Scout Unconstrained Correlations

SUBFX Fund

USD 12.45 0.02 0.16%

The current 90-days correlation between Scout Unconstrained Bond and Mesirow Financial Small is 0.36 (i.e., Weak diversification). The correlation of Scout Unconstrained 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.

Scout Unconstrained Correlation With Market

Average diversification

The correlation between Scout Unconstrained Bond and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Scout Unconstrained Bond 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 Scout Unconstrained Bond. 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 census.

Moving together with Scout Mutual Fund

0.91	CWFIX	Chartwell Short Duration	Pair Corr
0.9	CWFCX	Carillon Chartwell Short	Pair Corr
0.91	CWFAX	Chartwell Short Duration	Pair Corr
0.9	CWFRX	Carillon Chartwell Short	Pair Corr
0.94	SCCIX	Scout E Bond	Pair Corr
1.0	SUBTX	Carillon Reams Uncon	Pair Corr
1.0	SUBDX	Carillon Reams Uncon	Pair Corr
1.0	SUBEX	Carillon Reams Uncon	Pair Corr
0.98	SCPEX	Carillon Reams Core	Pair Corr
0.99	SCPDX	Carillon Reams Core	Pair Corr
0.99	SCPWX	Carillon Reams Core	Pair Corr
0.99	SCPZX	Scout E Plus	Pair Corr
0.89	BERSX	Carillon Chartwell Real	Pair Corr
0.88	BERIX	Berwyn Income	Pair Corr
0.88	BERGX	Carillon Chartwell Real	Pair Corr
0.88	BERHX	Carillon Chartwell Real	Pair Corr

Moving against Scout Mutual Fund

0.84	CWSGX	Chartwell Small Cap	Pair Corr
0.84	CWSBX	Carillon Chartwell Small	Pair Corr
0.84	CWSRX	Columbia Large Cap	Pair Corr
0.83	CWSAX	Carillon Chartwell Small	Pair Corr
0.8	UMBHX	Scout Small Cap	Pair Corr
0.53	CWSHX	Carillon Chartwell Small	Pair Corr
0.53	CWSCX	Carillon Chartwell Small	Pair Corr
0.53	UMBMX	Scout Mid Cap	Pair Corr
0.52	CWSIX	Chartwell Small Cap	Pair Corr
0.52	CWSWX	Carillon Chartwell Small	Pair Corr
0.5	BERBX	Carillon Chartwell Mid	Pair Corr
0.49	BERDX	Carillon Chartwell Mid	Pair Corr
0.42	HIGCX	Eagle Growth Income	Pair Corr
0.41	HIGUX	Eagle Growth Income	Pair Corr
0.81	CSSVX	Carillon Scout Small	Pair Corr
0.81	CSSJX	Carillon Scout Small	Pair Corr
0.81	CSSAX	Carillon Scout Small	Pair Corr
0.69	HRAUX	Eagle Mid Cap	Pair Corr
0.69	HAGIX	Eagle Mid Cap	Pair Corr
0.69	HAGAX	Eagle Mid Cap	Pair Corr
0.69	HAGCX	Eagle Mid Cap	Pair Corr
0.67	HRCCX	Eagle Capital Apprec	Pair Corr

Related Correlations Analysis

	MSVIX	DVFYX	FNPIX	FTIXX	SBFAX	BTO	PSSRX
MSVIX		0.33	0.5	0.0	0.59	0.87	0.81	MSVIX
DVFYX	0.33		0.95	0.0	0.88	0.62	0.7	DVFYX
FNPIX	0.5	0.95		0.0	0.92	0.74	0.82	FNPIX
FTIXX	0.0	0.0	0.0		0.0	0.0	0.0	FTIXX
SBFAX	0.59	0.88	0.92	0.0		0.84	0.86	SBFAX
BTO	0.87	0.62	0.74	0.0	0.84		0.88	BTO
PSSRX	0.81	0.7	0.82	0.0	0.86	0.88		PSSRX
	MSVIX	DVFYX	FNPIX	FTIXX	SBFAX	BTO	PSSRX

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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

FNPIX	+ 0.95	DVFYX
SBFAX	+ 0.92	FNPIX
SBFAX	+ 0.88	DVFYX
PSSRX	+ 0.88	BTO
BTO	+ 0.87	MSVIX
PSSRX	+ 0.86	SBFAX

High negative correlations

PSSRX	- 0.0	FTIXX
BTO	- 0.0	FTIXX
SBFAX	- 0.0	FTIXX
FTIXX	- 0.0	FNPIX
FTIXX	- 0.0	DVFYX
FTIXX	- 0.0	MSVIX

Risk-Adjusted Indicators

There is a big difference between Scout Mutual Fund performing well and Scout Unconstrained 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 Scout Unconstrained'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
MSVIX	0.98	(0.21)	0.00	(0.19)	0.00	0.00	1.60	(2.19)	10.85
DVFYX	0.85	0.03	0.02	(0.33)	1.27	(0.82)	1.65	(2.39)	6.47
FNPIX	1.27	0.01	0.00	(0.10)	1.87	(1.25)	2.66	(3.48)	9.08
FTIXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SBFAX	0.77	0.00	0.00	0.00	1.15	(0.80)	1.69	(1.92)	5.22
BTO	1.08	(0.04)	0.00	(0.04)	0.00	0.00	2.30	(2.35)	6.87
PSSRX	0.99	(0.12)	0.00	(0.10)	0.00	0.00	1.85	(3.18)	6.03

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