Cambiar Opportunity Correlations

CAMWX Fund

USD 30.57 0.18 0.59%

The current 90-days correlation between Cambiar Opportunity and Cambiar International Equity is 0.49 (i.e., Very weak diversification). The correlation of Cambiar Opportunity 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 Opportunity Correlation With Market

Very poor diversification

The correlation between Cambiar Opportunity Fund and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cambiar Opportunity 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 Opportunity 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 housing.

Moving together with Cambiar Mutual Fund

0.89	CAMZX	Cambiar Small Cap	Pair Corr
0.86	CAMUX	Cambiar Smid	Pair Corr
0.89	CAMSX	Cambiar Small Cap	Pair Corr
1.0	CAMOX	Cambiar Opportunity	Pair Corr
0.86	CAMMX	Cambiar Smid	Pair Corr
0.94	VVIAX	Vanguard Value Index	Pair Corr
0.98	DOXGX	Dodge Cox Stock	Pair Corr
0.89	AFMFX	American Mutual	Pair Corr
0.89	FFMMX	American Funds American	Pair Corr
0.89	FFFMX	American Funds American	Pair Corr
0.89	AMRMX	American Mutual	Pair Corr
0.89	AMFFX	American Mutual	Pair Corr
0.88	AMFCX	American Mutual	Pair Corr
0.98	DODGX	Dodge Stock Fund	Pair Corr
0.94	VIVAX	Vanguard Value Index	Pair Corr
0.78	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.78	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.78	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.78	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.83	VFORX	Vanguard Target Reti	Pair Corr
0.93	VEXRX	Vanguard Explorer	Pair Corr
0.83	FFRHX	Fidelity Advisor Floating	Pair Corr
0.96	VFINX	Vanguard 500 Index	Pair Corr
0.93	CSDGX	Copeland Smid Cap	Pair Corr
0.68	THOPX	Thompson Bond	Pair Corr
0.96	VIIIX	Vanguard Institutional	Pair Corr
0.95	QUAZX	Ab Small Cap	Pair Corr
0.86	MVTRX	Transamerica Mid Cap	Pair Corr
0.93	FAGIX	Fidelity Capital Income	Pair Corr
0.94	FSPGX	Fidelity Large Cap	Pair Corr
0.95	VSMAX	Vanguard Small Cap	Pair Corr

Moving against Cambiar Mutual Fund

0.5	BTMPX	Ishares Msci Eafe	Pair Corr
0.49	CAMYX	Cambiar International	Pair Corr
0.49	CAMIX	Cambiar International	Pair Corr
0.5	MDIIX	Blackrock Intern Index	Pair Corr
0.49	BTMKX	Blackrock International	Pair Corr

Related Correlations Analysis

	CAMYX	CAMZX	CAMWX	CAMUX	CAMSX	CAMOX	CAMMX	CAMIX
CAMYX		-0.7	-0.49	-0.2	-0.7	-0.49	-0.19	1.0	CAMYX
CAMZX	-0.7		0.89	0.79	1.0	0.89	0.79	-0.7	CAMZX
CAMWX	-0.49	0.89		0.86	0.89	1.0	0.86	-0.49	CAMWX
CAMUX	-0.2	0.79	0.86		0.79	0.86	1.0	-0.2	CAMUX
CAMSX	-0.7	1.0	0.89	0.79		0.89	0.79	-0.7	CAMSX
CAMOX	-0.49	0.89	1.0	0.86	0.89		0.86	-0.49	CAMOX
CAMMX	-0.19	0.79	0.86	1.0	0.79	0.86		-0.19	CAMMX
CAMIX	1.0	-0.7	-0.49	-0.2	-0.7	-0.49	-0.19		CAMIX
	CAMYX	CAMZX	CAMWX	CAMUX	CAMSX	CAMOX	CAMMX	CAMIX

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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

CAMIX	+ 1.0	CAMYX
CAMSX	+ 1.0	CAMZX
CAMOX	+ 1.0	CAMWX
CAMMX	+ 1.0	CAMUX
CAMWX	+ 0.89	CAMZX
CAMOX	+ 0.89	CAMZX

High negative correlations

CAMIX	- 0.7	CAMSX
CAMIX	- 0.7	CAMZX
CAMSX	- 0.7	CAMYX
CAMZX	- 0.7	CAMYX
CAMIX	- 0.49	CAMOX
CAMIX	- 0.49	CAMWX

Risk-Adjusted Indicators

There is a big difference between Cambiar Mutual Fund performing well and Cambiar Opportunity 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 Opportunity'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
CAMYX	0.63	(0.14)	0.00	(0.23)	0.00	0.00	1.14	(1.57)	3.84
CAMZX	0.76	0.00	0.04	0.12	0.71	(0.85)	1.74	(1.64)	6.64
CAMWX	0.56	(0.03)	(0.07)	0.09	0.56	(0.64)	1.08	(1.02)	3.49
CAMUX	0.61	(0.04)	(0.08)	0.07	0.62	(0.68)	1.29	(1.07)	3.83
CAMSX	0.77	0.00	0.04	0.12	0.72	(0.86)	1.70	(1.59)	6.65
CAMOX	0.56	(0.03)	(0.07)	0.09	0.56	(0.64)	1.08	(1.02)	3.48
CAMMX	0.62	(0.05)	(0.08)	0.07	0.64	(0.67)	1.29	(1.08)	3.84
CAMIX	0.63	(0.14)	0.00	(0.23)	0.00	0.00	1.12	(1.61)	3.81

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