Redwood Systematic Correlations

Mutual Funds . USA . 
Fund . Redwood Systematic Macro
RWSIX Fund  USD 16.68  0.09  0.54%   
The current 90-days correlation between Redwood Systematic Macro and Fidelity Real Estate is 0.58 (i.e., Very weak diversification). The correlation of Redwood Systematic 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 Systematic Correlation With Market

Poor diversification

The correlation between Redwood Systematic Macro and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Redwood Systematic Macro 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 Systematic Macro. 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

  1.0RWSNX Redwood Systematic MacroPairCorr

Moving against Redwood Mutual Fund

  0.52PAUPX Pimco All AssetPairCorr
  0.52PAUIX Pimco All AssetPairCorr
  0.48PATRX Pimco All AssetPairCorr
  0.48PASAX All Asset FundPairCorr
  0.47RWIIX Redwood AlphafactorPairCorr
  0.47RWINX Redwood AlphafactorPairCorr
  0.46PAALX All Asset FundPairCorr
  0.46PAAIX All Asset FundPairCorr
  0.46PALPX Pimco All AssetPairCorr
  0.46PAANX Pimco All AssetPairCorr
  0.44PASCX All Asset FundPairCorr
  0.37FSMMX Fs Multi StrategyPairCorr
  0.36RWMNX Redwood Managed MunicipalPairCorr
  0.35RWDIX Redwood Managed VolaPairCorr
  0.35RWDYX Redwood Managed VolaPairCorr
  0.32RWDNX Redwood Managed VolaPairCorr
  0.77URPSX Ultrabear ProfundPairCorr
  0.74FTIAX Federated Short TermPairCorr
  0.72GILDX Guggenheim LimitedPairCorr
  0.68LIFTX Lord Abbett InflationPairCorr
  0.64PDI Pimco Dynamic Income Sell-off TrendPairCorr
  0.62MSTUX Mainstay Mackay ShortPairCorr
  0.62FCBCX Nuveen Strategic IncomePairCorr
  0.6SIEYX International EquityPairCorr
  0.6PRCIX T Rowe PricePairCorr
  0.56BTMPX Ishares Msci EafePairCorr
  0.56BTMKX Blackrock InternationalPairCorr
  0.56MDIIX Blackrock Intern IndexPairCorr
  0.56EKWYX Wells Fargo AdvantagePairCorr
  0.48PISHX Cohen Steers PreferredPairCorr
  0.38DCXIX Catalystmillburn DynPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Redwood Mutual Fund performing well and Redwood Systematic 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 Systematic'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.

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