Api Multi-asset Correlations

Mutual Funds . USA . 
Fund . Api Multi Asset Income
AFFIX Fund  USD 7.93  0.01  0.13%   
The current 90-days correlation between Api Multi Asset and Api Growth Fund is 0.03 (i.e., Significant diversification). The correlation of Api Multi-asset 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.

Api Multi-asset Correlation With Market

Significant diversification

The correlation between Api Multi Asset Income and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Api Multi Asset Income 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 Api Multi Asset Income. 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 Api Mutual Fund

  0.8APGRX Api Growth FundPairCorr
  0.96APIBX Api Short TermPairCorr
  0.61APIUX Api Multi AssetPairCorr
  0.8APITX Api Growth FundPairCorr
  0.94APIMX Api Short TermPairCorr
  0.97APIIX Api Multi AssetPairCorr
  0.81YOVLX Yorktown Small CapPairCorr
  0.97AFFCX Api Multi AssetPairCorr
  0.82AFGGX Api Growth FundPairCorr
  0.96AFMMX Api Short TermPairCorr
  0.63PONAX Pimco IncomePairCorr
  0.61PONCX Pimco IncomePairCorr
  0.61PIPNX Pimco IncomePairCorr
  0.63PONRX Pimco IncomePairCorr
  0.65PONPX Pimco Incme FundPairCorr
  0.63PIINX Pimco IncomePairCorr
  0.61PIMIX Pimco IncomePairCorr
  0.63LIIAX Columbia Porate IncomePairCorr
  0.95SRINX Columbia Porate IncomePairCorr
  0.91WRHIX Ivy High IncomePairCorr
  0.89AMTOX Ab All MarketPairCorr
  0.61SWCGX Schwab MarkettrackPairCorr
  0.91TBLPX T Rowe PricePairCorr
  0.9AMFCX American MutualPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Api Mutual Fund performing well and Api Multi-asset 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 Api Multi-asset'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
APGRX  0.81  0.22  0.07  1.83  0.64 
(0.98)
 2.34 
(1.36)
 5.51 
APIUX  0.14  0.01 (0.77) 0.54  0.00 
(0.18)
 0.24 
(0.24)
 0.83 
APITX  0.81  0.21  0.07  1.77  0.64 
(1.04)
 2.31 
(1.42)
 5.50 
APIMX  0.12  0.02 (0.57)(0.87) 0.00 
(0.26)
 0.26 
(0.26)
 0.52 
APIIX  0.15  0.03 (0.67)(4.46) 0.00 
(0.19)
 0.33 
(0.22)
 0.78 
YOVIX  0.72  0.12  0.09  0.34  0.36 
(0.96)
 1.94 
(0.92)
 5.03 
YOVLX  0.83  0.24  0.09  1.71  0.64 
(1.03)
 2.11 
(1.79)
 4.98 
YOVAX  0.73  0.14  0.11  0.37  0.37 
(0.90)
 1.99 
(0.88)
 5.01 
AFFIX  0.14  0.02 (0.67) 4.43  0.00 
(0.19)
 0.26 
(0.26)
 0.77 
AFFCX  0.14  0.02 (0.71)(13.30) 0.00 
(0.19)
 0.39 
(0.26)
 0.79 

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