Redwood Managed Correlations

RWMIX Fund

USD 13.79 0.03 0.22%

The current 90-days correlation between Redwood Managed Municipal and Ftufox is 0.28 (i.e., Modest diversification). The correlation of Redwood Managed 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 Managed Correlation With Market

Good diversification

The correlation between Redwood Managed Municipal and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Redwood Managed Municipal and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios. 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 Redwood Mutual Fund

0.61	NHMAX	Nuveen High Yield	Pair Corr
0.62	FSMMX	Fs Multi Strategy	Pair Corr

Moving against Redwood Mutual Fund

0.46

USPIX

Profunds Ultrashort

Pair Corr

Related Correlations Analysis

	FTUFOX	WABMSX	FZNOPX	EICVX	FLAKQX	DIHRX	BXECX
FTUFOX		0.15	-0.33	0.78	0.17	0.78	0.77	FTUFOX
WABMSX	0.15		0.72	0.49	0.9	0.37	0.22	WABMSX
FZNOPX	-0.33	0.72		0.03	0.55	-0.2	-0.31	FZNOPX
EICVX	0.78	0.49	0.03		0.39	0.94	0.89	EICVX
FLAKQX	0.17	0.9	0.55	0.39		0.31	0.2	FLAKQX
DIHRX	0.78	0.37	-0.2	0.94	0.31		0.95	DIHRX
BXECX	0.77	0.22	-0.31	0.89	0.2	0.95		BXECX
	FTUFOX	WABMSX	FZNOPX	EICVX	FLAKQX	DIHRX	BXECX

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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

BXECX	+ 0.95	DIHRX
DIHRX	+ 0.94	EICVX
FLAKQX	+ 0.9	WABMSX
BXECX	+ 0.89	EICVX
EICVX	+ 0.78	FTUFOX
DIHRX	+ 0.78	FTUFOX

High negative correlations

FZNOPX	- 0.33	FTUFOX
BXECX	- 0.31	FZNOPX
DIHRX	- 0.2	FZNOPX

Risk-Adjusted Indicators

There is a big difference between Redwood Mutual Fund performing well and Redwood Managed 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 Managed'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
FTUFOX	0.10	0.00	0.02	0.00	0.05	(0.11)	0.20	(0.19)	0.60
WABMSX	0.61	0.03	0.04	(0.22)	0.78	(0.63)	1.38	(1.29)	3.66
FZNOPX	0.77	0.00	0.00	0.04	0.85	(0.90)	1.93	(1.63)	3.75
EICVX	0.56	0.09	0.13	(0.91)	0.56	(0.61)	1.12	(0.85)	2.93
FLAKQX	0.83	0.00	0.00	(0.04)	1.12	(0.93)	1.75	(2.40)	4.80
DIHRX	0.58	0.12	0.17	(0.80)	0.53	(0.70)	1.51	(0.99)	3.80
BXECX	0.19	0.06	0.27	(1.09)	0.00	(0.33)	0.55	(0.27)	1.21

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