Ab Global Correlations

Mutual Funds USA . 
Fund . Ab Global Bond
ANAIX Fund  USD 6.92  0.03  0.44%   
The current 90-days correlation between Ab Global Bond and Fidelity Sai Inflationfocused is -0.11 (i.e., Good diversification). The correlation of Ab Global 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 Global Correlation With Market

Good diversification

The correlation between Ab Global Bond and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab Global Bond 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 Global Bond. 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 ANAIX Mutual Fund

  0.92AMNCX Ab Minnesota PortfolioPairCorr
  0.83AMNAX Ab Minnesota PortfolioPairCorr
  1.0ANAZX Ab Global BondPairCorr
  1.0ANAYX Ab Global BondPairCorr
  0.99ANAGX Ab Global BondPairCorr
  1.0ANACX Ab Global BondPairCorr
  0.83ANBIX Ab Bond InflationPairCorr
  0.79ANIAX New York MunicipalPairCorr
  0.86ANJAX Ab New JerseyPairCorr
  0.8ANIYX New York MunicipalPairCorr
  0.86ANMCX New York MunicipalPairCorr
  0.9ANYCX Ab New YorkPairCorr
  0.95STHAX Ab Sustainable ThematicPairCorr
  0.98STHYX Ab Sustainable ThematicPairCorr
  0.87AOHAX Ab Ohio PortfolioPairCorr
  0.89AOHCX Ab Ohio PortfolioPairCorr
  0.68APAAX Ab Pennsylvania PortfolioPairCorr
  0.74APACX Ab Pennsylvania PortfolioPairCorr

Moving against ANAIX Mutual Fund

  0.58SCAVX Ab Small CapPairCorr
  0.58SCCVX Ab Small CapPairCorr
  0.7ASILX Ab Select LongshortPairCorr
  0.7ASLAX Ab Select LongshortPairCorr
  0.69ASCLX Ab Select LongshortPairCorr
  0.68APGZX Ab Large CapPairCorr
  0.68APGYX Ab Large CapPairCorr
  0.68APGAX Ab Large CapPairCorr
  0.64ABASX Ab Discovery ValuePairCorr
  0.61CHCLX Ab Discovery GrowthPairCorr
  0.61CHCIX Ab Discovery GrowthPairCorr
  0.61CHCYX Ab Discovery GrowthPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
IBRAX
+ 0.99
FIPRX
LIFAX
+ 0.83
APISX
APISX
+ 0.6
QMHIX
APISX
+ 0.59
IBRAX
LIFAX
+ 0.58
FIFGX
APISX
+ 0.56
FIPRX
  
High negative correlations   
FIPRX
- 0.09
FIFGX
IBRAX
- 0.0
FIFGX

Risk-Adjusted Indicators

There is a big difference between ANAIX Mutual Fund performing well and Ab Global 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 Global'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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