Ridgeworth Innovative Correlations

SCATX Fund

USD 61.23 0.85 1.41%

The current 90-days correlation between Ridgeworth Innovative and Virtus Multi Strategy Target is 0.13 (i.e., Average diversification). The correlation of Ridgeworth Innovative 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.

Ridgeworth Innovative Correlation With Market

Modest diversification

The correlation between Ridgeworth Innovative Growth and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ridgeworth Innovative Growth 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 Ridgeworth Innovative Growth. 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 estimate.

Moving together with Ridgeworth Mutual Fund

0.75	VMSAX	Virtus Multi Strategy	Pair Corr
0.7	VMSSX	Virtus Multi Sector	Pair Corr
0.79	HYIZX	Ridgeworth Seix High	Pair Corr
1.0	SAGAX	Ridgeworth Innovative	Pair Corr
0.81	HYPSX	Ridgeworth Seix High	Pair Corr
0.63	SAMBX	Ridgeworth Seix Floating	Pair Corr
0.78	SAMHX	Ridgeworth Seix High	Pair Corr
0.69	PFSRX	Virtus Senior Floating	Pair Corr
0.79	PGHCX	Virtus High Yield	Pair Corr
0.67	HIBIX	Virtus Low Duration	Pair Corr
0.92	STCZX	Ridgeworth Silvant Large	Pair Corr
0.92	STCAX	Ridgeworth Silvant Large	Pair Corr
0.92	STCIX	Ridgeworth Silvant Large	Pair Corr
0.67	HIMZX	Virtus Low Duration	Pair Corr

Moving against Ridgeworth Mutual Fund

0.49	SAINX	Ridgeworth Seix Porate	Pair Corr
0.57	STIFX	Ridgeworth Seix Porate	Pair Corr
0.55	STICX	Ridgeworth Seix Porate	Pair Corr

Related Correlations Analysis

	VMSAX	VMSSX	HYIZX	SAGAX	HYPSX	SAMFX	SAMBX	SAMHX	SSAGX	SAMVX
VMSAX		0.69	0.82	0.75	0.82	0.59	0.57	0.79	0.43	0.29	VMSAX
VMSSX	0.69		0.88	0.7	0.93	0.09	0.9	0.92	0.93	-0.27	VMSSX
HYIZX	0.82	0.88		0.79	0.95	0.23	0.9	0.95	0.76	0.01	HYIZX
SAGAX	0.75	0.7	0.79		0.81	0.29	0.63	0.78	0.52	0.13	SAGAX
HYPSX	0.82	0.93	0.95	0.81		0.33	0.86	0.99	0.78	0.04	HYPSX
SAMFX	0.59	0.09	0.23	0.29	0.33		-0.08	0.3	-0.23	0.72	SAMFX
SAMBX	0.57	0.9	0.9	0.63	0.86	-0.08		0.87	0.89	-0.25	SAMBX
SAMHX	0.79	0.92	0.95	0.78	0.99	0.3	0.87		0.79	0.05	SAMHX
SSAGX	0.43	0.93	0.76	0.52	0.78	-0.23	0.89	0.79		-0.54	SSAGX
SAMVX	0.29	-0.27	0.01	0.13	0.04	0.72	-0.25	0.05	-0.54		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

SAMHX	+ 0.99	HYPSX
HYPSX	+ 0.95	HYIZX
SAMHX	+ 0.95	HYIZX
HYPSX	+ 0.93	VMSSX
SSAGX	+ 0.93	VMSSX
SAMHX	+ 0.92	VMSSX

High negative correlations

SAMVX	- 0.54	SSAGX
SAMVX	- 0.27	VMSSX
SAMVX	- 0.25	SAMBX
SSAGX	- 0.23	SAMFX
SAMBX	- 0.08	SAMFX

Risk-Adjusted Indicators

There is a big difference between Ridgeworth Mutual Fund performing well and Ridgeworth Innovative 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 Ridgeworth Innovative'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	0.14	0.01	(0.30)	0.87	0.06	(0.18)	0.28	(0.28)	1.00
VMSSX	0.08	0.01	(0.23)	0.69	0.00	(0.29)	0.22	(0.22)	0.89
HYIZX	0.13	0.02	(0.21)	(1.59)	0.00	(0.24)	0.51	(0.25)	1.14
SAGAX	1.18	0.15	0.07	0.37	1.50	(1.24)	2.23	(2.28)	7.21
HYPSX	0.13	0.02	(0.19)	0.56	0.00	(0.20)	0.39	(0.26)	1.17
SAMFX	0.25	(0.02)	0.00	(0.19)	0.00	0.00	0.65	(0.65)	1.52
SAMBX	0.10	0.02	(0.13)	(0.55)	0.00	(0.39)	0.13	(0.13)	1.56
SAMHX	0.13	0.02	(0.19)	0.51	0.00	(0.19)	0.38	(0.25)	1.02
SSAGX	0.05	0.01	(0.53)	1.31	0.00	(0.19)	0.10	(0.10)	0.51
SAMVX	0.82	(0.07)	0.00	(0.08)	0.00	0.00	1.37	(1.44)	13.92

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