Old Westbury Correlations

OWFIX Fund

USD 10.08 0.01 0.1%

The current 90-days correlation between Old Westbury Fixed and Vanguard Total Bond is -0.01 (i.e., Good diversification). The correlation of Old Westbury 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.

Old Westbury Correlation With Market

Average diversification

The correlation between Old Westbury Fixed and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Old Westbury Fixed and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Old Westbury Fixed. 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 Old Mutual Fund

0.89	OWCAX	Old Westbury California	Pair Corr
0.98	OWCIX	Old Westbury Credit	Pair Corr
0.9	OWMBX	Old Westbury Municipal	Pair Corr
0.9	OWNYX	Old Westbury New	Pair Corr
0.67	OWSBX	Old Westbury Short	Pair Corr
0.99	VBTLX	Vanguard Total Bond	Pair Corr
0.96	VBMFX	Vanguard Total Bond	Pair Corr
0.96	VBTIX	Vanguard Total Bond	Pair Corr
0.96	VTBSX	Vanguard Total Bond	Pair Corr
0.97	VTBIX	Vanguard Total Bond	Pair Corr
0.97	VTBNX	Vanguard Total Bond	Pair Corr
0.99	BFAFX	Bond Fund	Pair Corr
0.97	ABNDX	Bond Fund	Pair Corr
0.97	BFACX	Bond Fund	Pair Corr
0.99	FFBOX	American Funds	Pair Corr
0.97	GPBFX	Gmo E Plus	Pair Corr
0.87	GPMFX	Guidepath Managed Futures	Pair Corr
0.66	PQTAX	Pimco Trends Managed	Pair Corr
0.65	PQTNX	Pimco Trends Managed	Pair Corr
0.64	PQTIX	Aa Pimco Tr	Pair Corr

Moving against Old Mutual Fund

0.68	OWACX	Old Westbury All	Pair Corr
0.62	OWLSX	Old Westbury Large	Pair Corr
0.42	OWSMX	Old Westbury Small	Pair Corr
0.8	LMORX	Miller Opportunity Trust	Pair Corr
0.75	VIGAX	Vanguard Growth Index	Pair Corr
0.65	PLVYX	Pace Large Value	Pair Corr
0.61	ARDEX	Amg River Road	Pair Corr
0.58	FBALX	Fidelity Balanced	Pair Corr
0.51	VAAGX	Virtus Nfj Large	Pair Corr
0.83	BITW	Bitwise 10 Crypto	Pair Corr
0.76	RLSIX	Riverpark Long/short	Pair Corr
0.74	CICVX	Calamos Vertible	Pair Corr
0.74	VTCAX	Vanguard Telecommunicatio	Pair Corr

Related Correlations Analysis

	VBTIX	AAVXF	SCRYY	444859BR2	AQUI	SCRYX	MSTSX	LBHIX	ID	SCAXF
VBTIX		0.0	-0.37	0.63	0.0	-0.58	-0.31	-0.16	-0.61	0.42	VBTIX
AAVXF	0.0		0.0	0.0	-1.0	0.0	0.0	0.0	0.0	0.0	AAVXF
SCRYY	-0.37	0.0		-0.44	0.0	0.44	0.47	0.5	0.45	-0.63	SCRYY
444859BR2	0.63	0.0	-0.44		0.0	-0.63	-0.62	-0.59	-0.65	0.21	444859BR2
AQUI	0.0	-1.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	AQUI
SCRYX	-0.58	0.0	0.44	-0.63	0.0		0.58	0.6	0.62	-0.35	SCRYX
MSTSX	-0.31	0.0	0.47	-0.62	0.0	0.58		0.72	0.4	0.03	MSTSX
LBHIX	-0.16	0.0	0.5	-0.59	0.0	0.6	0.72		0.32	-0.21	LBHIX
ID	-0.61	0.0	0.45	-0.65	0.0	0.62	0.4	0.32		-0.44	ID
SCAXF	0.42	0.0	-0.63	0.21	0.0	-0.35	0.03	-0.21	-0.44		SCAXF
	VBTIX	AAVXF	SCRYY	444859BR2	AQUI	SCRYX	MSTSX	LBHIX	ID	SCAXF

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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

LBHIX	+ 0.72	MSTSX
444859BR2	+ 0.63	VBTIX
ID	+ 0.62	SCRYX
LBHIX	+ 0.6	SCRYX
MSTSX	+ 0.58	SCRYX
LBHIX	+ 0.5	SCRYY

High negative correlations

AQUI	- 1.0	AAVXF
ID	- 0.65	444859BR2
SCRYX	- 0.63	444859BR2
SCAXF	- 0.63	SCRYY
MSTSX	- 0.62	444859BR2
ID	- 0.61	VBTIX

Risk-Adjusted Indicators

There is a big difference between Old Mutual Fund performing well and Old Westbury 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 Old Westbury'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
VBTIX	0.22	(0.03)	0.00	0.55	0.00	0.00	0.42	(0.62)	1.36
AAVXF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SCRYY	2.12	0.43	0.13	(1.15)	2.05	(2.81)	5.61	(4.09)	12.99
444859BR2	1.32	0.04	0.00	0.04	0.00	0.00	5.93	(4.60)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SCRYX	0.97	0.09	0.01	0.99	0.96	(1.10)	2.39	(1.69)	7.88
MSTSX	0.49	(0.03)	(0.09)	0.05	0.52	(0.59)	1.21	(1.02)	2.80
LBHIX	0.11	0.00	(0.27)	0.00	0.00	(0.29)	0.24	(0.24)	0.96
ID	3.81	0.25	0.03	1.85	4.78	(4.93)	7.69	(7.69)	23.97
SCAXF	0.70	(0.40)	0.00	(1.01)	0.00	0.00	0.00	0.00	23.47

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