Boyd Watterson Correlations

BWDTX Fund

USD 9.98 0.01 0.10%

The current 90-days correlation between Boyd Watterson and Dodge Stock Fund is 0.22 (i.e., Modest diversification). The correlation of Boyd Watterson 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.

Boyd Watterson Correlation With Market

Average diversification

The correlation between Boyd Watterson Limited and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Boyd Watterson Limited and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Boyd Watterson Limited. 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 estimate.

Moving together with Boyd Mutual Fund

0.99	BWDIX	Boyd Watterson	Pair Corr
0.69	PIMIX	Pimco Income	Pair Corr
0.87	LBNDX	Lord Abbett Bond	Pair Corr
0.73	FSTAX	Fidelity Advisor Str	Pair Corr
0.72	FSRIX	Fidelity Advisor Str	Pair Corr
0.68	VTSAX	Vanguard Total Stock	Pair Corr
0.68	VFIAX	Vanguard 500 Index	Pair Corr
0.68	VTSMX	Vanguard Total Stock	Pair Corr
0.68	VSMPX	Vanguard Total Stock	Pair Corr
0.68	VSTSX	Vanguard Total Stock	Pair Corr
0.68	VITSX	Vanguard Total Stock	Pair Corr
0.68	VFINX	Vanguard 500 Index	Pair Corr
0.68	VFFSX	Vanguard 500 Index	Pair Corr
0.65	SROCX	Calamos Antetokounmpo	Pair Corr
0.63	AAESX	Invesco Growth Allocation	Pair Corr
0.7	NUESX	Northern Quality Esg	Pair Corr
0.61	BLPFX	American Funds Balanced	Pair Corr
0.72	JRLZX	Retirement Living Through	Pair Corr
0.79	TAGRX	Fundamental Large Cap	Pair Corr
0.65	MLFAX	Mfs Lifetime 2040	Pair Corr
0.63	MUAIX	Ultra Short Income	Pair Corr
0.71	RFGTX	American Funds 2040	Pair Corr
0.68	MAMPX	Mfs Series Trust	Pair Corr

Related Correlations Analysis

	BWDTX	DODGX	FMAGX	AMEIX	GMAWX	GOVXX	MDCPX	FIUIX	FCNTX
BWDTX		0.18	0.24	0.67	0.29	-0.02	0.69	0.35	0.4	BWDTX
DODGX	0.18		0.85	0.56	0.89	0.28	0.57	0.69	0.79	DODGX
FMAGX	0.24	0.85		0.72	0.76	0.32	0.57	0.57	0.95	FMAGX
AMEIX	0.67	0.56	0.72		0.49	0.45	0.58	0.5	0.86	AMEIX
GMAWX	0.29	0.89	0.76	0.49		0.08	0.67	0.6	0.69	GMAWX
GOVXX	-0.02	0.28	0.32	0.45	0.08		0.03	0.31	0.43	GOVXX
MDCPX	0.69	0.57	0.57	0.58	0.67	0.03		0.44	0.6	MDCPX
FIUIX	0.35	0.69	0.57	0.5	0.6	0.31	0.44		0.61	FIUIX
FCNTX	0.4	0.79	0.95	0.86	0.69	0.43	0.6	0.61		FCNTX
	BWDTX	DODGX	FMAGX	AMEIX	GMAWX	GOVXX	MDCPX	FIUIX	FCNTX

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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

FCNTX	+ 0.95	FMAGX
GMAWX	+ 0.89	DODGX
FCNTX	+ 0.86	AMEIX
FMAGX	+ 0.85	DODGX
FCNTX	+ 0.79	DODGX
GMAWX	+ 0.76	FMAGX

High negative correlations

GOVXX

- 0.02

BWDTX

Risk-Adjusted Indicators

There is a big difference between Boyd Mutual Fund performing well and Boyd Watterson 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 Boyd Watterson'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
BWDTX	0.07	(0.01)	(0.23)	(0.41)	0.07	(0.13)	0.20	(0.20)	0.50
DODGX	0.59	(0.12)	0.00	(0.08)	0.00	0.00	0.94	(0.94)	10.49
FMAGX	0.68	(0.04)	0.00	(0.02)	0.00	0.00	1.33	(2.10)	5.81
AMEIX	0.55	0.05	0.05	0.08	0.76	(0.56)	1.10	(0.96)	5.36
GMAWX	0.82	(0.14)	0.00	(0.09)	0.00	0.00	1.57	(1.67)	10.59
GOVXX	0.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.01
MDCPX	0.27	(0.04)	0.00	(0.09)	0.00	0.00	0.73	(0.58)	2.66
FIUIX	0.73	0.02	0.00	0.07	0.92	(0.72)	1.46	(1.60)	4.35
FCNTX	0.65	(0.01)	(0.01)	0.01	1.22	(0.56)	1.29	(2.00)	5.65

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