Weitz Balanced Correlations

WBAIX Fund

USD 17.85 0.04 0.22%

The current 90-days correlation between Weitz Balanced and Weitz Ultra Short is -0.16 (i.e., Good diversification). The correlation of Weitz Balanced 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 Balanced Correlation With Market

Poor diversification

The correlation between Weitz Balanced and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Weitz Balanced 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 Weitz Balanced. 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 gross domestic product.

Moving together with Weitz Mutual Fund

0.68	SAFEX	Weitz Ultra Short	Pair Corr
0.63	WSHNX	Short Duration Income	Pair Corr
0.99	WBALX	Balanced Fund Balanced	Pair Corr
0.84	WVAIX	Value Fund Value	Pair Corr
0.75	WVALX	Value Fund Value	Pair Corr
0.61	WEFIX	Short Duration Income	Pair Corr
0.82	WPOIX	Partners Iii Opportunity	Pair Corr
0.82	WPOPX	Partners Iii Opportunity	Pair Corr
0.84	WPVLX	Partners Value	Pair Corr
0.84	WPVIX	Partners Value	Pair Corr
0.79	BKMIX	Blackrock Multi Asset	Pair Corr
0.83	HBLTX	Hartford Balanced	Pair Corr
0.8	HBLRX	Hartford Balanced	Pair Corr
0.75	HBLSX	Hartford Balanced	Pair Corr
0.84	HBLVX	Hartford Balanced	Pair Corr
0.76	HBLYX	Hartford Balanced	Pair Corr
0.79	HBLCX	Hartford Balanced	Pair Corr
0.83	HBLIX	Hartford Balanced	Pair Corr
0.62	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.62	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.61	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.61	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.86	CLXRX	Columbia Large Cap	Pair Corr
0.68	UBVSX	Undiscovered Managers	Pair Corr
0.76	VSMVX	Vanguard Sp Small	Pair Corr
0.82	FAGIX	Fidelity Capital Income	Pair Corr
0.75	FIUIX	Fidelity Telecom And	Pair Corr
0.79	VMIAX	Vanguard Materials Index	Pair Corr

Moving against Weitz Mutual Fund

0.32	WCPNX	Core Plus Income	Pair Corr
0.31	WCPBX	Core Plus Income	Pair Corr
0.58	FMFFX	Fs Managed Futures	Pair Corr

Related Correlations Analysis

	SAFEX	WSHNX	WBALX	WCPBX	WCPNX	WVAIX	WVALX	WEFIX	WNTFX
SAFEX		0.6	0.66	-0.64	-0.65	0.68	0.66	0.57	-0.18	SAFEX
WSHNX	0.6		0.59	0.17	0.16	0.36	0.34	0.99	0.51	WSHNX
WBALX	0.66	0.59		-0.31	-0.32	0.86	0.76	0.57	0.13	WBALX
WCPBX	-0.64	0.17	-0.31		1.0	-0.49	-0.49	0.21	0.65	WCPBX
WCPNX	-0.65	0.16	-0.32	1.0		-0.49	-0.49	0.19	0.65	WCPNX
WVAIX	0.68	0.36	0.86	-0.49	-0.49		0.9	0.32	-0.11	WVAIX
WVALX	0.66	0.34	0.76	-0.49	-0.49	0.9		0.3	-0.1	WVALX
WEFIX	0.57	0.99	0.57	0.21	0.19	0.32	0.3		0.53	WEFIX
WNTFX	-0.18	0.51	0.13	0.65	0.65	-0.11	-0.1	0.53		WNTFX
	SAFEX	WSHNX	WBALX	WCPBX	WCPNX	WVAIX	WVALX	WEFIX	WNTFX

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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

WCPNX	+ 1.0	WCPBX
WEFIX	+ 0.99	WSHNX
WVALX	+ 0.9	WVAIX
WVAIX	+ 0.86	WBALX
WVALX	+ 0.76	WBALX
WVAIX	+ 0.68	SAFEX

High negative correlations

WCPNX	- 0.65	SAFEX
WCPBX	- 0.64	SAFEX
WVALX	- 0.49	WCPNX
WVAIX	- 0.49	WCPNX
WVALX	- 0.49	WCPBX
WVAIX	- 0.49	WCPBX

Risk-Adjusted Indicators

There is a big difference between Weitz Mutual Fund performing well and Weitz Balanced 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 Balanced'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
SAFEX	0.04	0.01	0.00	(0.35)	0.00	0.00	0.00	0.00	0.40
WSHNX	0.08	0.00	(1.02)	(0.34)	0.00	(0.14)	0.17	(0.17)	0.59
WBALX	0.26	(0.02)	(0.29)	0.07	0.23	(0.29)	0.52	(0.51)	1.80
WCPBX	0.20	(0.02)	0.00	0.39	0.00	0.00	0.41	(0.52)	1.14
WCPNX	0.20	(0.02)	0.00	0.40	0.00	0.00	0.41	(0.52)	1.14
WVAIX	0.60	(0.03)	(0.06)	0.09	0.68	(0.60)	1.13	(1.26)	4.73
WVALX	0.60	0.05	(0.08)	1.71	0.72	(0.60)	1.11	(1.24)	4.71
WEFIX	0.08	0.00	(1.14)	(0.27)	0.00	(0.13)	0.17	(0.08)	0.59
WNTFX	0.08	(0.01)	(0.48)	(0.11)	0.11	(0.14)	0.21	(0.10)	0.83

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