AB Active Correlations

EMOP Etf

44.67 0.27 0.61%

The current 90-days correlation between AB Active ETFs and Bank of Montreal is 0.46 (i.e., Very weak diversification). The correlation of AB Active 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 Active Correlation With Market

Poor diversification

The correlation between AB Active ETFs and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AB Active ETFs and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with EMOP Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in AB Active ETFs. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with EMOP Etf

0.96	VWO	Vanguard FTSE Emerging	Pair Corr
0.99	IEMG	iShares Core MSCI	Pair Corr
0.91	EMC	Global X Funds	Pair Corr
0.99	EEM	iShares MSCI Emerging	Pair Corr
0.97	SPEM	SPDR Portfolio Emerging	Pair Corr
0.97	FNDE	Schwab Fundamental	Pair Corr
0.99	ESGE	iShares ESG Aware	Pair Corr
0.92	SFGRX	Seafarer Overseas	Pair Corr
0.97	DGS	WisdomTree Emerging	Pair Corr
0.98	XSOE	WisdomTree Emerging	Pair Corr
0.83	LENS	Sarmaya Thematic ETF	Pair Corr
0.73	ASA	ASA Gold Earnings Call This Week	Pair Corr
0.89	MAPP	Harbor ETF Trust	Pair Corr
0.81	DRGN	Themes China Generative	Pair Corr
0.82	SNPD	DBX ETF Trust	Pair Corr
0.9	VEA	Vanguard FTSE Developed	Pair Corr
0.81	INTC	Intel Earnings Call This Week	Pair Corr
0.75	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.84	AA	Alcoa Corp	Pair Corr
0.86	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr

Moving against EMOP Etf

0.58	SWIN	Alps Symbol Change	Pair Corr
0.67	HPQ	HP Inc	Pair Corr
0.65	T	ATT Inc Earnings Call This Week	Pair Corr
0.47	MSFT	Microsoft Earnings Call This Week	Pair Corr

Related Correlations Analysis

	LITL	WCEO	JPAN	SNPD	ISHP	GBLD	GMMA	TOT	AVIE	CARU
LITL		0.94	0.76	0.86	0.27	0.52	0.84	0.85	0.81	0.86	LITL
WCEO	0.94		0.84	0.92	0.49	0.66	0.88	0.89	0.79	0.86	WCEO
JPAN	0.76	0.84		0.83	0.5	0.72	0.87	0.81	0.71	0.58	JPAN
SNPD	0.86	0.92	0.83		0.3	0.69	0.77	0.72	0.92	0.68	SNPD
ISHP	0.27	0.49	0.5	0.3		0.67	0.49	0.6	-0.04	0.49	ISHP
GBLD	0.52	0.66	0.72	0.69	0.67		0.63	0.65	0.51	0.48	GBLD
GMMA	0.84	0.88	0.87	0.77	0.49	0.63		0.95	0.71	0.72	GMMA
TOT	0.85	0.89	0.81	0.72	0.6	0.65	0.95		0.6	0.81	TOT
AVIE	0.81	0.79	0.71	0.92	-0.04	0.51	0.71	0.6		0.53	AVIE
CARU	0.86	0.86	0.58	0.68	0.49	0.48	0.72	0.81	0.53		CARU
	LITL	WCEO	JPAN	SNPD	ISHP	GBLD	GMMA	TOT	AVIE	CARU

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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

TOT	+ 0.95	GMMA
WCEO	+ 0.94	LITL
SNPD	+ 0.92	WCEO
AVIE	+ 0.92	SNPD
TOT	+ 0.89	WCEO
GMMA	+ 0.88	WCEO

High negative correlations

AVIE

- 0.04

ISHP

AB Active Constituents Risk-Adjusted Indicators

There is a big difference between EMOP Etf performing well and AB Active ETF 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 Active'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
LITL	0.83	0.04	0.05	0.10	0.82	(1.04)	1.83	(1.77)	5.00
WCEO	0.71	0.03	0.03	0.10	0.70	(0.79)	1.61	(1.37)	4.43
JPAN	0.65	0.02	0.01	0.09	0.86	(0.66)	1.37	(1.42)	4.86
SNPD	0.52	0.04	0.02	0.13	0.54	(0.54)	1.25	(1.03)	3.31
ISHP	0.73	(0.11)	0.00	(0.04)	0.00	0.00	1.21	(1.79)	3.87
GBLD	0.44	(0.02)	(0.09)	0.02	0.61	(0.44)	1.06	(0.91)	3.00
GMMA	0.24	0.00	(0.12)	0.06	0.32	(0.25)	0.52	(0.53)	1.98
TOT	0.58	(0.02)	(0.03)	0.04	0.76	(0.57)	1.17	(1.23)	3.68
AVIE	0.47	0.11	0.13	0.33	0.30	(0.52)	1.21	(0.75)	2.82
CARU	3.64	(0.05)	0.04	0.06	4.30	(4.01)	7.77	(7.37)	20.84

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