Ab New Correlations

ANJCX Fund

USD 9.15 0.04 0.44%

The current 90-days correlation between Ab New Jersey and Pnc Emerging Markets is -0.23 (i.e., Very good diversification). The correlation of Ab New 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 New Correlation With Market

Good diversification

The correlation between Ab New Jersey 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 Ab New Jersey 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 New Jersey. 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 ANJCX Mutual Fund

0.85	AMNCX	Ab Minnesota Portfolio	Pair Corr
0.88	AMNAX	Ab Minnesota Portfolio	Pair Corr
0.78	ANAZX	Ab Global Bond	Pair Corr
0.79	ANAYX	Ab Global Bond	Pair Corr
0.79	ANAGX	Ab Global Bond	Pair Corr
0.79	ANAIX	Ab Global Bond	Pair Corr
0.83	ANACX	Ab Global Bond	Pair Corr
0.94	ANIAX	New York Municipal	Pair Corr
0.99	ANJAX	Ab New Jersey	Pair Corr
0.95	ANIYX	New York Municipal	Pair Corr
0.94	ANMCX	New York Municipal	Pair Corr
0.96	ANYCX	Ab New York	Pair Corr
0.72	STHAX	Ab Sustainable Thematic	Pair Corr
0.7	STHYX	Ab Sustainable Thematic	Pair Corr
0.98	AOHAX	Ab Ohio Portfolio	Pair Corr
0.98	AOHCX	Ab Ohio Portfolio	Pair Corr
0.93	APAAX	Ab Pennsylvania Portfolio	Pair Corr
0.95	APACX	Ab Pennsylvania Portfolio	Pair Corr

Related Correlations Analysis

	PIEFX	EMDQX	SAEMX	JOEAX	SEDAX	SEDIX	RYACX
PIEFX		0.82	0.94	0.89	0.85	0.82	0.01	PIEFX
EMDQX	0.82		0.87	0.73	0.96	0.85	0.29	EMDQX
SAEMX	0.94	0.87		0.8	0.84	0.84	0.25	SAEMX
JOEAX	0.89	0.73	0.8		0.78	0.8	0.04	JOEAX
SEDAX	0.85	0.96	0.84	0.78		0.87	0.08	SEDAX
SEDIX	0.82	0.85	0.84	0.8	0.87		0.39	SEDIX
RYACX	0.01	0.29	0.25	0.04	0.08	0.39		RYACX
	PIEFX	EMDQX	SAEMX	JOEAX	SEDAX	SEDIX	RYACX

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Risk-Adjusted Indicators

There is a big difference between ANJCX Mutual Fund performing well and Ab New 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 New'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
PIEFX	1.13	0.07	0.00	(0.06)	0.00	0.00	2.06	(2.31)	6.94
EMDQX	0.31	0.06	0.44	0.58	0.25	(0.44)	0.89	(0.46)	1.75
SAEMX	0.61	0.03	0.17	0.00	0.88	(0.61)	1.17	(1.57)	3.59
JOEAX	0.97	0.00	0.00	(0.18)	0.00	0.00	1.65	(1.78)	8.91
SEDAX	0.26	0.05	0.47	0.24	0.26	(0.33)	0.59	(0.36)	1.30
SEDIX	0.10	0.01	0.43	0.01	0.17	(0.16)	0.21	(0.21)	1.48
RYACX	1.25	0.32	0.42	(2.54)	0.80	(1.58)	2.96	(1.58)	6.30

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Ab New Correlations

Ab New Correlation With Market

Good diversification

Moving together with ANJCX Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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