Ab Discovery Correlations

CHCLX Fund

USD 11.90 0.23 1.97%

The current 90-days correlation between Ab Discovery Growth and Ab Small Cap is 0.97 (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

Good diversification

The correlation between Ab Discovery Growth and DJI is -0.02 (i.e., Good 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 inflation.

Moving together with CHCLX Mutual Fund

0.73	GCEAX	Ab Global E	Pair Corr
0.71	AMTAX	Ab All Market	Pair Corr
0.65	AMTZX	Ab All Market	Pair Corr
0.71	AMTYX	Ab All Market	Pair Corr
0.64	AMTOX	Ab All Market	Pair Corr
0.73	ANAZX	Ab Global Bond	Pair Corr
0.77	ANAYX	Ab Global Bond	Pair Corr
0.76	ANAGX	Ab Global Bond	Pair Corr
0.76	ANAIX	Ab Global Bond	Pair Corr
0.78	ANACX	Ab Global Bond	Pair Corr
0.61	ANIAX	New York Municipal	Pair Corr
0.72	ANIYX	New York Municipal	Pair Corr
0.73	ANYCX	Ab New York	Pair Corr
0.65	STEYX	International Strategic	Pair Corr
0.65	STEZX	International Strategic	Pair Corr
0.65	STESX	International Strategic	Pair Corr
0.75	STHAX	Ab Sustainable Thematic	Pair Corr
0.76	STHYX	Ab Sustainable Thematic	Pair Corr
0.61	SCRSX	Small Cap Core	Pair Corr
0.61	SCRYX	Small Cap Core	Pair Corr
0.61	SCRZX	Small Cap Core	Pair Corr
0.8	APGZX	Ab Large Cap	Pair Corr
0.8	APGYX	Ab Large Cap	Pair Corr
0.91	APGAX	Ab Large Cap	Pair Corr
0.8	APGCX	Ab Large Cap	Pair Corr
0.79	APWIX	Ab Servative Wealth	Pair Corr
0.77	CHCIX	Ab Discovery Growth	Pair Corr
0.77	CHCYX	Ab Discovery Growth	Pair Corr

Related Correlations Analysis

	QUASX	QUAYX	ABSIX	CSVZX	ABSZX	BBHLX	TSNAX	PTSGX	CISGX	SIDVX
QUASX		0.78	-0.24	0.67	-0.24	0.68	0.75	0.6	0.6	0.59	QUASX
QUAYX	0.78		0.01	0.64	0.01	0.74	0.62	0.77	0.77	0.39	QUAYX
ABSIX	-0.24	0.01		-0.46	1.0	-0.34	-0.06	0.16	0.16	-0.59	ABSIX
CSVZX	0.67	0.64	-0.46		-0.46	0.77	0.23	0.21	0.22	0.86	CSVZX
ABSZX	-0.24	0.01	1.0	-0.46		-0.34	-0.06	0.16	0.16	-0.59	ABSZX
BBHLX	0.68	0.74	-0.34	0.77	-0.34		0.54	0.58	0.59	0.64	BBHLX
TSNAX	0.75	0.62	-0.06	0.23	-0.06	0.54		0.84	0.84	0.19	TSNAX
PTSGX	0.6	0.77	0.16	0.21	0.16	0.58	0.84		1.0	0.05	PTSGX
CISGX	0.6	0.77	0.16	0.22	0.16	0.59	0.84	1.0		0.06	CISGX
SIDVX	0.59	0.39	-0.59	0.86	-0.59	0.64	0.19	0.05	0.06		SIDVX
	QUASX	QUAYX	ABSIX	CSVZX	ABSZX	BBHLX	TSNAX	PTSGX	CISGX	SIDVX

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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

ABSZX	+ 1.0	ABSIX
CISGX	+ 1.0	PTSGX
SIDVX	+ 0.86	CSVZX
PTSGX	+ 0.84	TSNAX
CISGX	+ 0.84	TSNAX
QUAYX	+ 0.78	QUASX

High negative correlations

SIDVX	- 0.59	ABSZX
SIDVX	- 0.59	ABSIX
ABSZX	- 0.46	CSVZX
CSVZX	- 0.46	ABSIX
BBHLX	- 0.34	ABSZX
BBHLX	- 0.34	ABSIX

Risk-Adjusted Indicators

There is a big difference between CHCLX 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
QUASX	1.02	0.01	(0.02)	0.12	1.52	(0.94)	1.93	(2.26)	7.40
QUAYX	1.06	(0.09)	0.00	(0.01)	0.00	0.00	1.93	(2.26)	7.41
ABSIX	0.68	(0.11)	0.00	(0.05)	0.00	0.00	1.34	(1.21)	6.04
CSVZX	0.54	0.05	0.06	0.10	0.58	(0.58)	1.22	(0.94)	4.07
ABSZX	0.68	(0.11)	0.00	(0.05)	0.00	0.00	1.35	(1.21)	6.00
BBHLX	0.67	(0.04)	(0.04)	0.00	0.95	(0.63)	1.16	(1.27)	4.62
TSNAX	0.87	(0.04)	0.00	5.12	0.00	0.00	1.76	(2.73)	6.06
PTSGX	0.87	(0.12)	0.00	(0.06)	0.00	0.00	1.71	(2.68)	6.06
CISGX	0.88	(0.12)	0.00	(0.05)	0.00	0.00	1.78	(2.68)	6.10
SIDVX	0.48	0.09	0.06	(3.66)	0.48	(0.56)	1.07	(0.82)	3.42

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