Weitz Balanced Correlations

WBAIX Fund

USD 17.06 0.03 0.18%

The current 90-days correlation between Weitz Balanced and Stringer Growth Fund is 0.54 (i.e., Very weak 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

Weak diversification

The correlation between Weitz Balanced and DJI is 0.31 (i.e., Weak 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

1.0	WBALX	Balanced Fund Balanced	Pair Corr
0.99	WVAIX	Value Fund Value	Pair Corr
0.99	WVALX	Value Fund Value	Pair Corr
0.96	WPOIX	Partners Iii Opportunity	Pair Corr
0.95	WPOPX	Partners Iii Opportunity	Pair Corr
0.98	WPVLX	Partners Value	Pair Corr
0.98	WPVIX	Partners Value	Pair Corr
0.87	VWINX	Vanguard Wellesley Income	Pair Corr
0.87	VWIAX	Vanguard Wellesley Income	Pair Corr
0.69	BKMIX	Blackrock Multi Asset	Pair Corr
0.94	HBLTX	Hartford Balanced	Pair Corr
0.94	HBLRX	Hartford Balanced	Pair Corr
0.94	HBLSX	Hartford Balanced	Pair Corr
0.94	HBLVX	Hartford Balanced	Pair Corr
0.94	HBLYX	Hartford Balanced	Pair Corr
0.94	HBLCX	Hartford Balanced	Pair Corr
0.94	HBLIX	Hartford Balanced	Pair Corr
0.66	XDSMX	Dreyfus Strategic	Pair Corr
0.7	XNXJX	Nuveen New Jersey	Pair Corr
0.65	NXJ	Nuveen New Jersey	Pair Corr
0.74	PCF	Putnam High Income	Pair Corr
0.81	XNBHX	Neuberger Berman Int	Pair Corr

Moving against Weitz Mutual Fund

0.69	SAFEX	Weitz Ultra Short	Pair Corr
0.59	WSHNX	Short Duration Income	Pair Corr
0.59	WEFIX	Short Duration Income	Pair Corr
0.75	SFHIX	Shenkman Floating Rate	Pair Corr
0.72	AMFIX	Aama Income Fund	Pair Corr
0.71	CUSBX	Columbia Ultra Short	Pair Corr
0.58	CSOIX	Credit Suisse Strategic	Pair Corr
0.48	XNKGX	Nuveen Georgia Quality	Pair Corr
0.42	ADNAX	American Beacon Ark	Pair Corr
0.4	XPPRX	Voya Prime Rate	Pair Corr
0.35	PFN	Pimco Income Strategy	Pair Corr

Related Correlations Analysis

	SRGAX	HGOFX	UPDDX	JLGSX	LGLSX	EIPIX	TAAEX
SRGAX		-0.05	0.02	0.96	0.04	0.73	0.02	SRGAX
HGOFX	-0.05		0.85	0.2	0.95	0.11	0.91	HGOFX
UPDDX	0.02	0.85		0.22	0.79	0.08	0.74	UPDDX
JLGSX	0.96	0.2	0.22		0.29	0.79	0.27	JLGSX
LGLSX	0.04	0.95	0.79	0.29		0.33	0.97	LGLSX
EIPIX	0.73	0.11	0.08	0.79	0.33		0.36	EIPIX
TAAEX	0.02	0.91	0.74	0.27	0.97	0.36		TAAEX
	SRGAX	HGOFX	UPDDX	JLGSX	LGLSX	EIPIX	TAAEX

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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

TAAEX	+ 0.97	LGLSX
JLGSX	+ 0.96	SRGAX
LGLSX	+ 0.95	HGOFX
TAAEX	+ 0.91	HGOFX
UPDDX	+ 0.85	HGOFX
LGLSX	+ 0.79	UPDDX

High negative correlations

HGOFX

- 0.05

SRGAX

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
SRGAX	0.44	(0.04)	0.00	(0.12)	0.00	0.00	0.81	(1.03)	4.19
HGOFX	0.89	0.09	0.06	0.28	1.21	(0.86)	1.92	(1.93)	5.92
UPDDX	1.29	0.11	0.06	0.73	1.45	(1.41)	2.81	(2.59)	8.50
JLGSX	0.44	(0.02)	0.00	(0.06)	0.00	0.00	0.79	(0.84)	3.56
LGLSX	1.05	0.17	0.10	0.35	1.33	(1.04)	2.43	(2.37)	7.49
EIPIX	0.77	0.03	0.01	0.11	1.53	(0.74)	1.68	(1.09)	9.39
TAAEX	1.37	0.37	0.21	1.40	1.29	(1.60)	3.16	(1.92)	12.35

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