Weitz Ultra Correlations

SAFEX Fund

USD 9.99 0.01 0.10%

The current 90-days correlation between Weitz Ultra Short and Rationalpier 88 Convertible is -0.22 (i.e., Very good 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

Good diversification

The correlation between Weitz Ultra Short and DJI is -0.15 (i.e., Good 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 income.

Moving together with Weitz Mutual Fund

0.65	WBALX	Balanced Fund Balanced	Pair Corr
0.66	WBAIX	Weitz Balanced	Pair Corr
0.68	WVAIX	Value Fund Value	Pair Corr
0.68	WVALX	Value Fund Value	Pair Corr
0.81	WPOIX	Partners Iii Opportunity	Pair Corr
0.81	WPOPX	Partners Iii Opportunity	Pair Corr
0.83	WPVLX	Partners Value	Pair Corr
0.83	WPVIX	Partners Value	Pair Corr
0.99	PTSPX	Pimco Short Term	Pair Corr
0.99	PTSHX	Short Term Fund	Pair Corr
0.99	PSFAX	Short Term Fund	Pair Corr
0.97	PTSRX	Short Term Fund	Pair Corr
0.93	PSDNX	Putnam Ultra Short	Pair Corr
0.97	LUSNX	Lord Abbett Ultra	Pair Corr
0.87	VUBFX	Vanguard Ultra-short-term	Pair Corr
0.97	PSDRX	Putnam Short Duration	Pair Corr
0.97	PSDYX	Putnam Short Duration	Pair Corr
0.65	SMPSX	Semiconductor Ultrasector	Pair Corr
0.66	SMPIX	Semiconductor Ultrasector	Pair Corr
0.86	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.86	LSHEX	Kinetics Spin Off Steady Growth	Pair Corr
0.8	RSNYX	Victory Global Natural	Pair Corr
0.86	LSHCX	Horizon Spin Off Steady Growth	Pair Corr
0.79	RSNRX	Victory Global Natural	Pair Corr
0.86	LSHAX	Horizon Spin Off Steady Growth	Pair Corr
0.79	RGNCX	Victory Global Natural	Pair Corr
0.86	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.77	FSRBX	Banking Portfolio Banking	Pair Corr
0.79	VFINX	Vanguard 500 Index	Pair Corr
0.73	PFN	Pimco Income Strategy	Pair Corr
0.79	VFIAX	Vanguard 500 Index	Pair Corr
0.81	TWQZX	Transamerica Large Cap	Pair Corr

Moving against Weitz Mutual Fund

0.69	WCPNX	Core Plus Income	Pair Corr
0.68	WCPBX	Core Plus Income	Pair Corr

Related Correlations Analysis

	PBXIX	ARTFX	ANAZX	TPYYX	SWSFX	TTRBX	TFBIX
PBXIX		0.85	-0.57	0.04	0.76	-0.48	-0.03	PBXIX
ARTFX	0.85		-0.34	0.16	0.85	-0.19	0.17	ARTFX
ANAZX	-0.57	-0.34		0.32	-0.49	0.97	0.68	ANAZX
TPYYX	0.04	0.16	0.32		0.01	0.37	0.4	TPYYX
SWSFX	0.76	0.85	-0.49	0.01		-0.36	-0.04	SWSFX
TTRBX	-0.48	-0.19	0.97	0.37	-0.36		0.71	TTRBX
TFBIX	-0.03	0.17	0.68	0.4	-0.04	0.71		TFBIX
	PBXIX	ARTFX	ANAZX	TPYYX	SWSFX	TTRBX	TFBIX

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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

TTRBX	+ 0.97	ANAZX
ARTFX	+ 0.85	PBXIX
SWSFX	+ 0.85	ARTFX
SWSFX	+ 0.76	PBXIX
TFBIX	+ 0.71	TTRBX
TFBIX	+ 0.68	ANAZX

High negative correlations

ANAZX	- 0.57	PBXIX
SWSFX	- 0.49	ANAZX
TTRBX	- 0.48	PBXIX
TTRBX	- 0.36	SWSFX
ANAZX	- 0.34	ARTFX
TTRBX	- 0.19	ARTFX

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
PBXIX	0.31	0.05	(0.06)	0.23	0.00	(0.41)	0.87	(0.55)	1.94
ARTFX	0.12	0.04	(0.60)	(1.12)	0.00	(0.20)	0.33	(0.22)	1.01
ANAZX	0.18	(0.02)	0.00	(0.70)	0.00	0.00	0.29	(0.29)	1.01
TPYYX	0.71	0.00	(0.12)	0.06	0.97	(0.74)	1.40	(1.71)	5.39
SWSFX	0.05	0.01	(1.04)	(1.89)	0.00	(0.21)	0.10	(0.10)	0.59
TTRBX	0.13	(0.01)	(0.61)	(0.37)	0.16	(0.17)	0.30	(0.30)	0.70
TFBIX	0.16	0.02	(0.29)	(0.07)	0.20	(0.23)	0.40	(0.39)	1.58

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