Core Plus Correlations

WCPNX Fund

USD 9.75 0.01 0.10%

The current 90-days correlation between Core Plus Income and American Beacon Small is 0.29 (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 0.77 (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 small area income & poverty estimates.

Moving together with Core Mutual Fund

0.78	SAFEX	Weitz Ultra Short	Pair Corr
0.85	WSHNX	Short Duration Income	Pair Corr
0.75	WBALX	Balanced Fund Balanced	Pair Corr
0.75	WBAIX	Weitz Balanced	Pair Corr
0.99	WCPBX	Core Plus Income	Pair Corr
0.65	WVAIX	Value Fund Value	Pair Corr
0.65	WVALX	Value Fund Value	Pair Corr
0.84	WEFIX	Short Duration Income	Pair Corr
0.83	WNTFX	Nebraska Tax Free	Pair Corr
0.69	WPOIX	Partners Iii Opportunity	Pair Corr
0.7	WPOPX	Partners Iii Opportunity	Pair Corr
0.69	WPVLX	Partners Value	Pair Corr
0.7	WPVIX	Partners Value	Pair Corr
0.9	DODIX	Dodge Income	Pair Corr
0.9	DOXIX	Dodge Cox Income	Pair Corr
0.92	FIWGX	Strategic Advisers	Pair Corr
0.71	MWTNX	Metropolitan West Total	Pair Corr
0.78	MWTSX	Metropolitan West Total	Pair Corr
0.98	PTTPX	Pimco Total Return	Pair Corr
0.98	PTRRX	Total Return	Pair Corr
0.98	PTRAX	Total Return	Pair Corr
0.98	PTTRX	Total Return	Pair Corr
0.93	PDBSX	Prudential Total Return	Pair Corr
0.75	VTSAX	Vanguard Total Stock	Pair Corr
0.73	VFIAX	Vanguard 500 Index	Pair Corr
0.76	VTSMX	Vanguard Total Stock	Pair Corr
0.76	VSMPX	Vanguard Total Stock	Pair Corr
0.76	VITSX	Vanguard Total Stock	Pair Corr
0.75	VSTSX	Vanguard Total Stock	Pair Corr
0.78	VTIAX	Vanguard Total Inter	Pair Corr
0.72	VFINX	Vanguard 500 Index	Pair Corr
0.73	VFFSX	Vanguard 500 Index	Pair Corr
0.82	PAAIX	All Asset Fund	Pair Corr
0.81	CMMSX	Catholic Responsible	Pair Corr
0.81	FRMZX	Franklin Missouri Tax	Pair Corr
0.77	TEMWX	Templeton World	Pair Corr
0.82	CRDSX	Catholic Responsible	Pair Corr

Related Correlations Analysis

	SCFYX	TRLVX	TGINX	PLFDX	PLFLX	PLFRX	SEFCX	DNP	CRATX	ABSYX
SCFYX		0.98	0.54	0.44	0.45	0.44	0.44	0.31	0.77	0.52	SCFYX
TRLVX	0.98		0.54	0.41	0.42	0.4	0.43	0.31	0.76	0.52	TRLVX
TGINX	0.54	0.54		0.81	0.79	0.8	0.91	0.29	0.85	0.9	TGINX
PLFDX	0.44	0.41	0.81		0.99	1.0	0.85	0.0	0.76	0.86	PLFDX
PLFLX	0.45	0.42	0.79	0.99		0.99	0.84	-0.03	0.76	0.85	PLFLX
PLFRX	0.44	0.4	0.8	1.0	0.99		0.85	0.01	0.75	0.85	PLFRX
SEFCX	0.44	0.43	0.91	0.85	0.84	0.85		0.12	0.84	0.86	SEFCX
DNP	0.31	0.31	0.29	0.0	-0.03	0.01	0.12		0.29	0.24	DNP
CRATX	0.77	0.76	0.85	0.76	0.76	0.75	0.84	0.29		0.82	CRATX
ABSYX	0.52	0.52	0.9	0.86	0.85	0.85	0.86	0.24	0.82		ABSYX
	SCFYX	TRLVX	TGINX	PLFDX	PLFLX	PLFRX	SEFCX	DNP	CRATX	ABSYX

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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

PLFRX	+ 1.0	PLFDX
PLFLX	+ 0.99	PLFDX
PLFRX	+ 0.99	PLFLX
TRLVX	+ 0.98	SCFYX
SEFCX	+ 0.91	TGINX
ABSYX	+ 0.9	TGINX

High negative correlations

DNP	- 0.03	PLFLX
DNP	- 0.0	PLFDX

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
SCFYX	0.14	(0.02)	0.00	(0.19)	0.00	0.00	0.21	(0.31)	0.73
TRLVX	0.15	(0.02)	0.00	(0.19)	0.00	0.00	0.31	(0.31)	0.72
TGINX	0.15	0.02	(0.05)	0.15	0.00	(0.21)	0.33	(0.23)	1.22
PLFDX	0.07	0.01	(0.20)	0.39	0.00	(0.24)	0.11	(0.11)	0.86
PLFLX	0.06	0.01	(0.15)	0.58	0.00	(0.36)	0.11	(0.11)	0.97
PLFRX	0.08	0.01	(0.18)	0.54	0.00	(0.21)	0.11	(0.11)	0.86
SEFCX	0.76	0.36	0.45	0.80	0.00	(0.98)	1.26	(1.11)	15.67
DNP	0.46	0.02	(0.01)	0.11	0.48	(0.55)	1.11	(0.91)	2.32
CRATX	0.10	(0.01)	(0.20)	(0.18)	0.12	(0.12)	0.21	(0.21)	0.62
ABSYX	0.83	0.08	0.09	0.10	0.80	(1.01)	2.33	(1.44)	5.20

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