Ridgeworth Ceredex Correlations

SCETX Fund

USD 7.20 0.05 0.69%

The current 90-days correlation between Ridgeworth Ceredex Small and Rationalpier 88 Convertible is -0.01 (i.e., Good diversification). The correlation of Ridgeworth Ceredex 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.

Ridgeworth Ceredex Correlation With Market

Very weak diversification

The correlation between Ridgeworth Ceredex Small and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ridgeworth Ceredex Small 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 Ridgeworth Ceredex Small. 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 estimate.

Moving together with Ridgeworth Mutual Fund

0.89	SAGAX	Ridgeworth Innovative Steady Growth	Pair Corr
0.94	SAMVX	Ridgeworth Ceredex Mid	Pair Corr
1.0	SASVX	Ridgeworth Ceredex Small	Pair Corr
0.95	PXQSX	Virtus Kar Small	Pair Corr
0.91	SSTFX	Virtus Kar Capital	Pair Corr
0.92	PXSGX	Virtus Kar Small	Pair Corr
0.86	STCZX	Ridgeworth Silvant Large	Pair Corr
0.86	STCAX	Ridgeworth Silvant Large	Pair Corr
0.86	STCIX	Ridgeworth Silvant Large	Pair Corr
0.99	STCEX	Ridgeworth Ceredex Small	Pair Corr

Moving against Ridgeworth Mutual Fund

0.71	SSAGX	Virtus Seix Government	Pair Corr
0.65	VMSSX	Virtus Multi Sector	Pair Corr
0.65	HIBIX	Virtus Low Duration	Pair Corr
0.63	SAMFX	Ridgeworth Seix Total	Pair Corr
0.63	SAMZX	Ridgeworth Seix Total	Pair Corr
0.59	SAVYX	Virtus Bond Fund	Pair Corr
0.58	SAVAX	Virtus Bond Fund	Pair Corr
0.57	SAVCX	Virtus Bond Fund	Pair Corr
0.54	VMSAX	Vanguard Multi Sector	Pair Corr
0.32	PGIUX	Virtus Global Infras	Pair Corr
0.67	STIGX	Ridgeworth Seix E	Pair Corr
0.67	HIMZX	Virtus Low Duration	Pair Corr
0.64	STGIX	Ridgeworth Seix E	Pair Corr
0.63	STGZX	Ridgeworth Seix E	Pair Corr
0.63	PIMSX	Virtus Multi Sector	Pair Corr
0.58	PIPTX	Virtus Kar Global	Pair Corr
0.44	HIEMX	Virtus Emerging Markets	Pair Corr
0.43	PICEX	Virtus Emerging Markets	Pair Corr
0.33	PGUCX	Virtus Global Infras	Pair Corr
0.33	STTBX	Ridgeworth Seix Inve	Pair Corr
0.31	PGUAX	Virtus Global Infras	Pair Corr

Related Correlations Analysis

	PBXIX	XAVKX	FSAWX	PCNTX	VAADX	ARBOX
PBXIX		0.96	-0.41	0.93	0.92	-0.29	PBXIX
XAVKX	0.96		-0.48	0.95	0.95	-0.36	XAVKX
FSAWX	-0.41	-0.48		-0.64	-0.64	0.98	FSAWX
PCNTX	0.93	0.95	-0.64		0.99	-0.52	PCNTX
VAADX	0.92	0.95	-0.64	0.99		-0.52	VAADX
ARBOX	-0.29	-0.36	0.98	-0.52	-0.52		ARBOX
	PBXIX	XAVKX	FSAWX	PCNTX	VAADX	ARBOX

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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

VAADX	+ 0.99	PCNTX
ARBOX	+ 0.98	FSAWX
XAVKX	+ 0.96	PBXIX
PCNTX	+ 0.95	XAVKX
VAADX	+ 0.95	XAVKX
PCNTX	+ 0.93	PBXIX

High negative correlations

VAADX	- 0.64	FSAWX
PCNTX	- 0.64	FSAWX
ARBOX	- 0.52	VAADX
ARBOX	- 0.52	PCNTX
FSAWX	- 0.48	XAVKX
FSAWX	- 0.41	PBXIX

Risk-Adjusted Indicators

There is a big difference between Ridgeworth Mutual Fund performing well and Ridgeworth Ceredex 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 Ridgeworth Ceredex'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PBXIX	0.43	(0.04)	0.00	0.62	0.00	0.82	(0.90)	2.66
XAVKX	0.55	(0.05)	0.00	0.58	0.00	0.93	(1.14)	2.56
FSAWX	0.08	0.04	0.39	(1.05)	(0.14)	0.19	(0.10)	0.38
PCNTX	0.66	(0.08)	0.00	1.61	0.00	1.26	(1.68)	3.46
VAADX	0.65	(0.10)	0.00	3.64	0.00	1.11	(1.67)	3.26
ARBOX	0.05	0.02	0.00	1.32	0.00	0.09	0.00	0.18

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