Washington Mutual Correlations

CWMAX Fund

USD 63.79 0.18 0.28%

The current 90-days correlation between Washington Mutual and Income Fund Of is 0.61 (i.e., Poor diversification). The correlation of Washington Mutual 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.

Washington Mutual Correlation With Market

Very weak diversification

The correlation between Washington Mutual Investors and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Washington Mutual Investors 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 Washington Mutual Investors. 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 nation.

Moving together with Washington Mutual Fund

0.91	AMECX	Income Fund	Pair Corr
0.89	RNEBX	New World Fund	Pair Corr
0.93	AMFCX	American Mutual	Pair Corr
0.93	AMFFX	American Mutual	Pair Corr
0.94	RNCCX	American Funds Income	Pair Corr
0.93	RNGGX	New Economy Fund	Pair Corr
0.93	RNGFX	New Economy Fund	Pair Corr
0.93	RNGHX	New Economy Fund	Pair Corr
0.92	RNGBX	New Economy Fund	Pair Corr
0.93	RNGEX	New Economy Fund	Pair Corr
0.68	AMHIX	American High Income	Pair Corr
0.7	TEBCX	Tax Exempt Bond	Pair Corr
0.68	TECCX	Tax Exempt Fund	Pair Corr
0.66	TEAFX	Tax Exempt Bond	Pair Corr
0.93	FPTPX	American Funds Conse	Pair Corr
0.65	TECFX	Tax Exempt Fund	Pair Corr
0.93	AMPFX	Amcap Fund Class	Pair Corr
0.94	RNPGX	New Perspective	Pair Corr
0.93	AMRMX	American Mutual	Pair Corr
0.93	AMRFX	American Mutual	Pair Corr
0.71	AMUSX	Us Government Securities	Pair Corr
0.89	RNWHX	New World Fund	Pair Corr
0.89	RNWGX	New World Fund	Pair Corr
0.89	RNWBX	New World Fund	Pair Corr
0.89	RNWAX	New World Fund	Pair Corr
0.67	CDWEX	American Funds Developing	Pair Corr
0.72	CDWCX	American Funds Developing	Pair Corr
0.85	ANBEX	American Funds Strategic	Pair Corr
0.84	ANBFX	American Funds Strategic	Pair Corr
0.84	ANBAX	American Funds Strategic	Pair Corr
0.86	ANBCX	American Funds Strategic	Pair Corr
0.96	ANCFX	American Funds Funda	Pair Corr
0.93	ANEFX	New Economy Fund	Pair Corr
0.93	ANFFX	New Economy Fund	Pair Corr
0.95	NPFCX	New Perspective	Pair Corr
0.94	NPFFX	New Perspective	Pair Corr

Related Correlations Analysis

	AMECX	REJTX	RNEBX	AMFCX	RNCCX	FPPPX	REITX	AMEFX	RNGGX
AMECX		0.84	0.82	0.97	0.89	0.0	0.77	1.0	0.9	AMECX
REJTX	0.84		0.9	0.87	0.95	-0.03	0.94	0.84	0.89	REJTX
RNEBX	0.82	0.9		0.85	0.85	-0.1	0.84	0.82	0.92	RNEBX
AMFCX	0.97	0.87	0.85		0.88	-0.16	0.76	0.97	0.95	AMFCX
RNCCX	0.89	0.95	0.85	0.88		0.14	0.95	0.89	0.87	RNCCX
FPPPX	0.0	-0.03	-0.1	-0.16	0.14		0.19	0.01	-0.09	FPPPX
REITX	0.77	0.94	0.84	0.76	0.95	0.19		0.78	0.83	REITX
AMEFX	1.0	0.84	0.82	0.97	0.89	0.01	0.78		0.9	AMEFX
RNGGX	0.9	0.89	0.92	0.95	0.87	-0.09	0.83	0.9		RNGGX
	AMECX	REJTX	RNEBX	AMFCX	RNCCX	FPPPX	REITX	AMEFX	RNGGX

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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

AMEFX	+ 1.0	AMECX
AMFCX	+ 0.97	AMECX
AMEFX	+ 0.97	AMFCX
RNCCX	+ 0.95	REJTX
RNGGX	+ 0.95	AMFCX
REITX	+ 0.95	RNCCX

High negative correlations

FPPPX	- 0.16	AMFCX
FPPPX	- 0.1	RNEBX
RNGGX	- 0.09	FPPPX
FPPPX	- 0.03	REJTX
FPPPX	- 0.0	AMECX

Risk-Adjusted Indicators

There is a big difference between Washington Mutual Fund performing well and Washington Mutual 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 Washington Mutual'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
AMECX	0.41	(0.04)	0.00	(0.05)	0.00	0.00	0.79	(0.93)	3.18
REJTX	0.30	(0.04)	0.00	(0.08)	0.00	0.00	0.47	(0.63)	2.61
RNEBX	0.59	(0.11)	0.00	(0.29)	0.00	0.00	0.80	(1.32)	3.85
AMFCX	0.54	(0.07)	0.00	(0.07)	0.00	0.00	1.00	(1.02)	6.56
RNCCX	0.30	(0.02)	(0.12)	(0.01)	0.48	(0.33)	0.52	(0.67)	2.16
FPPPX	0.11	0.00	(0.35)	0.24	0.02	(0.18)	0.32	(0.21)	0.75
REITX	0.57	(0.02)	(0.06)	0.03	0.95	(0.50)	0.86	(1.23)	4.06
AMEFX	0.41	(0.04)	0.00	(0.05)	0.00	0.00	0.79	(0.90)	3.15
RNGGX	0.96	(0.11)	0.00	(0.07)	0.00	0.00	1.44	(1.97)	10.95

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