Alliancebernstein Correlations

AWF Fund

USD 10.67 0.03 0.28%

The current 90-days correlation between Alliancebernstein and Doubleline Yield Opportunities is 0.17 (i.e., Average diversification). The correlation of Alliancebernstein 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.

Alliancebernstein Correlation With Market

Very weak diversification

The correlation between Alliancebernstein Global High and NYA is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alliancebernstein Global High and NYA 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 Alliancebernstein Global High. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with Alliancebernstein Fund

0.84	MFD	Macquariefirst Tr Global	Pair Corr
0.71	IIF	Morgan Stanley India	Pair Corr
0.79	NTG	Tortoise Mlp Closed	Pair Corr
0.61	NOM	Nuveen Missouri Quality	Pair Corr
0.88	VFIAX	Vanguard 500 Index	Pair Corr
0.72	SAEXX	State Street Institu	Pair Corr
0.88	VFINX	Vanguard 500 Index	Pair Corr
0.73	WMT	Walmart	Pair Corr
0.85	DD	Dupont De Nemours Financial Report 7th of August 2024	Pair Corr
0.82	BAC	Bank of America Financial Report 16th of July 2024	Pair Corr
0.79	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.89	T	ATT Inc Earnings Call This Week	Pair Corr
0.86	PFE	Pfizer Inc Sell-off Trend	Pair Corr
0.79	KO	Coca Cola Financial Report 24th of July 2024	Pair Corr

Moving against Alliancebernstein Fund

0.47	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.43	MCD	McDonalds Financial Report 25th of July 2024	Pair Corr
0.42	IBM	International Business Financial Report 17th of July 2024	Pair Corr
0.37	INTC	Intel Financial Report 25th of July 2024	Pair Corr

Related Correlations Analysis

	DLY	HFRO	DBL	EMD	DSL	PDO	NBXG	EAD	DSU	ETW
DLY		0.16	0.88	0.83	0.83	0.75	0.57	0.85	0.78	0.84	DLY
HFRO	0.16		0.13	0.23	0.04	0.0	-0.28	-0.09	-0.18	-0.08	HFRO
DBL	0.88	0.13		0.78	0.85	0.65	0.4	0.86	0.81	0.73	DBL
EMD	0.83	0.23	0.78		0.73	0.79	0.67	0.82	0.69	0.88	EMD
DSL	0.83	0.04	0.85	0.73		0.65	0.45	0.85	0.85	0.73	DSL
PDO	0.75	0.0	0.65	0.79	0.65		0.81	0.76	0.6	0.85	PDO
NBXG	0.57	-0.28	0.4	0.67	0.45	0.81		0.65	0.52	0.88	NBXG
EAD	0.85	-0.09	0.86	0.82	0.85	0.76	0.65		0.87	0.87	EAD
DSU	0.78	-0.18	0.81	0.69	0.85	0.6	0.52	0.87		0.77	DSU
ETW	0.84	-0.08	0.73	0.88	0.73	0.85	0.88	0.87	0.77		ETW
	DLY	HFRO	DBL	EMD	DSL	PDO	NBXG	EAD	DSU	ETW

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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

DBL	+ 0.88	DLY
ETW	+ 0.88	EMD
ETW	+ 0.88	NBXG
DSU	+ 0.87	EAD
ETW	+ 0.87	EAD
EAD	+ 0.86	DBL

High negative correlations

NBXG	- 0.28	HFRO
DSU	- 0.18	HFRO
EAD	- 0.09	HFRO
ETW	- 0.08	HFRO
PDO	- 0.0	HFRO

Risk-Adjusted Indicators

There is a big difference between Alliancebernstein Fund performing well and Alliancebernstein 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 Alliancebernstein'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
DLY	0.58	0.02	0.03	0.02	0.69	(0.64)	1.44	(1.24)	3.44
HFRO	1.08	(0.03)	0.00	(0.05)	0.00	0.00	2.83	(1.97)	7.85
DBL	0.43	0.02	0.05	0.05	0.46	(0.52)	0.87	(0.83)	3.15
EMD	0.59	0.08	0.11	0.36	0.76	(0.60)	1.01	(1.23)	3.37
DSL	0.64	0.03	0.03	0.03	0.86	(0.65)	1.52	(1.35)	5.13
PDO	0.49	0.05	0.09	0.27	0.58	(0.58)	1.10	(1.11)	3.62
NBXG	0.72	0.12	0.16	(0.46)	0.67	(0.83)	1.58	(1.31)	3.87
EAD	0.46	0.04	0.08	0.16	0.51	(0.51)	1.08	(0.95)	2.80
DSU	0.52	0.02	0.04	0.13	0.74	(0.58)	1.05	(1.27)	4.43
ETW	0.53	0.07	0.10	1.01	0.61	(0.62)	1.02	(1.22)	3.65

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