Ab Select Correlations

Mutual Funds . USA . 
Fund . Ab Select Equity
AUUIX Fund  USD 23.91  0.07  0.29%   
The current 90-days correlation between Ab Select Equity and Fidelity Advisor Health is 0.6 (i.e., Poor diversification). The correlation of Ab Select 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 Select Correlation With Market

Almost no diversification

The correlation between Ab Select Equity and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab Select Equity 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 Select Equity. 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 AUUIX Mutual Fund

  0.98GCEAX Ab Global EPairCorr
  0.99GCECX Ab Global EPairCorr
  0.99GCEYX Ab Global EPairCorr
  0.96AMTAX Ab All MarketPairCorr
  0.97AMTZX Ab All MarketPairCorr
  0.97AMTYX Ab All MarketPairCorr
  0.97AMTOX Ab All MarketPairCorr
  0.77ANAZX Ab Global BondPairCorr
  0.76ANAYX Ab Global BondPairCorr
  0.71ANAGX Ab Global BondPairCorr
  0.76ANAIX Ab Global BondPairCorr
  0.75ANACX Ab Global BondPairCorr
  0.77ANBIX Ab Bond InflationPairCorr
  0.88ANIAX New York MunicipalPairCorr
  0.9ANIYX New York MunicipalPairCorr
  0.85ANMCX New York MunicipalPairCorr
  0.97STEYX International StrategicPairCorr
  0.97STEZX International StrategicPairCorr
  0.96STESX International StrategicPairCorr
  0.81STHAX Ab Sustainable ThematicPairCorr
  0.83STHYX Ab Sustainable ThematicPairCorr
  0.96SCAVX Ab Small CapPairCorr
  0.97SCCVX Ab Small CapPairCorr
  0.97SCRSX Small Cap CorePairCorr
  0.97SCRYX Small Cap CorePairCorr
  0.99SCRZX Small Cap CorePairCorr
  0.96SCYVX Ab Small CapPairCorr
  0.99APGZX Ab Large CapPairCorr
  0.99APGYX Ab Large CapPairCorr
  0.97APGAX Ab Large CapPairCorr
  0.99APGCX Ab Large CapPairCorr
  0.98SUTAX Ab Sustainable ThematicPairCorr
  0.99SUTCX Ab Sustainable ThematicPairCorr
  0.99SUTZX Ab Sustainable ThematicPairCorr
  0.99APWIX Ab Servative WealthPairCorr
  0.99CHCLX Ab Discovery GrowthPairCorr
  0.99CHCIX Ab Discovery GrowthPairCorr
  0.97CHCCX Ab Discovery GrowthPairCorr
  0.99CHCYX Ab Discovery GrowthPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between AUUIX Mutual Fund performing well and Ab Select 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 Select'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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