Api Multi-asset Correlations

APIIX Fund

USD 9.13 0.01 0.11%

The current 90-days correlation between Api Multi Asset and Ashmore Emerging Markets 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

Good diversification

The correlation between Api Multi Asset Income and DJI is -0.2 (i.e., Good 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

0.68	PONAX	Pimco Income	Pair Corr
0.91	PONCX	Pimco Income	Pair Corr
0.92	PIPNX	Pimco Income	Pair Corr
0.98	PONRX	Pimco Income	Pair Corr
0.72	PONPX	Pimco Incme Fund	Pair Corr
0.98	PIINX	Pimco Income	Pair Corr
0.92	PIMIX	Pimco Income	Pair Corr
0.63	LBNDX	Lord Abbett Bond	Pair Corr
0.91	FSTAX	Fidelity Advisor Str	Pair Corr
0.9	FSRIX	Fidelity Advisor Str	Pair Corr
0.62	WATPX	Western Asset Inflation	Pair Corr
0.86	JNRFX	Janus Research	Pair Corr
0.61	MAUKX	Pioneer Multi Asset	Pair Corr
0.81	UIVMX	Mfs Intrinsic Value	Pair Corr
0.8	HHMIX	The Hartford Municipal	Pair Corr
0.61	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr

Moving against Api Mutual Fund

0.75	MCD	McDonalds	Pair Corr
0.52	TRV	The Travelers Companies	Pair Corr
0.43	VZ	Verizon Communications Aggressive Push	Pair Corr
0.35	PG	Procter Gamble Earnings Call This Week	Pair Corr

Related Correlations Analysis

	ECDAX	BXHCX	SGYAX	SNCAX	ABNTX	AXBIX	OWCAX
ECDAX		0.89	0.88	0.89	0.73	0.79	0.87	ECDAX
BXHCX	0.89		0.98	0.94	0.77	0.85	0.97	BXHCX
SGYAX	0.88	0.98		0.93	0.81	0.83	0.96	SGYAX
SNCAX	0.89	0.94	0.93		0.81	0.93	0.96	SNCAX
ABNTX	0.73	0.77	0.81	0.81		0.61	0.81	ABNTX
AXBIX	0.79	0.85	0.83	0.93	0.61		0.87	AXBIX
OWCAX	0.87	0.97	0.96	0.96	0.81	0.87		OWCAX
	ECDAX	BXHCX	SGYAX	SNCAX	ABNTX	AXBIX	OWCAX

Click cells to compare fundamentals

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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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ECDAX	0.14	0.02	(0.92)	(3.39)	(0.26)	0.37	(0.18)	0.92
BXHCX	0.15	0.07	(0.77)	(3.79)	(0.24)	0.50	(0.13)	1.02
SGYAX	0.16	0.05	(1.03)	0.56	(0.29)	0.59	(0.14)	0.99
SNCAX	0.08	0.01	(1.96)	0.81	(0.12)	0.22	(0.15)	0.44
ABNTX	0.13	0.03	(0.84)	(0.91)	(0.17)	0.29	(0.29)	1.08
AXBIX	0.11	0.01	(1.44)	0.69	(0.18)	0.29	(0.19)	0.86
OWCAX	0.08	0.02	(1.28)	10.33	(0.12)	0.21	(0.11)	0.53

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