Core Plus Correlations

WCPNX Fund

USD 9.82 0.01 0.10%

The current 90-days correlation between Core Plus Income and Nebraska Tax Free Income is 0.22 (i.e., Modest 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

Poor diversification

The correlation between Core Plus Income and DJI is 0.75 (i.e., Poor 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 inflation.

Moving together with Core Mutual Fund

0.85	SAFEX	Weitz Ultra Short	Pair Corr
0.9	WSHNX	Short Duration Income	Pair Corr
1.0	WCPBX	Core Plus Income	Pair Corr
0.91	WEFIX	Short Duration Income	Pair Corr
0.9	WNTFX	Nebraska Tax Free	Pair Corr
0.96	DODIX	Dodge Income	Pair Corr
0.96	DOXIX	Dodge Cox Income	Pair Corr
0.97	FIWGX	Strategic Advisers	Pair Corr
0.93	MWTNX	Metropolitan West Total	Pair Corr
0.94	MWTSX	Metropolitan West Total	Pair Corr
0.99	PTTPX	Pimco Total Return	Pair Corr
0.99	PTRRX	Total Return	Pair Corr
0.99	PTRAX	Total Return	Pair Corr
0.99	PTTRX	Total Return	Pair Corr
0.98	PDBSX	Prudential Total Return	Pair Corr
0.79	ETV	Eaton Vance Tax	Pair Corr
0.86	NFJ	Virtus Dividend Interest	Pair Corr
0.86	EMLKX	Mfs Emerging Markets	Pair Corr
0.85	EMECX	Ashmore Emerging Markets	Pair Corr
0.82	TTOIX	Target 2060 Fund	Pair Corr
0.94	DIFDX	Mfs Diversified Income	Pair Corr

Moving against Core Mutual Fund

0.39

IIF

Morgan Stanley India

Pair Corr

Related Correlations Analysis

	SAFEX	WSHNX	WBALX	WBAIX	WVAIX	WVALX	WEFIX	WNTFX
SAFEX		0.99	0.72	0.72	0.6	0.6	0.98	0.92	SAFEX
WSHNX	0.99		0.72	0.72	0.59	0.59	0.99	0.95	WSHNX
WBALX	0.72	0.72		1.0	0.97	0.97	0.68	0.66	WBALX
WBAIX	0.72	0.72	1.0		0.97	0.97	0.69	0.66	WBAIX
WVAIX	0.6	0.59	0.97	0.97		1.0	0.55	0.53	WVAIX
WVALX	0.6	0.59	0.97	0.97	1.0		0.56	0.53	WVALX
WEFIX	0.98	0.99	0.68	0.69	0.55	0.56		0.95	WEFIX
WNTFX	0.92	0.95	0.66	0.66	0.53	0.53	0.95		WNTFX
	SAFEX	WSHNX	WBALX	WBAIX	WVAIX	WVALX	WEFIX	WNTFX

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
SAFEX	0.03	0.00	0.00	(0.50)	0.00	0.00	0.10	0.00	0.40
WSHNX	0.05	0.01	(0.58)	0.95	0.00	(0.14)	0.08	(0.08)	0.50
WBALX	0.35	0.06	(0.01)	1.23	0.19	(0.48)	0.72	(0.60)	4.27
WBAIX	0.35	0.06	(0.01)	1.14	0.18	(0.49)	0.72	(0.59)	4.32
WVAIX	1.20	0.32	0.32	0.49	0.52	(1.74)	1.62	(1.42)	30.99
WVALX	1.23	0.34	0.35	0.48	0.48	(1.79)	1.62	(1.41)	32.49
WEFIX	0.05	0.01	(0.58)	0.32	0.00	(0.14)	0.17	(0.08)	0.58
WNTFX	0.03	0.01	0.00	1.52	0.00	0.00	0.10	0.00	0.20

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