Abbey Capital Correlations

ABYCX Fund

USD 10.49 0.04 0.38%

The current 90-days correlation between Abbey Capital Futures and Pimco Trends Managed is 0.81 (i.e., Very poor diversification). The correlation of Abbey 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.

Abbey Capital Correlation With Market

Good diversification

The correlation between Abbey Capital Futures and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Abbey Capital Futures 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 Abbey Capital Futures. 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 main economic indicators.

Moving together with Abbey Mutual Fund

0.92	ABYIX	Abbey Capital Futures	Pair Corr
0.92	ABYAX	Abbey Capital Futures	Pair Corr
0.97	PQTAX	Pimco Trends Managed	Pair Corr
0.97	PQTNX	Pimco Trends Managed	Pair Corr
0.8	AHLPX	American Beacon Ahl	Pair Corr
0.92	AMFNX	Asg Managed Futures	Pair Corr
0.89	AMFAX	Asg Managed Futures	Pair Corr
0.89	ASFYX	Asg Managed Futures	Pair Corr

Moving against Abbey Mutual Fund

0.54	VTSAX	Vanguard Total Stock	Pair Corr
0.54	VTSMX	Vanguard Total Stock	Pair Corr
0.54	VSMPX	Vanguard Total Stock	Pair Corr
0.54	VSTSX	Vanguard Total Stock	Pair Corr
0.51	VFIAX	Vanguard 500 Index	Pair Corr
0.51	VITSX	Vanguard Total Stock	Pair Corr
0.71	CLM	Cornerstone Strategic	Pair Corr
0.61	ETJ	Eaton Vance Risk	Pair Corr
0.6	CGCYX	Columbia Greater China	Pair Corr
0.59	CSQ	Calamos Strategic Total	Pair Corr
0.57	RGAAX	Growth Fund	Pair Corr
0.54	VFFSX	Vanguard 500 Index	Pair Corr
0.51	VFINX	Vanguard 500 Index	Pair Corr
0.45	WMICX	Wasatch Micro Cap	Pair Corr
0.42	MSTSX	Morningstar Unconstrained	Pair Corr
0.41	AMECX	Income Fund	Pair Corr
0.36	FWWNX	American Funds New	Pair Corr
0.36	VBIAX	Vanguard Balanced Index	Pair Corr
0.31	UCAGX	Cornerstone Aggressive	Pair Corr

Related Correlations Analysis

	PQTAX	PQTNX	ABYIX	AMFAX	ASFYX
PQTAX		1.0	0.92	0.87	0.87	PQTAX
PQTNX	1.0		0.92	0.87	0.88	PQTNX
ABYIX	0.92	0.92		0.94	0.95	ABYIX
AMFAX	0.87	0.87	0.94		1.0	AMFAX
ASFYX	0.87	0.88	0.95	1.0		ASFYX
	PQTAX	PQTNX	ABYIX	AMFAX	ASFYX

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Risk-Adjusted Indicators

There is a big difference between Abbey Mutual Fund performing well and Abbey 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 Abbey 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PQTAX	0.45	(0.02)	0.00	0.60	0.00	0.00	0.70	(1.01)	2.35
PQTNX	0.44	(0.04)	0.00	7.25	0.00	0.00	0.78	(0.99)	2.31
ABYIX	0.38	(0.07)	0.00	(0.04)	0.00	0.00	0.72	(0.82)	2.13
AMFAX	0.39	(0.06)	(0.28)	(0.02)	0.51	(0.43)	0.80	(0.91)	2.43
ASFYX	0.40	(0.07)	(0.29)	(0.02)	0.50	(0.45)	0.70	(0.90)	2.29

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