Virtus Kar Correlations

VRMGX Fund

USD 65.25 0.68 1.03%

The current 90-days correlation between Virtus Kar Mid and Virtus Multi Strategy Target is 0.16 (i.e., Average diversification). The correlation of Virtus Kar 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.

Virtus Kar Correlation With Market

Very weak diversification

The correlation between Virtus Kar Mid Cap and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Virtus Kar Mid Cap 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 Virtus Kar Mid Cap. 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 price.

Moving together with Virtus Mutual Fund

0.73	SAGAX	Ridgeworth Innovative	Pair Corr
0.83	SAMFX	Ridgeworth Seix Total	Pair Corr
0.8	SAMVX	Ridgeworth Ceredex Mid	Pair Corr
0.82	SAMZX	Ridgeworth Seix Total	Pair Corr
0.78	PXCZX	Virtus Tax Exempt	Pair Corr
0.68	SASVX	Ridgeworth Ceredex Small	Pair Corr
0.89	PXIIX	Virtus Rampart Enhanced	Pair Corr
0.79	SAVAX	Virtus Bond Fund	Pair Corr
0.81	SAVCX	Virtus Bond Fund	Pair Corr
0.79	SAVYX	Virtus Bond Fund	Pair Corr
0.76	PXQSX	Virtus Kar Small	Pair Corr
0.69	SSTFX	Virtus Kar Capital	Pair Corr
0.68	PXSGX	Virtus Kar Small	Pair Corr
0.89	PGICX	Virtus Rampart Enhanced	Pair Corr
0.78	PGIUX	Virtus Global Infras	Pair Corr
0.66	STCEX	Ridgeworth Ceredex Small	Pair Corr
0.71	HIEMX	Virtus Emerging Markets	Pair Corr
0.78	PGUAX	Virtus Global Infras	Pair Corr
0.77	PGUCX	Virtus Global Infras	Pair Corr
0.82	STGIX	Ridgeworth Seix E	Pair Corr
0.83	STGZX	Ridgeworth Seix E	Pair Corr
0.83	STIGX	Ridgeworth Seix E	Pair Corr
0.69	STITX	Ridgeworth International	Pair Corr
0.76	STTBX	Ridgeworth Seix Inve	Pair Corr

Related Correlations Analysis

	VMSAX	VMSSX	HYIZX	SAGAX	HYPSX	SAMFX	SAMBX	SAMHX	SSAGX	SAMVX
VMSAX		0.74	0.89	0.77	0.55	0.6	0.56	0.55	0.49	0.47	VMSAX
VMSSX	0.74		0.93	0.4	0.64	0.18	0.89	0.63	0.93	-0.09	VMSSX
HYIZX	0.89	0.93		0.59	0.69	0.42	0.84	0.68	0.79	0.19	HYIZX
SAGAX	0.77	0.4	0.59		0.49	0.71	0.16	0.52	0.11	0.51	SAGAX
HYPSX	0.55	0.64	0.69	0.49		0.44	0.62	0.99	0.55	-0.07	HYPSX
SAMFX	0.6	0.18	0.42	0.71	0.44		0.02	0.49	-0.09	0.68	SAMFX
SAMBX	0.56	0.89	0.84	0.16	0.62	0.02		0.57	0.91	-0.15	SAMBX
SAMHX	0.55	0.63	0.68	0.52	0.99	0.49	0.57		0.52	-0.06	SAMHX
SSAGX	0.49	0.93	0.79	0.11	0.55	-0.09	0.91	0.52		-0.34	SSAGX
SAMVX	0.47	-0.09	0.19	0.51	-0.07	0.68	-0.15	-0.06	-0.34		SAMVX
	VMSAX	VMSSX	HYIZX	SAGAX	HYPSX	SAMFX	SAMBX	SAMHX	SSAGX	SAMVX

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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

SAMHX	+ 0.99	HYPSX
HYIZX	+ 0.93	VMSSX
SSAGX	+ 0.93	VMSSX
SSAGX	+ 0.91	SAMBX
HYIZX	+ 0.89	VMSAX
SAMBX	+ 0.89	VMSSX

High negative correlations

SAMVX	- 0.34	SSAGX
SAMVX	- 0.15	SAMBX
SSAGX	- 0.09	SAMFX
SAMVX	- 0.09	VMSSX
SAMVX	- 0.07	HYPSX
SAMVX	- 0.06	SAMHX

Risk-Adjusted Indicators

There is a big difference between Virtus Mutual Fund performing well and Virtus Kar 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 Virtus Kar'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
VMSAX	0.14	0.02	0.08	0.23	0.00	(0.19)	0.33	(0.28)	0.95
VMSSX	0.10	0.02	0.06	0.61	0.00	(0.30)	0.22	(0.22)	0.89
HYIZX	0.15	0.02	0.08	0.32	0.00	(0.26)	0.51	(0.25)	1.27
SAGAX	1.05	0.06	0.04	0.07	1.39	(1.16)	2.08	(2.28)	7.06
HYPSX	0.13	0.01	0.03	0.20	0.04	(0.20)	0.39	(0.26)	1.05
SAMFX	0.23	(0.01)	0.00	(0.16)	0.00	0.00	0.54	(0.54)	1.53
SAMBX	0.11	0.02	0.06	2.67	0.00	(0.48)	0.13	(0.13)	1.70
SAMHX	0.13	0.01	0.04	0.22	0.05	(0.19)	0.38	(0.26)	1.15
SSAGX	0.05	0.01	0.00	1.33	0.00	0.00	0.10	(0.10)	0.51
SAMVX	0.77	(0.12)	0.00	(0.19)	0.00	0.00	1.32	(1.44)	11.18

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