Ab Global Correlations

Mutual Funds . USA . 
Fund . Ab Global E
GCEYX Fund  USD 16.34  0.34  2.12%   
The current 90-days correlation between Ab Global E and Principal Lifetime Hybrid is 0.97 (i.e., Almost no diversification). 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

Almost no diversification

The correlation between Ab Global E and DJI is 0.94 (i.e., Almost no 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 manufacturing.

Moving together with GCEYX Mutual Fund

  1.0GCEAX Ab Global EPairCorr
  1.0GCECX Ab Global EPairCorr
  0.94AMTAX Ab All MarketPairCorr
  0.94AMTZX Ab All MarketPairCorr
  0.94AMTYX Ab All MarketPairCorr
  0.94AMTOX Ab All MarketPairCorr
  0.65ANIAX New York MunicipalPairCorr
  0.65ANIYX New York MunicipalPairCorr
  0.63ANYCX Ab New YorkPairCorr
  0.79STEZX International StrategicPairCorr
  0.7SCAVX Ab Small CapPairCorr
  0.67SCRSX Small Cap CorePairCorr
  0.67SCRYX Small Cap CorePairCorr
  0.64SCRZX Small Cap CorePairCorr
  0.71SCYVX Ab Small CapPairCorr
  0.68APGZX Ab Large CapPairCorr
  0.68APGYX Ab Large CapPairCorr
  0.68APGAX Ab Large CapPairCorr
  0.68APGCX Ab Large CapPairCorr
  0.71SUTAX Ab Sustainable ThematicPairCorr
  0.7SUTCX Ab Sustainable ThematicPairCorr
  0.71SUTZX Ab Sustainable ThematicPairCorr
  0.75APWIX Ab Servative WealthPairCorr

Related Correlations Analysis

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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   
SGICX
+ 0.9
PHTTX
GMLVX
+ 0.9
TEDIX
MSTGX
+ 0.89
TEDIX
GMLVX
+ 0.86
PHTTX
MSTGX
+ 0.75
GMLVX
TEDIX
+ 0.74
PHTTX
  
High negative correlations   
ANAGX
- 0.21
SGICX

Risk-Adjusted Indicators

There is a big difference between GCEYX 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.

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