Redwood Alphafactor Correlations

RWINX Fund

USD 13.54 0.08 0.59%

The current 90-days correlation between Redwood Alphafactor and Lord Abbett Short is 0.33 (i.e., Weak diversification). The correlation of Redwood Alphafactor 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.

Redwood Alphafactor Correlation With Market

Weak diversification

The correlation between Redwood Alphafactor Tactical and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Redwood Alphafactor Tactical 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 Redwood Alphafactor Tactical. 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 board of governors.

Moving together with Redwood Mutual Fund

1.0	RWIIX	Redwood Alphafactor	Pair Corr
0.72	RWMIX	Redwood Managed Municipal	Pair Corr
0.73	PAALX	All Asset Fund	Pair Corr
0.73	PATRX	Pimco All Asset	Pair Corr
0.72	PAAIX	All Asset Fund	Pair Corr
0.72	PALPX	Pimco All Asset	Pair Corr
0.73	PASAX	All Asset Fund	Pair Corr
0.75	PASCX	All Asset Fund	Pair Corr
0.72	PAANX	Pimco All Asset	Pair Corr
0.77	PAUPX	Pimco All Asset	Pair Corr
0.77	PAUIX	Pimco All Asset	Pair Corr
0.93	ABRIX	Invesco Balanced Risk	Pair Corr

Moving against Redwood Mutual Fund

0.53	FLOAX	Power Floating Rate	Pair Corr
0.47	CSQIX	Credit Suisse Multia	Pair Corr
0.43	LETRX	Voya Russia Fund	Pair Corr
0.32	KMKCX	Kinetics Market Oppo	Pair Corr

Related Correlations Analysis

	LSYFX	BXHCX	PHDTX	PHYZX	BUFHX	PYRLX
LSYFX		0.87	0.88	0.87	0.89	0.86	LSYFX
BXHCX	0.87		0.94	0.81	0.73	0.94	BXHCX
PHDTX	0.88	0.94		0.78	0.86	0.98	PHDTX
PHYZX	0.87	0.81	0.78		0.72	0.79	PHYZX
BUFHX	0.89	0.73	0.86	0.72		0.81	BUFHX
PYRLX	0.86	0.94	0.98	0.79	0.81		PYRLX
	LSYFX	BXHCX	PHDTX	PHYZX	BUFHX	PYRLX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Redwood Mutual Fund performing well and Redwood Alphafactor 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 Redwood Alphafactor'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
LSYFX	0.14	0.02	(0.09)	0.28	0.00	(0.24)	0.52	(0.20)	1.43
BXHCX	0.12	0.01	(0.12)	(2.79)	0.06	(0.20)	0.37	(0.25)	1.11
PHDTX	0.11	0.01	(0.13)	0.27	0.05	(0.14)	0.22	(0.23)	0.79
PHYZX	0.14	0.01	(0.11)	0.22	0.00	(0.30)	0.42	(0.21)	0.84
BUFHX	0.09	0.03	(0.08)	2.04	0.00	(0.13)	0.19	(0.09)	0.66
PYRLX	0.13	0.01	(0.11)	0.30	0.06	(0.20)	0.31	(0.31)	0.95

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