Metropolitan West Correlations

MWHYX Fund

USD 9.26 0.01 0.11%

The current 90-days correlation between Metropolitan West High and Lord Abbett Convertible is -0.06 (i.e., Good diversification). The correlation of Metropolitan West 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.

Metropolitan West Correlation With Market

Very good diversification

The correlation between Metropolitan West High and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Metropolitan West High and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Metropolitan West High. 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 manufacturing.

Moving together with Metropolitan Mutual Fund

0.89	MWCIX	Metropolitan West	Pair Corr
0.89	MWCRX	Metropolitan West	Pair Corr
0.75	MWCPX	Metropolitan West	Pair Corr
0.74	MWERX	Metwest Esg Securitized	Pair Corr
0.88	MWESX	Metwest Esg Securitized	Pair Corr
1.0	MWHIX	Metropolitan West High	Pair Corr
0.86	MWIIX	Metropolitan West	Pair Corr
0.89	MWIGX	Metropolitan West	Pair Corr
0.86	MWIMX	Metropolitan West	Pair Corr
0.88	MWISX	Metropolitan West	Pair Corr
0.86	MWLNX	Metropolitan West Low	Pair Corr
0.87	MWLDX	Metropolitan West Low	Pair Corr
0.9	MWSIX	Metropolitan West	Pair Corr
0.88	MWUIX	Metropolitan West Ultra	Pair Corr
0.88	MWUSX	Metropolitan West Ultra	Pair Corr
0.9	MWSTX	Metropolitan West	Pair Corr
0.88	MWTIX	Metropolitan West Total	Pair Corr
0.88	MWTNX	Metropolitan West Total	Pair Corr
0.73	MWTTX	Metropolitan West Total	Pair Corr
0.88	MWTSX	Metropolitan West Total	Pair Corr
0.88	MWTRX	Metropolitan West Total	Pair Corr
0.97	VWEAX	Vanguard High Yield	Pair Corr
0.96	VWEHX	Vanguard High Yield	Pair Corr
0.88	BHYCX	Blackrock Hi Yld	Pair Corr
0.91	BHYIX	Blackrock High Yield	Pair Corr
0.9	BHYSX	Blackrock Hi Yld	Pair Corr
0.9	BHYAX	Blackrock High Yield	Pair Corr
0.92	FAHHX	American Funds American	Pair Corr
0.92	FTAHX	American Funds American	Pair Corr
0.91	AHTFX	American High Income	Pair Corr
0.9	AHTCX	American High Income	Pair Corr

Related Correlations Analysis

	LCFYX	NCIDX	XAVKX	ARBOX	CCD	VAADX
LCFYX		0.87	0.84	-0.12	0.73	0.84	LCFYX
NCIDX	0.87		0.96	-0.39	0.82	0.98	NCIDX
XAVKX	0.84	0.96		-0.35	0.8	0.95	XAVKX
ARBOX	-0.12	-0.39	-0.35		-0.67	-0.52	ARBOX
CCD	0.73	0.82	0.8	-0.67		0.88	CCD
VAADX	0.84	0.98	0.95	-0.52	0.88		VAADX
	LCFYX	NCIDX	XAVKX	ARBOX	CCD	VAADX

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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

VAADX	+ 0.98	NCIDX
XAVKX	+ 0.96	NCIDX
VAADX	+ 0.95	XAVKX
VAADX	+ 0.88	CCD
NCIDX	+ 0.87	LCFYX
XAVKX	+ 0.84	LCFYX

High negative correlations

CCD	- 0.67	ARBOX
VAADX	- 0.52	ARBOX
ARBOX	- 0.39	NCIDX
ARBOX	- 0.35	XAVKX
ARBOX	- 0.12	LCFYX

Risk-Adjusted Indicators

There is a big difference between Metropolitan Mutual Fund performing well and Metropolitan West 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 Metropolitan West'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
LCFYX	0.66	(0.02)	(0.07)	1.12	(1.42)	3.20
NCIDX	0.59	(0.07)	1.31	1.03	(1.38)	3.23
XAVKX	0.53	(0.07)	0.77	0.90	(1.14)	2.56
ARBOX	0.05	0.02	(7.45)	0.09	0.00	0.18
CCD	0.79	(0.07)	(0.20)	1.41	(1.67)	7.13
VAADX	0.67	(0.11)	2.13	1.13	(1.60)	3.27

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