Core Plus Correlations

WCPBX Fund

USD 9.60 0.01 0.10%

The current 90-days correlation between Core Plus Income and Artisan High Income is 0.14 (i.e., Average diversification). The correlation of Core Plus 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.

Core Plus Correlation With Market

Good diversification

The correlation between Core Plus Income and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Core Plus Income 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 Core Plus Income. 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 bureau of labor statistics.

Moving together with Core Mutual Fund

1.0	WCPNX	Core Plus Income	Pair Corr
0.65	WNTFX	Nebraska Tax Free	Pair Corr
0.96	MWTNX	Metropolitan West Total	Pair Corr
0.96	MWTSX	Metropolitan West Total	Pair Corr
0.99	PTTPX	Pimco Total Return	Pair Corr
0.99	PTRRX	Total Return	Pair Corr
0.96	PTRAX	Total Return	Pair Corr
0.99	PTTRX	Total Return	Pair Corr
0.96	FIWGX	Strategic Advisers	Pair Corr
0.99	DODIX	Dodge Income	Pair Corr
0.96	MWTIX	Metropolitan West Total	Pair Corr
0.99	MWTRX	Metropolitan West Total	Pair Corr

Moving against Core Mutual Fund

0.68	WPVLX	Partners Value	Pair Corr
0.68	WPVIX	Partners Value	Pair Corr
0.65	WPOPX	Partners Iii Opportunity	Pair Corr
0.64	SAFEX	Weitz Ultra Short	Pair Corr
0.64	WPOIX	Partners Iii Opportunity	Pair Corr
0.49	WVAIX	Value Fund Value	Pair Corr
0.49	WVALX	Value Fund Value	Pair Corr
0.31	WBALX	Balanced Fund Balanced	Pair Corr
0.31	WBAIX	Weitz Balanced	Pair Corr
0.72	VFIAX	Vanguard 500 Index	Pair Corr
0.72	VITSX	Vanguard Total Stock	Pair Corr
0.72	VFINX	Vanguard 500 Index	Pair Corr
0.72	ATAGX	Anchor Risk Managed	Pair Corr
0.71	VTSAX	Vanguard Total Stock	Pair Corr
0.71	VTSMX	Vanguard Total Stock	Pair Corr
0.71	VSMPX	Vanguard Total Stock	Pair Corr
0.71	VSTSX	Vanguard Total Stock	Pair Corr
0.7	VFFSX	Vanguard 500 Index	Pair Corr
0.66	FCYIX	Industrials Portfolio	Pair Corr
0.59	VWENX	Vanguard Wellington	Pair Corr
0.45	FSAHX	Fidelity Short Duration	Pair Corr
0.36	VDAFX	Dynamic Allocation	Pair Corr

Related Correlations Analysis

	ARTFX	PRSNX	DODLX	PTIAX	RSIVX
ARTFX		0.55	-0.4	-0.44	0.9	ARTFX
PRSNX	0.55		0.14	0.14	0.28	PRSNX
DODLX	-0.4	0.14		0.93	-0.69	DODLX
PTIAX	-0.44	0.14	0.93		-0.7	PTIAX
RSIVX	0.9	0.28	-0.69	-0.7		RSIVX
	ARTFX	PRSNX	DODLX	PTIAX	RSIVX

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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

PTIAX	+ 0.93	DODLX
RSIVX	+ 0.9	ARTFX
PRSNX	+ 0.55	ARTFX
RSIVX	+ 0.28	PRSNX
DODLX	+ 0.14	PRSNX
PTIAX	+ 0.14	PRSNX

High negative correlations

RSIVX	- 0.7	PTIAX
RSIVX	- 0.69	DODLX
PTIAX	- 0.44	ARTFX
DODLX	- 0.4	ARTFX

Risk-Adjusted Indicators

There is a big difference between Core Mutual Fund performing well and Core Plus 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 Core Plus' 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
ARTFX	0.12	0.04	(0.60)	(1.10)	0.00	(0.20)	0.33	(0.22)	1.01
PRSNX	0.12	0.00	(0.69)	0.06	0.11	(0.16)	0.30	(0.20)	0.90
DODLX	0.22	(0.05)	0.00	(0.78)	0.00	0.00	0.36	(0.54)	1.47
PTIAX	0.22	(0.02)	0.00	0.35	0.00	0.00	0.45	(0.55)	1.31
RSIVX	0.05	0.02	0.00	(3.46)	0.00	0.00	0.12	0.00	0.23

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