Old Westbury Correlations

OWCAX Fund

USD 9.61 0.01 0.10%

The current 90-days correlation between Old Westbury California and Massmutual Retiresmart Moderate is 0.38 (i.e., Weak diversification). The correlation of Old Westbury 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.

Old Westbury Correlation With Market

Significant diversification

The correlation between Old Westbury California and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Old Westbury California and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Old Westbury California. 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 nation.

Moving together with Old Mutual Fund

0.71	OWCIX	Old Westbury Credit	Pair Corr
0.82	OWFIX	Old Westbury Fixed	Pair Corr
0.96	OWMBX	Old Westbury Municipal	Pair Corr
0.96	OWNYX	Old Westbury New	Pair Corr
0.75	OWSBX	Old Westbury Short	Pair Corr
0.97	VCAIX	Vanguard California	Pair Corr
0.94	VCADX	Vanguard California	Pair Corr
0.95	MKCMX	Blackrock California	Pair Corr
0.96	MACMX	Brf Clf Mpl	Pair Corr
0.94	MDCMX	Brf Clf Mplop	Pair Corr
0.92	MECMX	Brf Clf Mpl	Pair Corr
0.93	MFCMX	Brf Clf Mpl	Pair Corr
0.97	BCIAX	California Intermediate-ter	Pair Corr
0.96	BCIYX	California Intermediate	Pair Corr
0.98	BCITX	California Intermediate-ter	Pair Corr
0.77	ADVNX	Advisory Research	Pair Corr
0.83	MFAAX	American Funds Mortgage	Pair Corr
0.72	MXGBX	Great West Templeton	Pair Corr
0.96	THMCX	Thornburg Intermediate	Pair Corr
0.75	TRSHX	Tiaa-cref Short-term	Pair Corr
0.9	THMIX	Thornburg Intermediate	Pair Corr
0.85	THCAX	Thornburg Core Plus	Pair Corr
0.77	PSHYX	Pioneer Short Term	Pair Corr
0.86	SPUBX	Symmetry Panoramic Fixed	Pair Corr

Moving against Old Mutual Fund

0.61	SMPIX	Semiconductor Ultrasector	Pair Corr
0.6	SMPSX	Semiconductor Ultrasector	Pair Corr

Related Correlations Analysis

	MRMTX	ATTIX	BTRIX	PGFCX	TBLDX	JABKX	FHRVX	JLMOX
MRMTX		0.96	0.58	0.9	0.89	0.99	0.87	0.99	MRMTX
ATTIX	0.96		0.45	0.86	0.91	0.95	0.81	0.95	ATTIX
BTRIX	0.58	0.45		0.74	0.47	0.57	0.82	0.58	BTRIX
PGFCX	0.9	0.86	0.74		0.93	0.89	0.97	0.9	PGFCX
TBLDX	0.89	0.91	0.47	0.93		0.89	0.88	0.89	TBLDX
JABKX	0.99	0.95	0.57	0.89	0.89		0.88	1.0	JABKX
FHRVX	0.87	0.81	0.82	0.97	0.88	0.88		0.88	FHRVX
JLMOX	0.99	0.95	0.58	0.9	0.89	1.0	0.88		JLMOX
	MRMTX	ATTIX	BTRIX	PGFCX	TBLDX	JABKX	FHRVX	JLMOX

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Risk-Adjusted Indicators

There is a big difference between Old Mutual Fund performing well and Old Westbury 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 Old Westbury'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
MRMTX	0.33	(0.02)	0.00	(0.06)	0.00	0.00	0.68	(0.68)	2.47
ATTIX	0.33	(0.03)	0.00	(0.06)	0.00	0.00	0.63	(0.87)	1.93
BTRIX	0.20	0.01	0.01	(0.08)	0.19	(0.26)	0.44	(0.44)	1.22
PGFCX	0.30	(0.01)	(0.02)	0.05	0.39	(0.34)	0.67	(0.48)	1.75
TBLDX	0.38	(0.01)	0.00	0.08	0.00	0.00	0.70	(0.80)	2.12
JABKX	0.31	(0.01)	(0.02)	(0.01)	0.40	(0.37)	0.64	(0.54)	1.75
FHRVX	0.29	0.00	0.00	(0.03)	0.38	(0.30)	0.56	(0.61)	1.71
JLMOX	0.32	0.00	(0.01)	(0.01)	0.43	(0.36)	0.64	(0.63)	1.75

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