Cambiar Smid Correlations

CAMUX Fund

USD 25.89 0.12 0.46%

The current 90-days correlation between Cambiar Smid and T Rowe Price is -0.23 (i.e., Very good diversification). The correlation of Cambiar Smid 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.

Cambiar Smid Correlation With Market

Very poor diversification

The correlation between Cambiar Smid Fund and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cambiar Smid Fund 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 Cambiar Smid Fund. 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 employment.

Moving together with Cambiar Mutual Fund

0.82	CAMZX	Cambiar Small Cap	Pair Corr
0.87	CAMWX	Cambiar Opportunity	Pair Corr
0.83	CAMSX	Cambiar Small Cap	Pair Corr
0.87	CAMOX	Cambiar Opportunity	Pair Corr
1.0	CAMMX	Cambiar Smid	Pair Corr
0.84	VIMAX	Vanguard Mid Cap	Pair Corr
0.84	VIMSX	Vanguard Mid Cap	Pair Corr
0.84	VMCPX	Vanguard Mid Cap	Pair Corr
0.84	VMCIX	Vanguard Mid Cap	Pair Corr
0.84	VEXAX	Vanguard Extended Market	Pair Corr
0.84	VEMPX	Vanguard Extended Market	Pair Corr
0.79	VIEIX	Vanguard Extended Market	Pair Corr
0.84	VSEMX	Vanguard Extended Market	Pair Corr
0.84	VEXMX	Vanguard Extended Market	Pair Corr
0.79	FSMAX	Fidelity Extended Market	Pair Corr
0.64	FTCAX	Templeton Strained Bond	Pair Corr
0.65	PYAIX	Payden Absolute Return	Pair Corr
0.65	PYARX	Payden Absolute Return	Pair Corr
0.71	BCAAX	Brandywineglobal C	Pair Corr
0.82	VLISX	Vanguard Large Cap	Pair Corr
0.79	FLCNX	Fidelity Contrafund	Pair Corr
0.82	MIEYX	Mm Sp 500	Pair Corr
0.74	RYBKX	Banking Fund Class	Pair Corr
0.75	SPXUX	Wisdomtree Digital Trust	Pair Corr
0.87	TRLCX	Tiaa-cref Large-cap	Pair Corr
0.71	TAIAX	American Funds Tax	Pair Corr
0.77	JHYFX	Janus High Yield	Pair Corr
0.86	FMCMX	American Funds Amcap	Pair Corr
0.79	AMGOX	Alger Mid Cap	Pair Corr

Moving against Cambiar Mutual Fund

0.79	USPSX	Profunds Ultrashort	Pair Corr
0.91	UIPIX	Ultrashort Mid Cap	Pair Corr
0.79	USPIX	Profunds Ultrashort	Pair Corr

Related Correlations Analysis

	PATFX	ASTIX	TTRBX	BBINX	TEOJX	ASCLX	NEITX
PATFX		-0.13	0.77	0.88	0.33	-0.18	0.85	PATFX
ASTIX	-0.13		-0.56	-0.31	0.24	0.96	-0.38	ASTIX
TTRBX	0.77	-0.56		0.86	0.16	-0.56	0.8	TTRBX
BBINX	0.88	-0.31	0.86		0.28	-0.32	0.85	BBINX
TEOJX	0.33	0.24	0.16	0.28		0.27	0.03	TEOJX
ASCLX	-0.18	0.96	-0.56	-0.32	0.27		-0.44	ASCLX
NEITX	0.85	-0.38	0.8	0.85	0.03	-0.44		NEITX
	PATFX	ASTIX	TTRBX	BBINX	TEOJX	ASCLX	NEITX

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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

ASCLX	+ 0.96	ASTIX
BBINX	+ 0.88	PATFX
BBINX	+ 0.86	TTRBX
NEITX	+ 0.85	PATFX
NEITX	+ 0.85	BBINX
NEITX	+ 0.8	TTRBX

High negative correlations

ASCLX	- 0.56	TTRBX
TTRBX	- 0.56	ASTIX
NEITX	- 0.44	ASCLX
NEITX	- 0.38	ASTIX
ASCLX	- 0.32	BBINX
BBINX	- 0.31	ASTIX

Risk-Adjusted Indicators

There is a big difference between Cambiar Mutual Fund performing well and Cambiar Smid 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 Cambiar Smid'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
PATFX	0.15	0.02	(0.27)	(0.04)	0.23	(0.25)	0.44	(0.35)	1.69
ASTIX	0.28	0.05	(0.17)	1.68	0.26	(0.32)	0.57	(0.64)	1.79
TTRBX	0.13	(0.01)	(0.61)	(0.37)	0.16	(0.17)	0.30	(0.30)	0.70
BBINX	0.11	(0.01)	(0.43)	(0.13)	0.15	(0.19)	0.29	(0.29)	1.07
TEOJX	0.66	(0.02)	0.00	0.40	0.00	0.00	1.76	(1.83)	4.91
ASCLX	0.36	0.00	(0.09)	0.12	0.36	(0.40)	0.77	(0.93)	2.91
NEITX	0.16	0.01	(0.24)	0.04	0.27	(0.27)	0.43	(0.32)	1.62

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