Redwood Managed Correlations

RWDIX Fund

USD 11.28 0.01 0.09%

The current 90-days correlation between Redwood Managed Vola and North Star Dividend is 0.34 (i.e., Weak diversification). The correlation of Redwood Managed 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.

Redwood Managed Correlation With Market

Almost no diversification

The correlation between Redwood Managed Volatility and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Redwood Managed Volatility 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 Redwood Managed Volatility. 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 Redwood Mutual Fund

1.0	RWDNX	Redwood Managed Vola	Pair Corr
1.0	RWDYX	Redwood Managed Vola	Pair Corr
0.91	RWIIX	Redwood Alphafactor	Pair Corr
0.69	RWMIX	Redwood Managed Municipal	Pair Corr
0.94	RWSNX	Redwood Systematic Macro	Pair Corr
0.94	RWSIX	Redwood Systematic Macro	Pair Corr
0.97	BSICX	Blackrock Strategic Opps	Pair Corr
0.97	BASIX	Blackrock Strategic Opps	Pair Corr
0.96	BSIIX	Blackrock Strategic	Pair Corr
0.97	BSIKX	Blackrock Strategic	Pair Corr
0.93	PMZNX	Pimco Mortgage Oppor	Pair Corr
0.96	JSORX	Jpmorgan Strategic Income	Pair Corr
0.93	PMZCX	Pimco Mortgage Oppor	Pair Corr
0.92	PMZAX	Pimco Mortgage Oppor	Pair Corr
0.95	JSOZX	Jpmorgan Strategic Income	Pair Corr
0.97	JSOCX	Jpmorgan Strategic Income	Pair Corr
0.87	LIIAX	Columbia Porate Income	Pair Corr
0.84	SRINX	Columbia Porate Income	Pair Corr
0.91	WRHIX	Ivy High Income	Pair Corr
0.92	WHIAX	Ivy High Income	Pair Corr
0.93	IHIFX	Ivy High Income	Pair Corr
0.92	IVHIX	Ivy High Income	Pair Corr
0.95	FAASX	Fidelity Asset Manager	Pair Corr
0.94	JNEMX	Jpmorgan International	Pair Corr
0.97	SEIYX	Simt High Yield	Pair Corr
0.91	XDIAX	Nuveen Dow 30	Pair Corr
0.76	WIESX	Wasatch Emerging Markets	Pair Corr
0.96	BRUGX	Mfs Blended Research	Pair Corr
0.81	VFINX	Vanguard 500 Index	Pair Corr
0.97	MKSPX	Blackrock Advantage Total	Pair Corr
0.96	DGINX	Dgi Balanced	Pair Corr
0.81	PSFIX	Virtus Senior Floating	Pair Corr
0.96	FIIVX	Fidelity Income Repl	Pair Corr
0.96	SSAWX	State Street Target	Pair Corr
0.89	EILBX	Eaton Vance Tabs	Pair Corr
0.62	ACSMX	Advisors Capital Smallmid	Pair Corr
0.95	IMOLX	Transamerica Asset	Pair Corr
0.89	JGICX	Janus Growth And	Pair Corr
0.96	FFTHX	Fidelity Freedom 2035	Pair Corr

Related Correlations Analysis

	BTTRX	IBCA	JSVTX	FSVLX	JVSIX	SISAX	ETNEX	LIPRX	RYOIX	NSDVX
BTTRX		0.68	0.94	-0.4	0.94	0.95	-0.25	0.28	0.93	0.85	BTTRX
IBCA	0.68		0.68	-0.33	0.68	0.7	-0.05	0.72	0.67	0.67	IBCA
JSVTX	0.94	0.68		-0.39	1.0	0.92	-0.18	0.3	0.88	0.92	JSVTX
FSVLX	-0.4	-0.33	-0.39		-0.39	-0.32	0.78	-0.6	-0.23	-0.64	FSVLX
JVSIX	0.94	0.68	1.0	-0.39		0.92	-0.18	0.3	0.88	0.92	JVSIX
SISAX	0.95	0.7	0.92	-0.32	0.92		-0.15	0.32	0.95	0.81	SISAX
ETNEX	-0.25	-0.05	-0.18	0.78	-0.18	-0.15		-0.3	-0.16	-0.38	ETNEX
LIPRX	0.28	0.72	0.3	-0.6	0.3	0.32	-0.3		0.23	0.5	LIPRX
RYOIX	0.93	0.67	0.88	-0.23	0.88	0.95	-0.16	0.23		0.75	RYOIX
NSDVX	0.85	0.67	0.92	-0.64	0.92	0.81	-0.38	0.5	0.75		NSDVX
	BTTRX	IBCA	JSVTX	FSVLX	JVSIX	SISAX	ETNEX	LIPRX	RYOIX	NSDVX

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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

JVSIX	+ 1.0	JSVTX
SISAX	+ 0.95	BTTRX
RYOIX	+ 0.95	SISAX
JSVTX	+ 0.94	BTTRX
JVSIX	+ 0.94	BTTRX
RYOIX	+ 0.93	BTTRX

High negative correlations

NSDVX	- 0.64	FSVLX
LIPRX	- 0.6	FSVLX
FSVLX	- 0.4	BTTRX
JVSIX	- 0.39	FSVLX
FSVLX	- 0.39	JSVTX
NSDVX	- 0.38	ETNEX

Risk-Adjusted Indicators

There is a big difference between Redwood Mutual Fund performing well and Redwood Managed 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 Redwood Managed'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
BTTRX	0.01	0.00	0.00	(0.25)	0.00	0.00	0.03	0.00	0.05
IBCA	0.18	0.02	(0.15)	0.26	0.11	(0.21)	0.43	(0.31)	1.05
JSVTX	0.96	0.29	0.28	0.36	0.47	(1.09)	2.42	(1.40)	12.27
FSVLX	1.04	(0.35)	0.00	(0.22)	0.00	0.00	1.86	(2.64)	6.60
JVSIX	0.96	0.29	0.28	0.36	0.48	(1.06)	2.51	(1.38)	12.26
SISAX	0.62	0.18	0.24	0.31	0.25	(0.76)	1.27	(1.09)	10.84
ETNEX	1.29	(0.19)	0.00	(0.10)	0.00	0.00	2.60	(3.39)	8.16
LIPRX	0.12	0.00	(0.28)	0.13	0.04	(0.18)	0.31	(0.21)	0.73
RYOIX	1.15	0.32	0.25	0.83	0.73	(1.35)	2.71	(1.49)	15.83
NSDVX	0.70	0.13	0.14	0.24	0.56	(0.85)	1.87	(1.19)	4.01

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