Chartwell Short Correlations

CWFIX Fund

USD 9.65 0.01 0.10%

The current 90-days correlation between Chartwell Short Duration and Aqr Long Short Equity is 0.14 (i.e., Average diversification). The correlation of Chartwell Short 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.

Chartwell Short Correlation With Market

Almost no diversification

The correlation between Chartwell Short Duration and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chartwell Short Duration 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 Chartwell Short Duration. 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 gross domestic product.

Moving together with Chartwell Mutual Fund

0.99	CWFCX	Carillon Chartwell Short	Pair Corr
0.99	CWFAX	Chartwell Short Duration	Pair Corr
0.99	CWFRX	Carillon Chartwell Short	Pair Corr
0.87	HIGCX	Eagle Growth Income	Pair Corr
0.91	HIGJX	Eagle Growth Income	Pair Corr
0.91	HIGUX	Eagle Growth Income	Pair Corr
0.94	CWSIX	Chartwell Small Cap	Pair Corr
0.9	CWSGX	Chartwell Small Cap	Pair Corr
0.94	CWSHX	Carillon Chartwell Small	Pair Corr
0.94	CWSCX	Carillon Chartwell Small	Pair Corr
0.92	CWSAX	Carillon Chartwell Small	Pair Corr
0.91	CWSBX	Carillon Chartwell Small	Pair Corr
0.94	CWSWX	Carillon Chartwell Small	Pair Corr
0.91	CWSRX	Columbia Large Cap	Pair Corr
0.67	SCCIX	Scout E Bond	Pair Corr
0.9	SUBTX	Carillon Reams Uncon	Pair Corr
0.89	SUBDX	Carillon Reams Uncon	Pair Corr
0.9	SUBFX	Scout Unconstrained Bond	Pair Corr
0.88	SUBEX	Carillon Reams Uncon	Pair Corr
0.68	SCPDX	Carillon Reams Core	Pair Corr
0.71	SCPWX	Carillon Reams Core	Pair Corr
0.7	SCPZX	Scout E Plus	Pair Corr
0.94	UMBMX	Scout Mid Cap	Pair Corr
0.9	UMBHX	Scout Small Cap	Pair Corr
0.92	BERIX	Berwyn Income	Pair Corr
0.92	BERGX	Carillon Chartwell Real	Pair Corr
0.91	BERHX	Carillon Chartwell Real	Pair Corr
0.95	BERDX	Carillon Chartwell Mid	Pair Corr
0.95	BERBX	Carillon Chartwell Mid	Pair Corr
0.95	BERAX	Carillon Chartwell Mid	Pair Corr
0.82	HRCVX	Eagle Growth Income	Pair Corr
0.89	HRSCX	Eagle Small Cap	Pair Corr
0.87	HAGIX	Eagle Mid Cap	Pair Corr

Moving against Chartwell Mutual Fund

0.8	CSSJX	Carillon Scout Small	Pair Corr
0.8	CSSAX	Carillon Scout Small	Pair Corr

Related Correlations Analysis

	APDOX	EMSLX	RECIX	BOGSX	PYEIX	DBELX	QMNIX	QLENX
APDOX		0.91	0.96	0.74	0.98	0.98	-0.43	0.55	APDOX
EMSLX	0.91		0.87	0.81	0.92	0.87	-0.24	0.7	EMSLX
RECIX	0.96	0.87		0.79	0.93	0.94	-0.35	0.6	RECIX
BOGSX	0.74	0.81	0.79		0.73	0.71	-0.31	0.51	BOGSX
PYEIX	0.98	0.92	0.93	0.73		0.96	-0.35	0.61	PYEIX
DBELX	0.98	0.87	0.94	0.71	0.96		-0.47	0.49	DBELX
QMNIX	-0.43	-0.24	-0.35	-0.31	-0.35	-0.47		0.48	QMNIX
QLENX	0.55	0.7	0.6	0.51	0.61	0.49	0.48		QLENX
	APDOX	EMSLX	RECIX	BOGSX	PYEIX	DBELX	QMNIX	QLENX

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

PYEIX	+ 0.98	APDOX
DBELX	+ 0.98	APDOX
RECIX	+ 0.96	APDOX
DBELX	+ 0.96	PYEIX
DBELX	+ 0.94	RECIX
PYEIX	+ 0.93	RECIX

High negative correlations

QMNIX	- 0.47	DBELX
QMNIX	- 0.43	APDOX
QMNIX	- 0.35	PYEIX
QMNIX	- 0.35	RECIX
QMNIX	- 0.31	BOGSX
QMNIX	- 0.24	EMSLX

Risk-Adjusted Indicators

There is a big difference between Chartwell Mutual Fund performing well and Chartwell Short 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 Chartwell Short'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
APDOX	0.10	0.07	0.20	2.23	0.00	(0.16)	0.28	(0.18)	0.56
EMSLX	1.00	0.45	0.40	0.93	0.38	(1.15)	2.05	(1.66)	19.48
RECIX	0.83	0.38	0.39	5.93	0.31	(1.01)	2.02	(1.33)	11.71
BOGSX	1.10	(0.03)	(0.01)	0.02	1.60	(1.02)	2.31	(2.67)	5.97
PYEIX	0.13	0.05	0.05	0.60	0.00	(0.18)	0.27	(0.27)	1.08
DBELX	0.22	0.08	0.09	(2.27)	0.00	(0.28)	0.61	(0.32)	2.02
QMNIX	0.32	(0.04)	0.00	4.16	0.00	0.00	0.58	(0.82)	2.14
QLENX	0.37	0.04	(0.01)	(2.34)	0.39	(0.40)	0.85	(0.69)	2.30

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