Redwood Managed Correlations

RWMIX Fund

USD 13.91 0.01 0.07%

The current 90-days correlation between Redwood Managed Municipal and Transamerica Emerging Markets is 0.23 (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

Significant diversification

The correlation between Redwood Managed Municipal and DJI is 0.04 (i.e., Significant 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, which includes a position in Redwood Managed Municipal. 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

0.88	RWSNX	Redwood Systematic Macro	Pair Corr
0.88	RWSIX	Redwood Systematic Macro	Pair Corr
0.72	NHMAX	Nuveen High Yield	Pair Corr
0.76	NHCCX	Nuveen High Yield	Pair Corr
0.72	NHMRX	Nuveen High Yield	Pair Corr
0.72	NHMFX	Nuveen High Yield	Pair Corr
0.68	ABHFX	American High Income	Pair Corr
0.73	AHICX	American High Income	Pair Corr
0.76	AMHIX	American High Income	Pair Corr
0.73	GHYCX	Goldman Sachs High	Pair Corr
0.67	GHYAX	Goldman Sachs High	Pair Corr
0.72	ACTDX	Invesco High Yield	Pair Corr
0.67	KNPCX	Kinetics Paradigm	Pair Corr
0.65	KNPAX	Kinetics Paradigm	Pair Corr
0.7	LSHCX	Horizon Spin Off	Pair Corr
0.65	WWNPX	Kinetics Paradigm	Pair Corr
0.65	KNPYX	Kinetics Paradigm	Pair Corr
0.68	LSHUX	Horizon Spin Off	Pair Corr
0.73	LSHAX	Horizon Spin Off	Pair Corr

Moving against Redwood Mutual Fund

0.87	RRPSX	Rising Rates Opportunity	Pair Corr
0.6	USIAX	Ubs Ultra Short	Pair Corr
0.6	OOSNX	Oppenheimer Senior	Pair Corr
0.57	TRIZX	T Rowe Price	Pair Corr
0.46	CMIFX	Calvert Large Cap	Pair Corr

Related Correlations Analysis

	TEOJX	CDHIX	EMSLX	SEDAX	EPASX	PIEFX	SEKRX	DLENX
TEOJX		0.84	0.89	0.79	0.77	0.93	0.93	0.82	TEOJX
CDHIX	0.84		0.79	0.95	0.69	0.83	0.77	0.94	CDHIX
EMSLX	0.89	0.79		0.79	0.82	0.95	0.81	0.75	EMSLX
SEDAX	0.79	0.95	0.79		0.69	0.82	0.7	0.94	SEDAX
EPASX	0.77	0.69	0.82	0.69		0.86	0.8	0.61	EPASX
PIEFX	0.93	0.83	0.95	0.82	0.86		0.86	0.81	PIEFX
SEKRX	0.93	0.77	0.81	0.7	0.8	0.86		0.7	SEKRX
DLENX	0.82	0.94	0.75	0.94	0.61	0.81	0.7		DLENX
	TEOJX	CDHIX	EMSLX	SEDAX	EPASX	PIEFX	SEKRX	DLENX

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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
TEOJX	0.62	0.10	0.12	1.61	0.62	(0.71)	1.35	(0.88)	3.16
CDHIX	0.56	0.08	0.09	(0.71)	0.63	(0.60)	1.20	(0.93)	3.59
EMSLX	0.62	0.03	0.03	0.17	0.86	(0.60)	1.25	(1.34)	3.66
SEDAX	0.25	0.04	0.11	0.59	0.15	(0.32)	0.60	(0.36)	1.56
EPASX	0.44	0.00	0.00	0.04	0.51	(0.47)	0.96	(0.73)	2.69
PIEFX	0.72	0.07	0.06	0.35	0.93	(0.72)	1.46	(1.61)	4.27
SEKRX	0.64	0.06	0.06	1.37	0.77	(0.71)	1.52	(1.56)	3.71
DLENX	0.11	0.02	0.08	(4.63)	0.00	(0.16)	0.22	(0.11)	0.67

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