Weitz Ultra Correlations

SAFEX Fund

USD 9.98 0.00 0.00%

The current 90-days correlation between Weitz Ultra Short and Nebraska Tax Free Income is 0.03 (i.e., Significant diversification). The correlation of Weitz Ultra 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.

Weitz Ultra Correlation With Market

Very poor diversification

The correlation between Weitz Ultra Short and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Weitz Ultra Short and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Weitz Ultra Short. 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 discontinued.

Moving together with Weitz Mutual Fund

0.99	WSHNX	Short Duration Income	Pair Corr
0.76	WBALX	Balanced Fund Balanced	Pair Corr
0.76	WBAIX	Weitz Balanced	Pair Corr
0.84	WCPBX	Core Plus Income	Pair Corr
0.82	WCPNX	Core Plus Income	Pair Corr
0.65	WVAIX	Value Fund Value	Pair Corr
0.65	WVALX	Value Fund Value	Pair Corr
0.98	WEFIX	Short Duration Income	Pair Corr
0.92	WNTFX	Nebraska Tax Free	Pair Corr
0.63	WPOIX	Partners Iii Opportunity Potential Growth	Pair Corr
0.62	WPOPX	Partners Iii Opportunity	Pair Corr
0.74	WPVLX	Partners Value	Pair Corr
0.74	WPVIX	Partners Value	Pair Corr
0.97	PTSPX	Pimco Short Term	Pair Corr
0.97	PTSHX	Short Term Fund	Pair Corr
0.98	PSFAX	Short Term Fund	Pair Corr
0.98	PTSRX	Short Term Fund	Pair Corr
0.99	PSDNX	Putnam Ultra Short	Pair Corr
0.95	LUSNX	Lord Abbett Ultra	Pair Corr
0.99	MUIIX	Ultra Short Income	Pair Corr
0.99	MUAIX	Ultra Short Income	Pair Corr
0.99	MULSX	Ultra Short Income	Pair Corr
0.99	LUBAX	Lord Abbett Ultra	Pair Corr
0.64	DXQLX	Direxion Monthly Nasdaq	Pair Corr
0.61	RYCCX	Nasdaq 100 2x Potential Growth	Pair Corr
0.63	BIPIX	Biotechnology Ultrasector	Pair Corr
0.86	DHTYX	Diamond Hill All	Pair Corr
0.81	CLTCX	Catalyst/lyons Tactical	Pair Corr
0.81	WIMVX	Westcore Global Large	Pair Corr
0.84	DAAVX	Dunham Dynamic Macro	Pair Corr
0.95	LHYVX	Lord Abbett High	Pair Corr
0.82	CMMCX	Calvert Mortgage Access	Pair Corr
0.88	HASAX	Horizon Active Asset	Pair Corr

Moving against Weitz Mutual Fund

0.65	INPSX	Internet Ultrasector	Pair Corr
0.64	INPIX	Internet Ultrasector	Pair Corr

Related Correlations Analysis

	WSHNX	WBALX	WBAIX	WCPBX	WCPNX	WVAIX	WVALX	WEFIX	WNTFX
WSHNX		0.75	0.75	0.9	0.88	0.63	0.63	0.99	0.95	WSHNX
WBALX	0.75		1.0	0.57	0.55	0.97	0.97	0.73	0.7	WBALX
WBAIX	0.75	1.0		0.58	0.55	0.97	0.97	0.73	0.7	WBAIX
WCPBX	0.9	0.57	0.58		0.99	0.43	0.43	0.9	0.9	WCPBX
WCPNX	0.88	0.55	0.55	0.99		0.41	0.41	0.88	0.88	WCPNX
WVAIX	0.63	0.97	0.97	0.43	0.41		1.0	0.61	0.57	WVAIX
WVALX	0.63	0.97	0.97	0.43	0.41	1.0		0.61	0.57	WVALX
WEFIX	0.99	0.73	0.73	0.9	0.88	0.61	0.61		0.95	WEFIX
WNTFX	0.95	0.7	0.7	0.9	0.88	0.57	0.57	0.95		WNTFX
	WSHNX	WBALX	WBAIX	WCPBX	WCPNX	WVAIX	WVALX	WEFIX	WNTFX

Risk-Adjusted Indicators

There is a big difference between Weitz Mutual Fund performing well and Weitz Ultra 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 Weitz Ultra'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
WSHNX	0.05	0.01	(0.31)	0.54	0.00	(0.14)	0.08	(0.08)	0.50
WBALX	0.36	0.03	0.03	0.11	0.24	(0.48)	0.72	(0.60)	4.27
WBAIX	0.36	0.03	0.04	0.11	0.22	(0.49)	0.72	(0.59)	4.32
WCPBX	0.14	0.01	(0.11)	0.41	0.00	(0.18)	0.31	(0.21)	0.72
WCPNX	0.14	0.01	(0.13)	0.42	0.03	(0.18)	0.31	(0.31)	0.62
WVAIX	1.22	0.29	0.32	0.22	0.59	(1.74)	1.62	(1.42)	30.99
WVALX	1.25	0.31	0.35	0.23	0.56	(1.79)	1.62	(1.41)	32.49
WEFIX	0.05	0.01	(0.30)	0.27	0.00	(0.14)	0.17	(0.08)	0.58
WNTFX	0.04	0.01	0.00	0.74	0.00	0.00	0.10	0.00	0.20

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