Chartwell Small Correlations

CWSIX Fund

USD 12.32 0.13 1.04%

The current 90-days correlation between Chartwell Small Cap and Hodges Small Intrinsic is 0.08 (i.e., Significant diversification). The correlation of Chartwell Small 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 Small Correlation With Market

Weak diversification

The correlation between Chartwell Small Cap and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chartwell Small Cap 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 Small Cap. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Chartwell Mutual Fund

0.9	HIGCX	Eagle Growth Income	Pair Corr
0.75	SUBFX	Scout Unconstrained Bond	Pair Corr
0.89	UMBHX	Scout Small Cap	Pair Corr
0.85	HRSCX	Eagle Small Cap	Pair Corr

Related Correlations Analysis

	HDSVX	VICEX	EAAAX	SWYAX	THPMX	IPSAX	DEBTX	ICCNX	ICCIX	TQMVX
HDSVX		0.77	0.69	0.26	0.78	-0.04	0.52	0.6	0.6	0.69	HDSVX
VICEX	0.77		0.7	0.05	0.8	-0.03	0.46	0.72	0.72	0.86	VICEX
EAAAX	0.69	0.7		0.4	0.84	-0.07	0.83	0.68	0.69	0.81	EAAAX
SWYAX	0.26	0.05	0.4		0.2	0.1	0.33	0.18	0.18	0.14	SWYAX
THPMX	0.78	0.8	0.84	0.2		0.11	0.81	0.71	0.72	0.83	THPMX
IPSAX	-0.04	-0.03	-0.07	0.1	0.11		-0.03	0.29	0.28	0.01	IPSAX
DEBTX	0.52	0.46	0.83	0.33	0.81	-0.03		0.5	0.51	0.63	DEBTX
ICCNX	0.6	0.72	0.68	0.18	0.71	0.29	0.5		1.0	0.84	ICCNX
ICCIX	0.6	0.72	0.69	0.18	0.72	0.28	0.51	1.0		0.85	ICCIX
TQMVX	0.69	0.86	0.81	0.14	0.83	0.01	0.63	0.84	0.85		TQMVX
	HDSVX	VICEX	EAAAX	SWYAX	THPMX	IPSAX	DEBTX	ICCNX	ICCIX	TQMVX

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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

ICCIX	+ 1.0	ICCNX
TQMVX	+ 0.86	VICEX
TQMVX	+ 0.85	ICCIX
THPMX	+ 0.84	EAAAX
TQMVX	+ 0.84	ICCNX
DEBTX	+ 0.83	EAAAX

High negative correlations

IPSAX	- 0.07	EAAAX
IPSAX	- 0.04	HDSVX
DEBTX	- 0.03	IPSAX
IPSAX	- 0.03	VICEX

Risk-Adjusted Indicators

There is a big difference between Chartwell Mutual Fund performing well and Chartwell Small 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 Small'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
HDSVX	0.98	(0.02)	0.00	(1.19)	0.00	0.00	2.37	(2.11)	5.35
VICEX	0.79	0.16	0.16	0.75	0.53	(1.08)	1.10	(1.25)	14.15
EAAAX	0.49	0.00	(0.05)	0.01	0.85	(0.48)	1.06	(0.92)	5.13
SWYAX	0.29	(0.06)	0.00	(0.54)	0.00	0.00	0.51	(0.51)	4.52
THPMX	0.69	0.04	0.04	0.09	0.87	(0.72)	1.65	(1.40)	3.77
IPSAX	0.41	(0.03)	(0.08)	(0.01)	0.55	(0.46)	0.70	(0.90)	4.16
DEBTX	0.14	(0.01)	(0.18)	(0.04)	0.19	(0.19)	0.29	(0.29)	0.68
ICCNX	0.58	0.04	0.00	0.52	0.77	(0.59)	0.97	(1.29)	3.02
ICCIX	0.58	0.04	0.00	0.51	0.76	(0.61)	1.01	(1.30)	3.03
TQMVX	0.57	0.10	0.07	2.52	0.55	(0.67)	1.31	(1.04)	4.47

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