Api Multi-asset Correlations

APIUX Fund

USD 8.57 0.01 0.12%

The current 90-days correlation between Api Multi Asset and Rationalpier 88 Convertible is -0.01 (i.e., Good 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 0.02 (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 employment.

Moving together with Api Mutual Fund

0.81	APGRX	Api Growth Fund	Pair Corr
0.97	APIBX	Api Short Term	Pair Corr
0.81	APITX	Api Growth Fund	Pair Corr
0.97	APIMX	Api Short Term	Pair Corr
0.97	APIIX	Api Multi Asset	Pair Corr
0.83	YOVIX	Yorktown Small Cap	Pair Corr
0.83	YOVLX	Yorktown Small Cap	Pair Corr
0.83	YOVAX	Yorktown Small Cap	Pair Corr
0.97	AFFIX	Api Multi Asset	Pair Corr
1.0	AFFCX	Api Multi Asset	Pair Corr
0.82	AFGGX	Api Growth Fund	Pair Corr
0.96	AFMMX	Api Short Term	Pair Corr
0.98	PONAX	Pimco Income	Pair Corr
0.98	PONCX	Pimco Income	Pair Corr
0.98	PIPNX	Pimco Income	Pair Corr
0.96	PONRX	Pimco Income	Pair Corr
0.96	PONPX	Pimco Incme Fund	Pair Corr
0.97	PIINX	Pimco Income	Pair Corr
0.98	PIMIX	Pimco Income	Pair Corr
0.97	LBNDX	Lord Abbett Bond	Pair Corr
0.97	FSTAX	Fidelity Advisor Str	Pair Corr
0.97	FSRIX	Fidelity Advisor Str	Pair Corr
0.99	LIIAX	Columbia Porate Income	Pair Corr
0.96	SRINX	Columbia Porate Income	Pair Corr
0.91	WRHIX	Ivy High Income	Pair Corr
0.91	WHIAX	Ivy High Income	Pair Corr
0.92	IHIFX	Ivy High Income	Pair Corr
0.92	IVHIX	Ivy High Income	Pair Corr
0.88	GGCAX	Gabelli Growth	Pair Corr
0.9	HRBDX	Harbor Bond Fund	Pair Corr
0.83	ARAIX	Ariel Fund Institutional	Pair Corr
0.67	BIFRX	Blackrock Intl Fd	Pair Corr
0.88	VIIIX	Vanguard Institutional	Pair Corr
0.92	MURHX	Mutual Of America	Pair Corr
0.86	UMEMX	Columbia Emerging Markets	Pair Corr
0.84	FSPSX	Fidelity International	Pair Corr
0.77	HSCSX	Small-company Stock	Pair Corr
0.94	NPSRX	Nuveen Preferred Sec	Pair Corr
0.94	BPLSX	Boston Partners Longshort	Pair Corr

Related Correlations Analysis

	PBXIX	XNCVX	XAVKX	LCFYX	FSAWX	GCV	CCD
PBXIX		0.89	0.89	0.9	0.84	0.82	0.11	PBXIX
XNCVX	0.89		0.98	0.99	0.95	0.97	-0.27	XNCVX
XAVKX	0.89	0.98		0.96	0.94	0.94	-0.19	XAVKX
LCFYX	0.9	0.99	0.96		0.94	0.98	-0.28	LCFYX
FSAWX	0.84	0.95	0.94	0.94		0.92	-0.25	FSAWX
GCV	0.82	0.97	0.94	0.98	0.92		-0.4	GCV
CCD	0.11	-0.27	-0.19	-0.28	-0.25	-0.4		CCD
	PBXIX	XNCVX	XAVKX	LCFYX	FSAWX	GCV	CCD

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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

LCFYX	+ 0.99	XNCVX
XAVKX	+ 0.98	XNCVX
GCV	+ 0.98	LCFYX
GCV	+ 0.97	XNCVX
LCFYX	+ 0.96	XAVKX
FSAWX	+ 0.95	XNCVX

High negative correlations

CCD	- 0.4	GCV
CCD	- 0.28	LCFYX
CCD	- 0.27	XNCVX
CCD	- 0.25	FSAWX
CCD	- 0.19	XAVKX

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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PBXIX	0.33	0.01	(0.29)	0.27	0.00	(0.44)	0.83	(0.46)	2.63
XNCVX	0.46	0.27	0.04	(3.60)	0.00	(0.65)	1.33	(0.78)	3.12
XAVKX	0.53	0.25	(0.02)	(1.48)	0.36	(0.62)	1.65	(1.32)	4.13
LCFYX	0.39	0.14	0.00	0.57	0.00	(0.52)	1.19	(0.50)	2.40
FSAWX	0.10	0.03	(1.81)	2.84	0.00	(0.16)	0.28	(0.09)	0.73
GCV	0.59	0.21	0.05	1.11	0.22	(0.82)	1.70	(0.87)	3.77
CCD	0.59	(0.03)	(0.17)	0.16	0.77	(0.62)	1.32	(1.03)	4.97

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