Weitz Ultra Correlations

SAFEX Fund  USD 9.99  0.00  0.00%   
The correlation of Weitz Ultra 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.

Weitz Ultra Correlation With Market

Good diversification

The correlation between Weitz Ultra Short and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Weitz Ultra Short and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Weitz Ultra Short. 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 income.

Moving together with Weitz Mutual Fund

  0.96WSHNX Short Duration IncomePairCorr
  0.92WEFIX Short Duration IncomePairCorr
  0.99PTSPX Pimco Short TermPairCorr
  0.99PTSHX Short Term FundPairCorr
  0.99PSFAX Short Term FundPairCorr
  0.99PTSRX Short Term FundPairCorr
  0.99PSDNX Putnam Ultra ShortPairCorr
  0.99LUSNX Lord Abbett UltraPairCorr
  0.95VUBFX Vanguard Ultra-short-termPairCorr
  0.99PSDRX Putnam Short DurationPairCorr
  0.96PSDYX Putnam Short DurationPairCorr
  0.67BXECX Barings Emerging MarketsPairCorr
  0.71BXEIX Barings Emerging MarketsPairCorr
  0.69BXEAX Barings Emerging MarketsPairCorr
  0.91PFN Pimco Income StrategyPairCorr
  0.73HNCAX Hartford InternaPairCorr
  0.78JHYAX Janus High YieldPairCorr

Moving against Weitz Mutual Fund

  0.55WVALX Value Fund ValuePairCorr
  0.54WVAIX Value Fund ValuePairCorr
  0.53WPVLX Partners ValuePairCorr
  0.52WPVIX Partners ValuePairCorr
  0.51WBALX Balanced Fund BalancedPairCorr
  0.51WBAIX Weitz BalancedPairCorr
  0.5WPOIX Partners Iii OpportunityPairCorr
  0.47WPOPX Partners Iii OpportunityPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Weitz Mutual Fund performing well and Weitz Ultra 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 Weitz Ultra'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.