Virtus Ceredex Correlations

VVERX Fund

USD 9.06 0.01 0.11%

The current 90-days correlation between Virtus Ceredex Small and International Investors Gold is 0.01 (i.e., Significant diversification). The correlation of Virtus Ceredex 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.

Virtus Ceredex Correlation With Market

Very poor diversification

The correlation between Virtus Ceredex Small Cap 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 Virtus Ceredex Small Cap 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 Virtus Ceredex Small Cap. 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 metropolitan statistical area.

Moving together with Virtus Mutual Fund

0.74	HYIZX	Ridgeworth Seix High	Pair Corr
0.9	SAGAX	Ridgeworth Innovative	Pair Corr
0.73	HYPSX	Ridgeworth Seix High	Pair Corr
0.73	SAMBX	Ridgeworth Seix Floating	Pair Corr
0.77	SAMHX	Ridgeworth Seix High	Pair Corr
0.98	SAMVX	Ridgeworth Ceredex Mid	Pair Corr
0.73	PFSRX	Virtus Senior Floating	Pair Corr
1.0	SASVX	Ridgeworth Ceredex Small	Pair Corr
0.72	PXIIX	Virtus Rampart Enhanced	Pair Corr
0.96	PXQSX	Virtus Kar Small	Pair Corr
0.92	SSTFX	Virtus Kar Capital	Pair Corr
0.96	PXSGX	Virtus Kar Small	Pair Corr
0.68	PGHCX	Virtus High Yield	Pair Corr
0.7	PGICX	Virtus Rampart Enhanced	Pair Corr
0.87	STCZX	Ridgeworth Silvant Large	Pair Corr
0.87	STCAX	Ridgeworth Silvant Large	Pair Corr
0.87	STCIX	Ridgeworth Silvant Large	Pair Corr
1.0	STCEX	Ridgeworth Ceredex Small	Pair Corr

Moving against Virtus Mutual Fund

0.66	SAMFX	Ridgeworth Seix Total	Pair Corr
0.66	SAMZX	Ridgeworth Seix Total	Pair Corr
0.64	SAVCX	Virtus Bond Fund	Pair Corr
0.63	SAVAX	Virtus Bond Fund	Pair Corr
0.62	SAVYX	Virtus Bond Fund	Pair Corr
0.6	SAINX	Ridgeworth Seix Porate	Pair Corr
0.38	PXCZX	Virtus Tax Exempt	Pair Corr
0.66	STGIX	Ridgeworth Seix E	Pair Corr
0.66	STGZX	Ridgeworth Seix E	Pair Corr
0.66	STIGX	Ridgeworth Seix E	Pair Corr
0.62	STIFX	Ridgeworth Seix Porate	Pair Corr
0.6	STICX	Ridgeworth Seix Porate	Pair Corr
0.49	STITX	Ridgeworth International	Pair Corr
0.37	STTBX	Ridgeworth Seix Inve	Pair Corr

Related Correlations Analysis

	IIGCX	INIVX	MXKJX	GEBRX	GLDAX	EPGFX	GLRBX	SPPIX
IIGCX		1.0	0.05	0.6	0.98	0.99	0.44	-0.9	IIGCX
INIVX	1.0		0.06	0.6	0.98	0.99	0.44	-0.9	INIVX
MXKJX	0.05	0.06		0.01	-0.04	0.05	0.73	0.23	MXKJX
GEBRX	0.6	0.6	0.01		0.59	0.64	0.52	-0.59	GEBRX
GLDAX	0.98	0.98	-0.04	0.59		0.98	0.41	-0.96	GLDAX
EPGFX	0.99	0.99	0.05	0.64	0.98		0.47	-0.91	EPGFX
GLRBX	0.44	0.44	0.73	0.52	0.41	0.47		-0.29	GLRBX
SPPIX	-0.9	-0.9	0.23	-0.59	-0.96	-0.91	-0.29		SPPIX
	IIGCX	INIVX	MXKJX	GEBRX	GLDAX	EPGFX	GLRBX	SPPIX

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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

INIVX	+ 1.0	IIGCX
EPGFX	+ 0.99	IIGCX
EPGFX	+ 0.99	INIVX
GLDAX	+ 0.98	IIGCX
GLDAX	+ 0.98	INIVX
EPGFX	+ 0.98	GLDAX

High negative correlations

SPPIX	- 0.96	GLDAX
SPPIX	- 0.91	EPGFX
SPPIX	- 0.9	INIVX
SPPIX	- 0.9	IIGCX
SPPIX	- 0.59	GEBRX
SPPIX	- 0.29	GLRBX

Risk-Adjusted Indicators

There is a big difference between Virtus Mutual Fund performing well and Virtus Ceredex 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 Virtus Ceredex'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
IIGCX	1.39	(0.03)	(0.06)	(0.01)	1.80	(1.44)	2.67	(2.70)	9.76
INIVX	1.40	(0.02)	(0.06)	0.01	1.80	(1.45)	2.66	(2.74)	9.92
MXKJX	0.59	0.01	0.00	0.13	0.51	(0.73)	1.26	(1.23)	3.51
GEBRX	0.79	(0.07)	0.00	(0.04)	0.00	0.00	1.67	(1.98)	5.77
GLDAX	1.34	(0.03)	0.00	(0.10)	0.00	0.00	2.70	(2.77)	9.26
EPGFX	1.45	(0.02)	(0.05)	0.05	1.97	(1.39)	2.54	(3.10)	10.62
GLRBX	0.31	(0.03)	(0.22)	0.04	0.39	(0.32)	0.61	(0.70)	1.88
SPPIX	1.42	0.11	(0.01)	(0.49)	1.72	(1.56)	3.24	(2.31)	10.50

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