Absolute Capital Correlations

Mutual Funds . USA . 
Fund . Absolute Capital Defender
ACMDX Fund  USD 10.84  0.03  0.28%   
The current 90-days correlation between Absolute Capital Defender and Multimanager Lifestyle Moderate is -0.09 (i.e., Good 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

Good diversification

The correlation between Absolute Capital Defender and DJI is -0.11 (i.e., Good 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 unemployment.

Moving together with Absolute Mutual Fund

  0.75AAMIX Absolute Capital AssetPairCorr
  0.76AAMAX Absolute Capital AssetPairCorr
  0.75AAMCX Absolute Capital AssetPairCorr
  0.76ACMIX Absolute Capital DefenderPairCorr
  0.76ACMAX Absolute Capital DefenderPairCorr
  0.82PAALX All Asset FundPairCorr
  0.97PATRX Pimco All AssetPairCorr
  0.82PAAIX All Asset FundPairCorr
  0.82PALPX Pimco All AssetPairCorr
  0.96PASAX All Asset FundPairCorr
  0.82PASCX All Asset FundPairCorr
  0.82PAANX Pimco All AssetPairCorr
  0.94PAUPX Pimco All AssetPairCorr
  0.8PAUIX Pimco All AssetPairCorr
  0.81HLDIX Hartford EmergingPairCorr
  0.93HLDRX Hartford EmergingPairCorr
  0.81HLDAX Hartford EmergingPairCorr
  0.81HLDCX Hartford EmergingPairCorr
  0.81HLDTX Hartford EmergingPairCorr
  0.68EMDCX Prudential EmergingPairCorr
  0.72MMNIX Miller Market NeutralPairCorr
  0.82FRAMX Fidelity Income ReplPairCorr
  0.98LMPLX Clearbridge Large CapPairCorr
  0.66SVALX Federated Strategic ValuePairCorr
  0.99TPILX Tiaa Cref LifecyclePairCorr
  0.76FRIFX Fidelity Real EstatePairCorr
  0.77NWALX Nationwide Bny MellonPairCorr
  0.91EMKAX Ashmore Emerging MarketsPairCorr
  0.74CSBYX Columbia Short TermPairCorr
  0.74GCECX Ab Global EPairCorr
  0.78WFOPX Wells Fargo OpportunityPairCorr
  0.82MHEIX Mh Elite IncomePairCorr

Moving against Absolute Mutual Fund

  0.67ABPRX Ab Large CapPairCorr

Related Correlations Analysis

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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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