Wasatch Long/short Correlations

WALSX Fund

USD 14.66 0.08 0.55%

The current 90-days correlation between Wasatch Longshort Alpha and Schwab Small Cap Index is 0.14 (i.e., Average diversification). The correlation of Wasatch Long/short 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.

Wasatch Long/short Correlation With Market

Average diversification

The correlation between Wasatch Longshort Alpha and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wasatch Longshort Alpha and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Wasatch Longshort Alpha. 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 state.

Moving together with Wasatch Mutual Fund

0.81	WAEMX	Wasatch Emerging Markets	Pair Corr
0.75	WAESX	Wasatch Emerging Markets	Pair Corr
0.63	WAGSX	Wasatch Global Select	Pair Corr
0.89	WAGOX	Wasatch Global Oppor	Pair Corr
0.65	WAFMX	Wasatch Frontier Emerging	Pair Corr
0.72	WAGCX	Wasatch Greater China	Pair Corr
0.81	WAINX	Wasatch Emerging India	Pair Corr
0.61	WAMCX	Wasatch Ultra Growth	Pair Corr
0.81	WAUSX	Wasatch Select Investor	Pair Corr
0.73	WGGCX	Wasatch Greater China	Pair Corr
0.87	WGROX	Wasatch E Growth	Pair Corr
0.79	WHOSX	Wasatch Hoisington	Pair Corr
0.91	WICVX	Wasatch Small Cap	Pair Corr
0.7	WIFMX	Wasatch Frontier Emerging	Pair Corr
0.82	WIEMX	Wasatch Emerging Markets	Pair Corr
0.75	WIESX	Wasatch Emerging Markets	Pair Corr
0.87	WIIGX	Wasatch International	Pair Corr
0.81	WIINX	Wasatch Emerging India	Pair Corr
0.87	WIGRX	Wasatch E Growth	Pair Corr
0.88	WIGOX	Wasatch Global Oppor	Pair Corr
0.87	WILCX	Wasatch Large Cap	Pair Corr
0.9	WMCVX	Wasatch Small Cap	Pair Corr
0.87	FMIEX	Wasatch Large Cap	Pair Corr

Moving against Wasatch Mutual Fund

0.62	COGVX	Cognios Large Cap	Pair Corr
0.6	QLERX	Aqr Long Short	Pair Corr
0.41	NLSIX	Neuberger Berman Long	Pair Corr
0.4	NLSAX	Neuberger Berman Long	Pair Corr
0.38	NLSCX	Neuberger Berman Long	Pair Corr

Related Correlations Analysis

	SWSSX	PGBAX	VYRIX	LIGFX	QDARX	GABSX
SWSSX		0.67	0.66	0.86	-0.43	0.85	SWSSX
PGBAX	0.67		0.74	0.88	-0.32	0.61	PGBAX
VYRIX	0.66	0.74		0.79	-0.35	0.42	VYRIX
LIGFX	0.86	0.88	0.79		-0.25	0.77	LIGFX
QDARX	-0.43	-0.32	-0.35	-0.25		-0.35	QDARX
GABSX	0.85	0.61	0.42	0.77	-0.35		GABSX
	SWSSX	PGBAX	VYRIX	LIGFX	QDARX	GABSX

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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

LIGFX	+ 0.88	PGBAX
LIGFX	+ 0.86	SWSSX
GABSX	+ 0.85	SWSSX
LIGFX	+ 0.79	VYRIX
GABSX	+ 0.77	LIGFX
VYRIX	+ 0.74	PGBAX

High negative correlations

QDARX	- 0.43	SWSSX
GABSX	- 0.35	QDARX
QDARX	- 0.35	VYRIX
QDARX	- 0.32	PGBAX
QDARX	- 0.25	LIGFX

Risk-Adjusted Indicators

There is a big difference between Wasatch Mutual Fund performing well and Wasatch Long/short 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 Wasatch Long/short'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
SWSSX	0.93	0.03	(0.02)	0.15	1.16	(1.00)	1.84	(1.63)	10.26
PGBAX	0.15	(0.01)	(0.42)	(0.04)	0.14	(0.20)	0.34	(0.34)	1.01
VYRIX	0.92	0.16	0.06	1.79	1.13	(0.97)	1.83	(1.64)	7.60
LIGFX	0.28	0.00	(0.15)	0.10	0.37	(0.29)	0.62	(0.50)	2.04
QDARX	0.10	(0.01)	(0.50)	1.18	0.14	(0.15)	0.25	(0.25)	0.74
GABSX	0.85	(0.09)	0.00	(0.07)	0.00	0.00	1.60	(1.35)	9.00

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