Ab Discovery Correlations

Mutual Funds USA . 
Fund . Ab Discovery Growth
CHCIX Fund  USD 11.77  0.09  0.76%   
The current 90-days correlation between Ab Discovery Growth and Goldman Sachs Technology is 0.95 (i.e., Almost no diversification). The correlation of Ab Discovery 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 Discovery Correlation With Market

Very poor diversification

The correlation between Ab Discovery Growth and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab Discovery Growth 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 Discovery Growth. 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 CHCIX Mutual Fund

  0.83GCEAX Ab Global EPairCorr
  0.84GCECX Ab Global EPairCorr
  0.83GCEYX Ab Global EPairCorr
  0.76AMTAX Ab All MarketPairCorr
  0.76AMTZX Ab All MarketPairCorr
  0.76AMTYX Ab All MarketPairCorr
  0.76AMTOX Ab All MarketPairCorr
  0.61ANIAX New York MunicipalPairCorr
  0.61ANIYX New York MunicipalPairCorr
  0.63ANMCX New York MunicipalPairCorr
  0.61ANYCX Ab New YorkPairCorr
  0.97SCAVX Ab Small CapPairCorr
  0.97SCCVX Ab Small CapPairCorr
  0.99SCRSX Small Cap CorePairCorr
  0.99SCRYX Small Cap CorePairCorr
  0.99SCRZX Small Cap CorePairCorr
  0.97SCYVX Ab Small CapPairCorr
  0.99APGZX Ab Large CapPairCorr
  0.99APGYX Ab Large CapPairCorr
  0.99APGAX Ab Large CapPairCorr
  0.99APGCX Ab Large CapPairCorr

Moving against CHCIX Mutual Fund

  0.75ANBIX Ab Bond InflationPairCorr
  0.35ANAGX Ab Global BondPairCorr
  0.31ANAZX Ab Global BondPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between CHCIX Mutual Fund performing well and Ab Discovery 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 Discovery'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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