Metropolitan West Correlations

Mutual Funds . USA . 
Fund . Metropolitan West Investment
MWIGX Fund  USD 7.78  0.02  0.26%   
The current 90-days correlation between Metropolitan West and Metropolitan West Alpha is 0.02 (i.e., Significant 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

Significant diversification

The correlation between Metropolitan West Investment and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Metropolitan West Investment 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 Investment. 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 price.

Moving together with Metropolitan Mutual Fund

  0.89MWCIX Metropolitan WestPairCorr
  0.88MWCSX Metropolitan West PoratePairCorr
  0.9MWCRX Metropolitan WestPairCorr
  0.79MWCPX Metropolitan WestPairCorr
  0.98MWERX Metwest Esg SecuritizedPairCorr
  0.96MWESX Metwest Esg SecuritizedPairCorr
  0.99MWIIX Metropolitan WestPairCorr
  0.99MWIMX Metropolitan WestPairCorr
  1.0MWISX Metropolitan WestPairCorr
  0.99MWLIX Metropolitan West LowPairCorr
  0.99MWLNX Metropolitan West LowPairCorr
  0.99MWLDX Metropolitan West LowPairCorr
  0.91MWSIX Metropolitan WestPairCorr
  0.8MWUIX Metropolitan West UltraPairCorr
  0.77MWUSX Metropolitan West UltraPairCorr
  0.91MWSTX Metropolitan WestPairCorr
  0.99MWTIX Metropolitan West TotalPairCorr
  0.99MWTNX Metropolitan West TotalPairCorr
  0.99MWTTX Metropolitan West TotalPairCorr
  0.99MWTSX Metropolitan West TotalPairCorr
  0.99MWTRX Metropolitan West TotalPairCorr
  0.99PTTPX Pimco Total ReturnPairCorr
  0.99PTRRX Total ReturnPairCorr
  0.99PTRAX Total ReturnPairCorr
  0.98PTTRX Total ReturnPairCorr
  0.98FIWGX Strategic AdvisersPairCorr
  0.99DODIX Dodge IncomePairCorr

Moving against Metropolitan Mutual Fund

  0.84MWATX Metropolitan West AlphaPairCorr
  0.84MWFRX Metropolitan WestPairCorr
  0.56MWCBX Metropolitan West PoratePairCorr
  0.75LSHUX Horizon Spin OffPairCorr
  0.74SMPSX Semiconductor UltrasectorPairCorr
  0.66EMO Clearbridge Energy MlpPairCorr
  0.59ARSMX Amg River RoadPairCorr
  0.56OSPPX Oppenheimer Steelpath MlpPairCorr
  0.56SPMPX Invesco Steelpath MlpPairCorr
  0.56SPMJX Invesco Steelpath MlpPairCorr
  0.56MLPNX Oppenheimer Steelpath MlpPairCorr
  0.56MLPLX Oppenheimer Steelpath MlpPairCorr
  0.56MLPMX Oppenheimer Steelpath MlpPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
MWCRX
+ 1.0
MWCIX
MWESX
+ 0.99
MWERX
MWESX
+ 0.95
MWCIX
MWESX
+ 0.95
MWCRX
MWERX
+ 0.94
MWCRX
MWCPX
+ 0.93
MWCIX
  
High negative correlations   
MWCSX
- 0.88
MWATX
MWERX
- 0.84
MWATX
MWESX
- 0.79
MWATX
MWCRX
- 0.69
MWATX
MWCIX
- 0.68
MWATX
MWCSX
- 0.51
MWCBX

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MWATX  0.23  0.04 (0.05) 0.25  0.00 
(0.57)
 0.78 
(0.44)
 2.89 
MWCBX  11.81  2.37  14.21  0.15  0.00 
(23.74)
 0.84 
(0.55)
 396.69 
MWCIX  0.14 (0.02) 0.00 (1.14) 0.00 
 0.00 
 0.29 
(0.29)
 0.97 
MWCSX  0.11 (0.04) 0.00 (5.27) 0.00 
 0.00 
 0.32 
(0.43)
 1.28 
MWCRX  0.14 (0.02) 0.00 (1.10) 0.00 
 0.00 
 0.29 
(0.29)
 0.97 
MWCPX  0.13 (0.01) 0.00 (2.24) 0.00 
 0.00 
 0.39 
(0.29)
 0.88 
MWFEX  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
 0.00 
 0.00 
MWERX  0.25 (0.05) 0.00  4.99  0.00 
 0.00 
 0.46 
(0.70)
 1.51 
MWESX  0.27 (0.04) 0.00  1.93  0.00 
 0.00 
 0.81 
(0.58)
 1.64 
MWHIX  0.09 (0.01)(0.58)(0.38) 0.08 
(0.17)
 0.21 
(0.21)
 0.64 

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