Riverpark/wedgewood Correlations

Mutual Funds . USA . 
Fund . Riverparkwedgewood Fund Retail
RWGFX Fund  USD 5.48  0.02  0.37%   
The current 90-days correlation between Riverpark/wedgewood and Riverpark Short Term is 0.06 (i.e., Significant diversification). The correlation of Riverpark/wedgewood 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.

Riverpark/wedgewood Correlation With Market

Very poor diversification

The correlation between Riverparkwedgewood Fund Retail and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Riverparkwedgewood Fund Retail 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 Riverparkwedgewood Fund Retail. 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 census.

Moving together with Riverpark/wedgewood Mutual Fund

  0.94RPHIX Riverpark Short TermPairCorr
  0.93RPHYX Riverpark Short TermPairCorr
  0.98RPNRX Riverpark/next CenturyPairCorr
  0.89RPNIX Riverpark/next CenturyPairCorr
  0.89RPNCX Riverpark/next CenturyPairCorr
  0.98RPNLX Riverpark/next CenturyPairCorr
  0.99RPXIX Riverpark Large GrowthPairCorr
  0.99RPXFX Riverpark Large GrowthPairCorr
  0.94RSIIX Riverpark StrategicPairCorr
  0.93RSIVX Riverpark StrategicPairCorr
  0.95RCRFX Riverpark Floating RatePairCorr
  0.95RCRIX Riverpark Floating RatePairCorr
  1.0RWGIX Riverpark/wedgewoodPairCorr
  0.98RLSIX Riverpark Long/shortPairCorr
  0.98RLSFX Riverpark Long/shortPairCorr
  0.99FAFGX American FundsPairCorr
  0.99FFAFX American FundsPairCorr
  0.99GFACX Growth FundPairCorr
  0.99GFAFX Growth FundPairCorr
  0.99AGTHX Growth FundPairCorr
  0.99CGFFX Growth FundPairCorr
  0.99CGFCX Growth FundPairCorr
  0.99CGFAX Growth FundPairCorr
  0.99CGFEX Growth FundPairCorr
  0.99RGAEX Growth FundPairCorr
  0.99VTSAX Vanguard Total StockPairCorr
  0.98VFIAX Vanguard 500 IndexPairCorr
  0.99VTSMX Vanguard Total StockPairCorr
  0.99VSMPX Vanguard Total StockPairCorr
  0.99VSTSX Vanguard Total StockPairCorr
  0.99VITSX Vanguard Total StockPairCorr
  0.98VFINX Vanguard 500 IndexPairCorr
  0.98VFFSX Vanguard 500 IndexPairCorr
  0.82VASGX Vanguard LifestrategyPairCorr
  0.65TAIAX American Funds TaxPairCorr
  0.86PCF Putnam High IncomePairCorr
  0.99PRMTX T Rowe PricePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Riverpark/wedgewood Mutual Fund performing well and Riverpark/wedgewood 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 Riverpark/wedgewood'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
RPHIX  0.04  0.00  0.00  0.63  0.00 
 0.00 
 0.10 
 0.00 
 0.10 
RPHYX  0.04  0.00  0.00  0.77  0.00 
 0.00 
 0.10 
(0.10)
 0.21 
RPNRX  0.77  0.01  0.01  0.13  1.12 
(0.78)
 1.67 
(1.93)
 5.44 
RPNIX  0.99  0.02  0.06  0.14  1.02 
(1.09)
 2.39 
(1.96)
 7.24 
RPNCX  1.00  0.02  0.06  0.14  1.06 
(1.10)
 2.40 
(1.97)
 7.28 
RPNLX  0.78  0.01  0.01  0.13  1.15 
(0.78)
 1.75 
(1.92)
 5.43 
RPXIX  0.61  0.06  0.04  0.21  0.72 
(0.65)
 1.38 
(1.64)
 4.10 
RPXFX  0.62  0.06  0.04  0.20  0.74 
(0.65)
 1.40 
(1.64)
 4.17 
RSIIX  0.07  0.01 (0.34) 0.36  0.00 
(0.14)
 0.23 
(0.12)
 1.03 
RSIVX  0.06  0.01  0.00  0.29  0.00 
 0.00 
 0.12 
 0.00 
 0.91 

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