr
0.51	ABVCX	Ab Value Fund	Pair Corr
0.49	ASLAX	Ab Select Longshort	Pair Corr
0.41	ANAZX	Ab Global Bond	Pair Corr
0.4	ANAGX	Ab Global Bond	Pair Corr
0.39	ANAYX	Ab Global Bond	Pair Corr
0.37	ANAIX	Ab Global Bond	Pair Corr
0.73	SNDPX	Diversified Municipal	Pair Corr
0.72	AUNOX	Ab Municipal Bond	Pair Corr
0.72	AIDZX	Diversified Municipal	Pair Corr
0.71	AIDYX	Diversified Municipal	Pair Corr
0.69	AUNYX	Ab Municipal Bond	Pair Corr
0.69	AVACX	Ab Virginia Portfolio	Pair Corr
0.68	AUNTX	Ab Municipal Bond	Pair Corr
0.65	AUNCX	Ab Municipal Bond	Pair Corr
0.63	SNCAX	California Municipal	Pair Corr

Related Correlations Analysis

	SEKRX	FEMDX	AUERX	MFTTX	DBELX	SGICX	FHTFX	LMUSX
SEKRX		0.85	0.66	0.74	0.89	0.68	0.88	0.88	SEKRX
FEMDX	0.85		0.65	0.57	0.93	0.64	0.92	0.81	FEMDX
AUERX	0.66	0.65		0.68	0.7	0.7	0.73	0.75	AUERX
MFTTX	0.74	0.57	0.68		0.66	0.6	0.74	0.7	MFTTX
DBELX	0.89	0.93	0.7	0.66		0.72	0.94	0.8	DBELX
SGICX	0.68	0.64	0.7	0.6	0.72		0.64	0.64	SGICX
FHTFX	0.88	0.92	0.73	0.74	0.94	0.64		0.84	FHTFX
LMUSX	0.88	0.81	0.75	0.7	0.8	0.64	0.84		LMUSX
	SEKRX	FEMDX	AUERX	MFTTX	DBELX	SGICX	FHTFX	LMUSX

Risk-Adjusted Indicators

There is a big difference between ABSIX Mutual Fund performing well and Ab Discovery 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 Discovery'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
SEKRX	0.80	0.08	0.02	1.77	1.03	(0.80)	1.54	(1.20)	5.48
FEMDX	0.15	0.05	(0.01)	(11.00)	0.00	(0.20)	0.39	(0.31)	0.86
AUERX	0.81	0.08	0.07	0.13	0.95	(0.90)	1.72	(1.72)	4.33
MFTTX	1.10	0.09	0.07	0.15	1.14	(1.35)	2.91	(1.80)	6.72
DBELX	0.22	0.03	(0.07)	5.58	0.20	(0.24)	0.42	(0.53)	1.28
SGICX	0.39	0.02	(0.06)	0.38	0.50	(0.42)	0.87	(0.92)	2.54
FHTFX	0.13	0.06	0.06	1.67	0.00	(0.24)	0.39	(0.13)	1.16
LMUSX	0.56	0.04	0.03	0.09	0.77	(0.52)	1.25	(1.38)	3.59

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