Redwood Managed Correlations

RWDIX Fund

USD 11.21 0.01 0.09%

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

Modest diversification

The correlation between Redwood Managed Volatility and DJI is 0.29 (i.e., Modest 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

0.94	RWDNX	Redwood Managed Vola	Pair Corr
0.84	RWDYX	Redwood Managed Vola	Pair Corr
0.64	BSICX	Blackrock Strategic Opps	Pair Corr
0.71	BASIX	Blackrock Strategic Opps	Pair Corr
0.79	BSIIX	Blackrock Strategic	Pair Corr
0.61	BSIKX	Blackrock Strategic	Pair Corr
0.64	JSORX	Jpmorgan Strategic Income	Pair Corr
0.85	PMZNX	Pimco Mortgage Oppor	Pair Corr
0.81	PMZCX	Pimco Mortgage Oppor	Pair Corr
0.84	PMZAX	Pimco Mortgage Oppor	Pair Corr
0.76	JSOZX	Jpmorgan Strategic Income	Pair Corr
0.75	JSOCX	Jpmorgan Strategic Income	Pair Corr
0.68	CLM	Cornerstone Strategic	Pair Corr
0.63	CRF	Cornerstone Total Return	Pair Corr
0.7	USA	Liberty All Star	Pair Corr
0.69	NFJ	Virtus Dividend Interest	Pair Corr
0.61	GFACX	Growth Fund	Pair Corr
0.72	HFMRX	Hartford Midcap	Pair Corr
0.76	PCVCX	Allianzgi Nfj Small	Pair Corr
0.91	GIOSX	Guggenheim Macro Opp	Pair Corr
0.72	LCAIX	Lazard Capital Allocator	Pair Corr
0.95	FDHCX	First Trust Short	Pair Corr
0.89	MPHZX	Massmutual Premier High	Pair Corr
0.85	WSCYX	Ivy Small Cap	Pair Corr
0.69	HBLTX	Hartford Balanced	Pair Corr
0.94	SSTHX	Wells Fargo Short	Pair Corr
0.81	RTRIX	Royce Total Return	Pair Corr

Moving against Redwood Mutual Fund

0.37	RWIIX	Redwood Alphafactor	Pair Corr
0.68	IFN	India Closed	Pair Corr

Related Correlations Analysis

	BTTRX	IBCA	JSVTX	FSVLX	JVSIX	SISAX	ETNEX	LIPRX	RYOIX	NSDVX
BTTRX		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	BTTRX
IBCA	0.0		0.39	0.35	0.37	0.39	0.0	0.28	0.34	0.44	IBCA
JSVTX	0.0	0.39		0.4	0.86	0.85	0.27	-0.37	0.7	0.61	JSVTX
FSVLX	0.0	0.35	0.4		0.42	0.38	0.56	0.3	0.1	0.77	FSVLX
JVSIX	0.0	0.37	0.86	0.42		0.73	0.27	-0.41	0.82	0.73	JVSIX
SISAX	0.0	0.39	0.85	0.38	0.73		0.26	-0.29	0.77	0.4	SISAX
ETNEX	0.0	0.0	0.27	0.56	0.27	0.26		0.17	0.01	0.3	ETNEX
LIPRX	0.0	0.28	-0.37	0.3	-0.41	-0.29	0.17		-0.48	0.0	LIPRX
RYOIX	0.0	0.34	0.7	0.1	0.82	0.77	0.01	-0.48		0.4	RYOIX
NSDVX	0.0	0.44	0.61	0.77	0.73	0.4	0.3	0.0	0.4		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	+ 0.86	JSVTX
SISAX	+ 0.85	JSVTX
RYOIX	+ 0.82	JVSIX
NSDVX	+ 0.77	FSVLX
RYOIX	+ 0.77	SISAX
SISAX	+ 0.73	JVSIX

High negative correlations

RYOIX	- 0.48	LIPRX
LIPRX	- 0.41	JVSIX
LIPRX	- 0.37	JSVTX
LIPRX	- 0.29	SISAX
NSDVX	- 0.0	LIPRX
ETNEX	- 0.0	IBCA

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	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IBCA	0.20	0.01	(0.26)	1.01	0.20	(0.21)	0.39	(0.35)	1.00
JSVTX	0.94	0.14	0.13	0.21	0.75	(1.04)	2.22	(1.47)	11.03
FSVLX	0.99	(0.12)	0.00	(0.02)	0.00	0.00	2.09	(2.23)	6.33
JVSIX	0.97	0.16	0.15	0.23	0.76	(1.05)	2.20	(1.38)	10.97
SISAX	0.64	0.10	0.11	0.20	0.50	(0.69)	1.16	(1.12)	10.87
ETNEX	1.20	(0.08)	(0.02)	0.02	1.78	(1.20)	2.52	(3.39)	7.54
LIPRX	0.13	(0.01)	(0.38)	(0.17)	0.15	(0.18)	0.21	(0.31)	0.73
RYOIX	1.04	0.36	0.33	0.98	0.47	(1.26)	2.06	(1.16)	14.39
NSDVX	0.67	(0.09)	0.00	(0.05)	0.00	0.00	1.65	(1.37)	3.85

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