Westwood Market Correlations

WMNIX Fund

USD 9.75 0.01 0.10%

The current 90-days correlation between Westwood Market Neutral and Westwood Short Duration is 0.71 (i.e., Poor diversification). The correlation of Westwood Market 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.

Westwood Market Correlation With Market

Average diversification

The correlation between Westwood Market Neutral and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Westwood Market Neutral 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 Westwood Market Neutral. 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 Westwood Mutual Fund

0.99	WWACX	Westwood Alternative	Pair Corr
0.99	WMNUX	Westwood Market Neutral	Pair Corr
0.99	WMNAX	Westwood Alternative	Pair Corr
0.94	CVSCX	Calamos Market Neutral	Pair Corr
0.94	CVSIX	Calamos Market Neutral	Pair Corr
0.94	CVSOX	Calamos Market Neutral	Pair Corr
0.93	CMNIX	Calamos Market Neutral	Pair Corr

Moving against Westwood Mutual Fund

0.42	WWLCX	Westwood Quality Value	Pair Corr
0.41	WWLAX	Westwood Largecap Value	Pair Corr
0.4	WWMCX	Ultimus Managers Trust	Pair Corr
0.38	WHGLX	Westwood Largecap Value	Pair Corr
0.34	WHGCX	Westwood Quality Smallcap	Pair Corr
0.33	WWSYX	Westwood Quality Smallcap	Pair Corr
0.32	WHGSX	Westwood Smallcap Value	Pair Corr

Related Correlations Analysis

	WSDAX	WWACX	WWHCX	WWICX	WWIAX	WWLCX	WWLAX	WWMCX	WWSMX	WWSYX
WSDAX		0.61	1.0	0.89	0.89	0.33	0.34	0.33	0.71	0.47	WSDAX
WWACX	0.61		0.58	0.44	0.49	-0.37	-0.35	-0.34	0.22	-0.27	WWACX
WWHCX	1.0	0.58		0.89	0.9	0.38	0.39	0.37	0.73	0.51	WWHCX
WWICX	0.89	0.44	0.89		1.0	0.58	0.59	0.59	0.91	0.69	WWICX
WWIAX	0.89	0.49	0.9	1.0		0.54	0.55	0.55	0.89	0.65	WWIAX
WWLCX	0.33	-0.37	0.38	0.58	0.54		1.0	0.98	0.74	0.96	WWLCX
WWLAX	0.34	-0.35	0.39	0.59	0.55	1.0		0.98	0.75	0.96	WWLAX
WWMCX	0.33	-0.34	0.37	0.59	0.55	0.98	0.98		0.76	0.95	WWMCX
WWSMX	0.71	0.22	0.73	0.91	0.89	0.74	0.75	0.76		0.84	WWSMX
WWSYX	0.47	-0.27	0.51	0.69	0.65	0.96	0.96	0.95	0.84		WWSYX
	WSDAX	WWACX	WWHCX	WWICX	WWIAX	WWLCX	WWLAX	WWMCX	WWSMX	WWSYX

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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

WWHCX	+ 1.0	WSDAX
WWIAX	+ 1.0	WWICX
WWLAX	+ 1.0	WWLCX
WWMCX	+ 0.98	WWLCX
WWMCX	+ 0.98	WWLAX
WWSYX	+ 0.96	WWLCX

High negative correlations

WWLCX	- 0.37	WWACX
WWLAX	- 0.35	WWACX
WWMCX	- 0.34	WWACX
WWSYX	- 0.27	WWACX

Risk-Adjusted Indicators

There is a big difference between Westwood Mutual Fund performing well and Westwood Market 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 Westwood Market'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
WSDAX	0.24	0.01	(0.21)	0.60	0.27	(0.27)	0.50	(0.60)	1.59
WWACX	0.06	0.01	(0.51)	0.71	0.00	(0.12)	0.10	(0.10)	0.41
WWHCX	0.23	0.01	(0.22)	0.43	0.24	(0.29)	0.50	(0.50)	1.59
WWICX	0.32	0.01	(0.15)	0.33	0.41	(0.37)	0.76	(0.66)	2.74
WWIAX	0.31	0.02	(0.14)	0.39	0.40	(0.35)	0.76	(0.66)	2.65
WWLCX	0.67	(0.09)	0.00	(0.58)	0.00	0.00	1.10	(1.08)	9.11
WWLAX	0.67	(0.08)	0.00	(0.65)	0.00	0.00	1.19	(1.06)	8.84
WWMCX	0.66	(0.09)	0.00	(0.41)	0.00	0.00	1.08	(1.07)	7.28
WWSMX	0.76	0.03	(0.05)	0.32	0.91	(0.88)	1.57	(1.21)	8.46
WWSYX	0.93	(0.07)	0.00	(0.25)	0.00	0.00	1.61	(1.49)	12.38

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