Absolute Convertible Correlations

ARBOX Fund

USD 11.94 0.01 0.08%

The current 90-days correlation between Absolute Convertible and Ab Select Equity is 0.6 (i.e., Poor diversification). The correlation of Absolute Convertible 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.

Absolute Convertible Correlation With Market

Very weak diversification

The correlation between Absolute Convertible Arbitrage and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Absolute Convertible Arbitrage 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 Absolute Convertible Arbitrage. 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 metropolitan statistical area.

Moving together with Absolute Mutual Fund

1.0	ARBIX	Absolute Convertible	Pair Corr
0.93	ACEFX	Absolute Cef Opportu	Pair Corr
0.98	CVSCX	Calamos Market Neutral	Pair Corr
0.99	CVSIX	Calamos Market Neutral	Pair Corr
0.99	CVSOX	Calamos Market Neutral	Pair Corr
0.99	CMNIX	Calamos Market Neutral	Pair Corr
0.75	ADAIX	Aqr Diversified Arbitrage	Pair Corr
0.92	QDARX	Aqr Diversified Arbitrage	Pair Corr
0.99	FSAWX	Fidelity Sai Convertible	Pair Corr
0.79	GPBFX	Gmo E Plus	Pair Corr
0.87	GPMFX	Guidepath Managed Futures	Pair Corr
0.81	PQTAX	Pimco Trends Managed	Pair Corr
0.87	PQTNX	Pimco Trends Managed	Pair Corr
0.84	PQTIX	Aa Pimco Tr	Pair Corr
0.88	WARCX	Wells Fargo Advantage	Pair Corr
0.93	BRWBX	Mfs Blended Research	Pair Corr
0.73	BDAIX	Baron Durable Advantage	Pair Corr
0.97	REMIX	Standpoint Multi Asset	Pair Corr
0.78	HFESX	Janus Henderson European	Pair Corr
0.94	RDLTX	American Funds 2065	Pair Corr
0.83	MKCPX	Blackrock Balanced	Pair Corr
0.78	AMEFX	Income Fund	Pair Corr
0.91	MDBRX	Massmutual Premier	Pair Corr
0.86	VBINX	Vanguard Balanced Index	Pair Corr
0.92	MDMTX	Blrc Sgy Mnp	Pair Corr
0.85	ECSCX	Eaton Vance South	Pair Corr
0.76	LCORX	Leuthold E Investment	Pair Corr
0.83	FHKIX	Fidelity China Region	Pair Corr
0.93	JTSQX	Jp Morgan Smartretirement	Pair Corr
0.89	HRLAX	Hartford Global	Pair Corr
0.78	TSGAX	Timothy Strategic Growth	Pair Corr
0.92	BICBX	Sterling Capital Total	Pair Corr
0.95	PDDGX	Prudential Day One	Pair Corr
0.61	EVIBX	Eaton Vance Income	Pair Corr
0.96	FLSZX	Franklin Lifesmart 2055	Pair Corr

Moving against Absolute Mutual Fund

0.86

CAPOX

Absolute Capital Opp

Pair Corr

Related Correlations Analysis

	AUUIX	FBANJX	LMUSX	FKHEMX	HDCAX	IEMSX	IAADX	FLKYPX
AUUIX		0.95	0.98	0.95	0.92	0.92	0.93	0.7	AUUIX
FBANJX	0.95		0.94	0.99	0.95	0.95	0.92	0.77	FBANJX
LMUSX	0.98	0.94		0.94	0.92	0.92	0.94	0.71	LMUSX
FKHEMX	0.95	0.99	0.94		0.97	0.96	0.93	0.75	FKHEMX
HDCAX	0.92	0.95	0.92	0.97		0.98	0.92	0.83	HDCAX
IEMSX	0.92	0.95	0.92	0.96	0.98		0.94	0.79	IEMSX
IAADX	0.93	0.92	0.94	0.93	0.92	0.94		0.67	IAADX
FLKYPX	0.7	0.77	0.71	0.75	0.83	0.79	0.67		FLKYPX
	AUUIX	FBANJX	LMUSX	FKHEMX	HDCAX	IEMSX	IAADX	FLKYPX

Risk-Adjusted Indicators

There is a big difference between Absolute Mutual Fund performing well and Absolute Convertible 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 Absolute Convertible'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
AUUIX	0.42	0.01	(0.01)	0.11	0.48	(0.45)	1.01	(0.69)	3.77
FBANJX	0.42	0.08	(0.05)	(0.59)	0.48	(0.48)	0.97	(0.66)	3.78
LMUSX	0.48	0.04	0.04	0.14	0.51	(0.52)	1.15	(0.68)	4.03
FKHEMX	0.54	0.13	0.02	(0.77)	0.58	(0.62)	1.24	(0.92)	4.12
HDCAX	0.47	0.13	0.03	(0.90)	0.44	(0.53)	1.01	(0.73)	2.95
IEMSX	0.57	0.17	0.11	(14.72)	0.40	(0.67)	1.45	(1.13)	3.22
IAADX	0.19	0.07	(0.17)	(1.20)	0.00	(0.28)	0.43	(0.21)	1.14
FLKYPX	0.67	0.12	0.04	2.30	0.70	(0.78)	1.61	(1.10)	4.66

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