Old Westbury Correlations

OWCIX Fund

USD 7.95 0.02 0.25%

The current 90-days correlation between Old Westbury Credit and Federated Clover Small is 0.41 (i.e., Very 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

Modest diversification

The correlation between Old Westbury Credit and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Old Westbury Credit 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 Credit. 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 Old Mutual Fund

0.87	OWCAX	Old Westbury California	Pair Corr
0.97	OWFIX	Old Westbury Fixed	Pair Corr
0.86	OWMBX	Old Westbury Municipal	Pair Corr
0.89	OWNYX	Old Westbury New	Pair Corr
0.91	OWSBX	Old Westbury Short	Pair Corr
0.88	PONAX	Pimco Income	Pair Corr
0.89	PONCX	Pimco Income	Pair Corr
0.88	PIPNX	Pimco Income	Pair Corr
0.88	PONRX	Pimco Income	Pair Corr
0.88	PONPX	Pimco Incme Fund	Pair Corr
0.87	PIINX	Pimco Income	Pair Corr
0.88	PIMIX	Pimco Income	Pair Corr
0.81	LBNDX	Lord Abbett Bond	Pair Corr
0.82	FSTAX	Fidelity Advisor Str	Pair Corr
0.81	FSRIX	Fidelity Advisor Str	Pair Corr
0.86	BRUFX	Bruce Fund Bruce	Pair Corr
0.62	KF	Korea Closed	Pair Corr
0.92	PDSQX	Prudential Short Duration	Pair Corr
0.64	DODWX	Dodge Global Stock	Pair Corr
0.84	SSTHX	Wells Fargo Short	Pair Corr
0.92	TYEFX	American Funds Tax	Pair Corr
0.82	PRREX	Putnam Absolute Return	Pair Corr
0.8	LOMAX	Edgar Lomax Value	Pair Corr
0.87	NVG	Nuveen Amt Free	Pair Corr
0.92	TAIBX	Prudential E Bond	Pair Corr
0.71	VDMCX	Virtus Kar Developing	Pair Corr
0.9	MWTRX	Metropolitan West Total	Pair Corr
0.91	RBFCX	Bond Fund	Pair Corr

Moving against Old Mutual Fund

0.37

SPGSX

State Street Premier

Pair Corr

Related Correlations Analysis

	VSFSX	CCMSX	QSERX	MSSGX	TVOYX	OWSMX	HSCVX
VSFSX		0.0	0.89	0.93	0.99	0.8	0.99	VSFSX
CCMSX	0.0		0.0	0.0	0.0	0.0	0.0	CCMSX
QSERX	0.89	0.0		0.85	0.88	0.8	0.89	QSERX
MSSGX	0.93	0.0	0.85		0.89	0.7	0.91	MSSGX
TVOYX	0.99	0.0	0.88	0.89		0.82	0.99	TVOYX
OWSMX	0.8	0.0	0.8	0.7	0.82		0.8	OWSMX
HSCVX	0.99	0.0	0.89	0.91	0.99	0.8		HSCVX
	VSFSX	CCMSX	QSERX	MSSGX	TVOYX	OWSMX	HSCVX

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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

TVOYX	+ 0.99	VSFSX
HSCVX	+ 0.99	VSFSX
HSCVX	+ 0.99	TVOYX
MSSGX	+ 0.93	VSFSX
HSCVX	+ 0.91	MSSGX
QSERX	+ 0.89	VSFSX

High negative correlations

HSCVX	- 0.0	CCMSX
OWSMX	- 0.0	CCMSX
TVOYX	- 0.0	CCMSX
MSSGX	- 0.0	CCMSX
QSERX	- 0.0	CCMSX
CCMSX	- 0.0	VSFSX

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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
VSFSX	0.87	(0.10)	(0.17)	1.48	(2.07)	5.18
CCMSX	0.00	0.00	0.00	0.00	0.00	0.00
QSERX	1.15	(0.23)	(0.21)	1.83	(2.52)	12.07
MSSGX	1.76	(0.12)	(0.16)	3.70	(3.91)	10.50
TVOYX	0.84	(0.10)	(0.17)	1.43	(1.95)	4.01
OWSMX	0.67	(0.06)	(0.17)	1.19	(1.37)	3.89
HSCVX	0.79	(0.09)	(0.18)	1.42	(1.78)	3.38

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