Absolute Capital Correlations

Mutual Funds . USA . 
Fund . Absolute Capital Defender
ACMIX Fund  USD 11.61  0.03  0.26%   
The current 90-days correlation between Absolute Capital Defender and Delaware Healthcare Fund is -0.15 (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 -0.12 (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 gross domestic product.

Moving together with Absolute Mutual Fund

  0.98AAMIX Absolute Capital AssetPairCorr
  1.0AAMAX Absolute Capital AssetPairCorr
  0.98AAMCX Absolute Capital AssetPairCorr
  0.98ACMDX Absolute Capital DefenderPairCorr
  1.0ACMAX Absolute Capital DefenderPairCorr
  0.66PAALX All Asset FundPairCorr
  0.75PATRX Pimco All AssetPairCorr
  0.67PAAIX All Asset FundPairCorr
  0.67PALPX Pimco All AssetPairCorr
  0.74PASAX All Asset FundPairCorr
  0.67PASCX All Asset FundPairCorr
  0.66PAANX Pimco All AssetPairCorr
  0.72PAUPX Pimco All AssetPairCorr
  0.64PAUIX Pimco All AssetPairCorr
  0.66HLDIX Hartford EmergingPairCorr
  0.74HLDRX Hartford EmergingPairCorr
  0.65HLDAX Hartford EmergingPairCorr
  0.67HLDCX Hartford EmergingPairCorr
  0.66HLDTX Hartford EmergingPairCorr
  0.94EMDCX Prudential EmergingPairCorr
  0.97MMNIX Miller Market NeutralPairCorr
  0.67FRAMX Fidelity Income ReplPairCorr
  0.97LMPLX Clearbridge Large CapPairCorr
  0.92SVALX Federated Strategic ValuePairCorr
  0.75TPILX Tiaa Cref LifecyclePairCorr
  0.7FRIFX Fidelity Real EstatePairCorr
  1.0NWALX Nationwide Bny MellonPairCorr
  0.77EMKAX Ashmore Emerging MarketsPairCorr
  0.94CSBYX Columbia Short TermPairCorr
  0.98GCECX Ab Global EPairCorr
  0.98WFOPX Wells Fargo OpportunityPairCorr
  0.66MHEIX Mh Elite IncomePairCorr

Moving against Absolute Mutual Fund

  0.83ABPRX 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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