Old Westbury Correlations

OWSBX Fund

10.16 0.01 0.1%

The current 90-days correlation between Old Westbury Short and Ab Bond Inflation is 0.7 (i.e., Poor 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

Good diversification

The correlation between Old Westbury Short Term and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Old Westbury Short Term 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 Short Term. 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 bureau of labor statistics.

Moving together with Old Mutual Fund

0.82	OWCAX	Old Westbury California	Pair Corr
0.82	OWCIX	Old Westbury Credit	Pair Corr
0.8	OWFIX	Old Westbury Fixed	Pair Corr
0.78	OWMBX	Old Westbury Municipal	Pair Corr
0.8	OWNYX	Old Westbury New	Pair Corr
0.83	VBIRX	Vanguard Short Term	Pair Corr
0.84	VFSUX	Vanguard Short Term	Pair Corr
0.92	VFSIX	Vanguard Short Term	Pair Corr
0.93	VFSTX	Vanguard Short Term	Pair Corr
0.89	VBITX	Vanguard Short Term	Pair Corr
0.89	VBISX	Vanguard Short Term	Pair Corr
0.67	LALDX	Lord Abbett Short	Pair Corr
0.98	VSCSX	Vanguard Short Term	Pair Corr
0.69	LDLAX	Lord Abbett Short	Pair Corr
0.73	LDLRX	Lord Abbett Short	Pair Corr
0.79	PRCEX	Real Estate Securities	Pair Corr

Moving against Old Mutual Fund

0.34	OWACX	Old Westbury All	Pair Corr
0.48	BKPSX	Banks Ultrasector Profund Steady Growth	Pair Corr
0.43	DOXGX	Dodge Cox Stock	Pair Corr
0.38	LFROX	Lord Abbett Floating	Pair Corr
0.34	JGMCX	Janus Triton	Pair Corr
0.33	AMGOX	Alger Mid Cap	Pair Corr
0.32	SDSCX	Dreyfusthe Boston Pany	Pair Corr
0.32	RBVAX	Rbc Small Cap	Pair Corr
0.31	INDEX	Sp 500 Equal	Pair Corr
0.31	SVSPX	Ssga Sp 500	Pair Corr
0.48	JRBFX	Regional Bank	Pair Corr
0.38	FGLGX	Fidelity Series Growth	Pair Corr
0.35	MIGYX	Oppenheimer Main Street	Pair Corr
0.33	ANZAX	Allianzgi Convertible	Pair Corr

Related Correlations Analysis

	ANBIX	MFTFX	ABNOX	FODVX	LIFFX	ABNTX
ANBIX		0.63	1.0	0.92	0.5	1.0	ANBIX
MFTFX	0.63		0.64	0.66	-0.1	0.63	MFTFX
ABNOX	1.0	0.64		0.92	0.51	1.0	ABNOX
FODVX	0.92	0.66	0.92		0.27	0.92	FODVX
LIFFX	0.5	-0.1	0.51	0.27		0.5	LIFFX
ABNTX	1.0	0.63	1.0	0.92	0.5		ABNTX
	ANBIX	MFTFX	ABNOX	FODVX	LIFFX	ABNTX

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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

ABNOX	+ 1.0	ANBIX
ABNTX	+ 1.0	ANBIX
ABNTX	+ 1.0	ABNOX
FODVX	+ 0.92	ANBIX
FODVX	+ 0.92	ABNOX
ABNTX	+ 0.92	FODVX

High negative correlations

LIFFX

- 0.1

MFTFX

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
ANBIX	0.14	(0.01)	(0.50)	(0.42)	0.19	(0.17)	0.29	(0.29)	0.87
MFTFX	0.98	(0.15)	0.00	(0.09)	0.00	0.00	1.70	(1.95)	5.42
ABNOX	0.14	(0.01)	0.00	(0.42)	0.00	0.00	0.20	(0.30)	0.88
FODVX	0.19	(0.03)	0.00	(0.55)	0.00	0.00	0.30	(0.49)	1.17
LIFFX	0.12	0.00	(0.73)	0.04	0.06	(0.17)	0.34	(0.17)	0.77
ABNTX	0.14	(0.01)	(0.49)	(0.75)	0.19	(0.17)	0.29	(0.30)	0.88

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