Old Westbury Correlations

OWLSX Fund

USD 21.26 0.07 0.33%

The current 90-days correlation between Old Westbury Large and Old Westbury All is 0.97 (i.e., Almost no 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

Very poor diversification

The correlation between Old Westbury Large and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Old Westbury Large 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 Large. 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 state.

Moving together with Old Mutual Fund

0.97	OWACX	Old Westbury All	Pair Corr
0.92	OWSMX	Old Westbury Small	Pair Corr
0.93	FNFPX	American Funds New	Pair Corr
0.93	FFPNX	American Funds New	Pair Corr
0.92	NPFCX	New Perspective	Pair Corr
0.93	ANWPX	New Perspective	Pair Corr
0.92	NPFFX	New Perspective	Pair Corr
0.93	CNPAX	New Perspective	Pair Corr
0.92	CNPEX	New Perspective	Pair Corr
0.93	CNPFX	New Perspective	Pair Corr
0.92	CNPCX	New Perspective	Pair Corr
0.92	RNPAX	New Perspective	Pair Corr
0.9	SMPIX	Semiconductor Ultrasector	Pair Corr
0.9	SMPSX	Semiconductor Ultrasector	Pair Corr
0.8	LSHUX	Horizon Spin Off Downward Rally	Pair Corr
0.8	LSHEX	Kinetics Spin Off Downward Rally	Pair Corr
0.92	RSNYX	Victory Global Natural	Pair Corr
0.92	RSNRX	Victory Global Natural	Pair Corr
0.92	RGNCX	Victory Global Natural	Pair Corr
0.79	WWNPX	Kinetics Paradigm Downward Rally	Pair Corr
0.97	RMQAX	Monthly Rebalance	Pair Corr
0.97	RMQHX	Monthly Rebalance	Pair Corr
0.88	AIWEX	World Energy	Pair Corr
0.94	AMFCX	American Mutual	Pair Corr
0.64	SECPX	Sdit Ultra Short	Pair Corr
0.78	SIYYX	Simt High Yield	Pair Corr
0.81	ASVNX	Small Cap Value	Pair Corr
0.99	RICEX	Investment Of America	Pair Corr
0.81	OSVCX	Jpmorgan Small Cap	Pair Corr
0.96	BMSYX	Mfs Blended Research	Pair Corr
0.74	AMLPX	Maingate Mlp	Pair Corr
0.95	VHCAX	Vanguard Capital Opp	Pair Corr

Moving against Old Mutual Fund

0.65	OWFIX	Old Westbury Fixed	Pair Corr
0.6	OWCIX	Old Westbury Credit	Pair Corr
0.46	OWMBX	Old Westbury Municipal	Pair Corr
0.43	OWNYX	Old Westbury New	Pair Corr
0.39	OWCAX	Old Westbury California	Pair Corr

Related Correlations Analysis

	OWACX	OWCAX	OWCIX	OWFIX	OWLSX	OWMBX	OWNYX	OWSBX	OWSMX
OWACX		-0.47	-0.63	-0.72	0.97	-0.52	-0.51	-0.24	0.91	OWACX
OWCAX	-0.47		0.88	0.87	-0.39	0.99	0.99	0.78	-0.26	OWCAX
OWCIX	-0.63	0.88		0.98	-0.6	0.9	0.89	0.76	-0.42	OWCIX
OWFIX	-0.72	0.87	0.98		-0.65	0.9	0.89	0.74	-0.5	OWFIX
OWLSX	0.97	-0.39	-0.6	-0.65		-0.46	-0.43	-0.14	0.92	OWLSX
OWMBX	-0.52	0.99	0.9	0.9	-0.46		0.99	0.73	-0.31	OWMBX
OWNYX	-0.51	0.99	0.89	0.89	-0.43	0.99		0.76	-0.3	OWNYX
OWSBX	-0.24	0.78	0.76	0.74	-0.14	0.73	0.76		-0.09	OWSBX
OWSMX	0.91	-0.26	-0.42	-0.5	0.92	-0.31	-0.3	-0.09		OWSMX
	OWACX	OWCAX	OWCIX	OWFIX	OWLSX	OWMBX	OWNYX	OWSBX	OWSMX

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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

OWMBX	+ 0.99	OWCAX
OWNYX	+ 0.99	OWCAX
OWNYX	+ 0.99	OWMBX
OWFIX	+ 0.98	OWCIX
OWLSX	+ 0.97	OWACX
OWSMX	+ 0.92	OWLSX

High negative correlations

OWFIX	- 0.72	OWACX
OWLSX	- 0.65	OWFIX
OWCIX	- 0.63	OWACX
OWLSX	- 0.6	OWCIX
OWMBX	- 0.52	OWACX
OWNYX	- 0.51	OWACX

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
OWACX	0.56	(0.02)	(0.05)	0.10	0.65	(0.62)	1.15	(1.57)	4.38
OWCAX	0.09	0.00	(0.48)	0.17	0.15	(0.16)	0.21	(0.21)	0.82
OWCIX	0.24	(0.02)	0.00	0.52	0.00	0.00	0.50	(0.62)	1.37
OWFIX	0.16	(0.02)	0.00	0.51	0.00	0.00	0.30	(0.30)	1.07
OWLSX	0.51	(0.02)	(0.07)	0.09	0.63	(0.56)	1.21	(1.18)	3.44
OWMBX	0.10	(0.01)	0.00	0.26	0.00	0.00	0.17	(0.26)	0.87
OWNYX	0.09	(0.01)	0.00	0.24	0.00	0.00	0.20	(0.30)	0.92
OWSBX	0.08	0.00	(0.95)	0.20	0.04	(0.11)	0.20	(0.10)	0.49
OWSMX	0.57	(0.04)	(0.07)	0.08	0.62	(0.64)	1.20	(1.05)	4.02

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