Ab Global Correlations

GCECX Fund

USD 17.44 0.01 0.06%

The correlation of Ab Global 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 Global Correlation With Market

Good diversification

The correlation between Ab Global E and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab Global E and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Ab Global E. 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 main economic indicators.

Moving together with GCECX Mutual Fund

1.0	GCEYX	Ab Global E	Pair Corr
0.94	AMTAX	Ab All Market	Pair Corr
0.9	AMTOX	Ab All Market	Pair Corr
0.75	STEZX	International Strategic	Pair Corr
0.68	SCAVX	Ab Small Cap	Pair Corr
0.62	SCCVX	Ab Small Cap	Pair Corr
0.79	SCRSX	Small Cap Core	Pair Corr
0.79	SCRYX	Small Cap Core	Pair Corr
0.69	SCYVX	Ab Small Cap	Pair Corr
0.75	APGZX	Ab Large Cap	Pair Corr
0.75	APGYX	Ab Large Cap	Pair Corr
0.75	APGAX	Ab Large Cap	Pair Corr
0.83	SUTZX	Ab Sustainable Thematic	Pair Corr
0.68	APWIX	Ab Servative Wealth	Pair Corr
0.8	CHCLX	Ab Discovery Growth	Pair Corr
0.86	CHCIX	Ab Discovery Growth	Pair Corr
0.8	CHCYX	Ab Discovery Growth	Pair Corr
0.81	ASCLX	Ab Select Longshort	Pair Corr
0.81	ASILX	Ab Select Longshort	Pair Corr
0.81	ASLAX	Ab Select Longshort	Pair Corr
0.82	ABAEX	Ab Emerging Markets Potential Growth	Pair Corr
0.74	ABCSX	Ab Discovery Value	Pair Corr
0.82	ABCEX	Ab Emerging Markets Potential Growth	Pair Corr
0.7	IRCYX	International Small Cap Potential Growth	Pair Corr

Related Correlations Analysis

	HEWXX	SUTXX	JHMXX	POIXX	JRSXX	HUCXX	PFCXX
HEWXX		0.66	0.0	0.5	0.96	0.0	0.96	HEWXX
SUTXX	0.66		0.0	0.76	0.69	0.0	0.69	SUTXX
JHMXX	0.0	0.0		0.0	0.0	0.0	0.0	JHMXX
POIXX	0.5	0.76	0.0		0.53	0.0	0.53	POIXX
JRSXX	0.96	0.69	0.0	0.53		0.0	1.0	JRSXX
HUCXX	0.0	0.0	0.0	0.0	0.0		0.0	HUCXX
PFCXX	0.96	0.69	0.0	0.53	1.0	0.0		PFCXX
	HEWXX	SUTXX	JHMXX	POIXX	JRSXX	HUCXX	PFCXX

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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

PFCXX	+ 1.0	JRSXX
JRSXX	+ 0.96	HEWXX
PFCXX	+ 0.96	HEWXX
POIXX	+ 0.76	SUTXX
JRSXX	+ 0.69	SUTXX
PFCXX	+ 0.69	SUTXX

High negative correlations

PFCXX	- 0.0	HUCXX
HUCXX	- 0.0	JRSXX
HUCXX	- 0.0	POIXX
PFCXX	- 0.0	JHMXX
HUCXX	- 0.0	JHMXX
JRSXX	- 0.0	JHMXX

Risk-Adjusted Indicators

There is a big difference between GCECX Mutual Fund performing well and Ab Global 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 Global'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	Treynor Ratio	Maximum Drawdown
HEWXX	0.03	0.00	0.53	1.01
SUTXX	0.03	0.01	(0.98)	1.01
JHMXX	0.00	0.00	0.00	0.00
POIXX	0.03	0.01	(1.56)	1.01
JRSXX	0.03	0.01	(0.12)	1.01
HUCXX	0.00	0.00	0.00	0.00
PFCXX	0.03	0.01	(0.12)	1.01

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