Virtus Senior Correlations

PSFIX Fund

USD 8.44 0.01 0.12%

The current 90-days correlation between Virtus Senior Floating and Ridgeworth Ceredex Mid Cap is -0.01 (i.e., Good diversification). The correlation of Virtus Senior 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.

Virtus Senior Correlation With Market

Poor diversification

The correlation between Virtus Senior Floating and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Virtus Senior Floating 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 Virtus Senior Floating. 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 Virtus Mutual Fund

0.76	VMSAX	Vanguard Multi Sector	Pair Corr
0.71	VMSSX	Virtus Multi Sector	Pair Corr
0.88	HYIZX	Ridgeworth Seix High	Pair Corr
0.87	HYPSX	Ridgeworth Seix High	Pair Corr
0.92	SAMBX	Ridgeworth Seix Floating	Pair Corr
0.87	SAMHX	Ridgeworth Seix High	Pair Corr
0.8	SSAGX	Virtus Seix Government	Pair Corr
0.71	SAMVX	Ridgeworth Ceredex Mid	Pair Corr
0.98	PFSRX	Virtus Senior Floating	Pair Corr
0.68	SASVX	Ridgeworth Ceredex Small	Pair Corr
0.67	PXIIX	Virtus Rampart Enhanced	Pair Corr
0.61	SAVAX	Virtus Bond Fund	Pair Corr
0.72	PXQSX	Virtus Kar Small	Pair Corr
0.66	SSTFX	Virtus Kar Capital	Pair Corr
0.68	PGICX	Virtus Rampart Enhanced	Pair Corr
0.76	HIBIX	Virtus Low Duration	Pair Corr
0.73	HIMZX	Virtus Low Duration	Pair Corr
0.75	PHCIX	Virtus High Yield	Pair Corr
0.63	STTBX	Ridgeworth Seix Inve	Pair Corr

Moving against Virtus Mutual Fund

0.63	PXSGX	Virtus Kar Small	Pair Corr
0.63	PHSKX	Virtus Kar Mid	Pair Corr
0.39	PICMX	Virtus Kar Mid	Pair Corr

Related Correlations Analysis

	VMSAX	VMSSX	HYIZX	SAGAX	HYPSX	SAMFX	SAMBX	SAMHX	SSAGX	SAMVX
VMSAX		0.94	0.95	-0.3	0.95	0.82	0.89	0.95	0.96	0.95	VMSAX
VMSSX	0.94		0.92	-0.47	0.92	0.84	0.85	0.93	0.98	0.9	VMSSX
HYIZX	0.95	0.92		-0.18	1.0	0.75	0.93	1.0	0.96	0.88	HYIZX
SAGAX	-0.3	-0.47	-0.18		-0.19	-0.46	-0.05	-0.2	-0.39	-0.3	SAGAX
HYPSX	0.95	0.92	1.0	-0.19		0.76	0.92	1.0	0.95	0.89	HYPSX
SAMFX	0.82	0.84	0.75	-0.46	0.76		0.61	0.77	0.79	0.7	SAMFX
SAMBX	0.89	0.85	0.93	-0.05	0.92	0.61		0.93	0.91	0.89	SAMBX
SAMHX	0.95	0.93	1.0	-0.2	1.0	0.77	0.93		0.96	0.89	SAMHX
SSAGX	0.96	0.98	0.96	-0.39	0.95	0.79	0.91	0.96		0.93	SSAGX
SAMVX	0.95	0.9	0.88	-0.3	0.89	0.7	0.89	0.89	0.93		SAMVX
	VMSAX	VMSSX	HYIZX	SAGAX	HYPSX	SAMFX	SAMBX	SAMHX	SSAGX	SAMVX

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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

HYPSX	+ 1.0	HYIZX
SAMHX	+ 1.0	HYIZX
SAMHX	+ 1.0	HYPSX
SSAGX	+ 0.98	VMSSX
SSAGX	+ 0.96	VMSAX
SSAGX	+ 0.96	HYIZX

High negative correlations

SAGAX	- 0.47	VMSSX
SAMFX	- 0.46	SAGAX
SSAGX	- 0.39	SAGAX
SAMVX	- 0.3	SAGAX
SAGAX	- 0.3	VMSAX
SAMHX	- 0.2	SAGAX

Risk-Adjusted Indicators

There is a big difference between Virtus Mutual Fund performing well and Virtus Senior 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 Virtus Senior'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
VMSAX	0.07	0.02	(0.33)	0.38	0.00	(0.10)	0.16	(0.11)	0.38
VMSSX	0.06	0.01	0.00	0.53	0.00	0.00	0.22	0.00	0.44
HYIZX	0.13	0.01	(0.23)	0.14	0.00	(0.21)	0.26	(0.25)	1.02
SAGAX	1.12	(0.28)	0.00	(0.21)	0.00	0.00	2.35	(2.92)	7.13
HYPSX	0.12	0.01	(0.27)	0.15	0.00	(0.22)	0.26	(0.13)	1.05
SAMFX	0.14	0.01	(0.23)	0.47	0.00	(0.17)	0.32	(0.21)	0.64
SAMBX	0.09	0.01	(0.33)	0.74	0.00	(0.27)	0.40	(0.13)	0.93
SAMHX	0.12	0.01	(0.27)	0.19	0.00	(0.22)	0.26	(0.13)	1.02
SSAGX	0.05	0.01	0.00	(0.98)	0.00	0.00	0.10	(0.10)	0.51
SAMVX	1.01	0.36	0.33	0.51	0.49	(1.24)	2.23	(1.65)	15.54

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