Westwood Quality Correlations

WHGCX Fund  USD 19.05  0.20  1.04%   
The current 90-days correlation between Westwood Quality Smallcap and Westwood Short Duration is 0.75 (i.e., Poor diversification). The correlation of Westwood Quality 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.

Westwood Quality Correlation With Market

Poor diversification

The correlation between Westwood Quality Smallcap and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Westwood Quality Smallcap and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Westwood Quality Smallcap. 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 main economic indicators.

Moving together with Westwood Mutual Fund

  0.68WWLAX Westwood Largecap ValuePairCorr
  0.9WWMCX Ultimus Managers TrustPairCorr
  0.97WWSMX Westwood Quality SmidcapPairCorr
  1.0WWSYX Westwood Quality SmallcapPairCorr
  1.0WHGSX Westwood Smallcap ValuePairCorr
  1.0WHGAX Westwood Quality SmallcapPairCorr
  0.97WHGMX Westwood SmidcapPairCorr
  0.68WHGLX Westwood Largecap ValuePairCorr
  0.68WQAIX Westwood Quality AllcapPairCorr
  0.75WQAUX Westwood Quality AllcapPairCorr
  0.92VSMAX Vanguard Small CapPairCorr
  0.98VSCIX Vanguard Small CapPairCorr
  0.98VSCPX Vanguard Small CapPairCorr
  0.98NAESX Vanguard Small CapPairCorr
  0.92FSSNX Fidelity Small CapPairCorr
  0.98DFSTX Us Small CapPairCorr
  0.97PASVX T Rowe PricePairCorr
  0.97PRVIX T Rowe PricePairCorr
  0.97TRZVX T Rowe PricePairCorr
  0.9PRSVX T Rowe PricePairCorr

Moving against Westwood Mutual Fund

  0.59WMNUX Westwood Market NeutralPairCorr
  0.57WMNAX Westwood AlternativePairCorr
  0.57WMNIX Westwood Market NeutralPairCorr
  0.56AEDVX Emerging Markets DebtPairCorr
  0.56INTIX Voya International IndexPairCorr
  0.46PFN Pimco Income StrategyPairCorr
  0.45PEAPX International EmergingPairCorr
  0.4FAGHX FaghxPairCorr
  0.32PCF Putnam High IncomePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Westwood Mutual Fund performing well and Westwood Quality 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 Westwood Quality'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
WSDAX  0.25  0.00 (0.01)(0.01) 0.32 
 0.61 
 1.61 
WWICX  0.38 (0.02) 0.00  0.29  0.00 
 0.76 
 2.08 
WWIAX  0.37 (0.02) 0.00 (0.04) 0.00 
 0.76 
 2.07 
WWLAX  0.64 (0.03) 0.00 (0.04) 0.00 
 1.22 
 2.91 
WWMCX  0.77 (0.08) 0.00  0.58  0.00 
 1.29 
 3.05 
WWSMX  0.84 (0.09) 0.00 (0.10) 0.00 
 1.57 
 4.11 
WWSYX  0.90 (0.13) 0.00 (0.14) 0.00 
 1.27 
 5.04 
WHGSX  0.90 (0.13) 0.00 (0.14) 0.00 
 1.27 
 5.04 
WHGQX  0.64 (0.03) 0.00 (0.03) 0.00 
 1.16 
 2.94 
WHGCX  0.90 (0.14) 0.00 (0.14) 0.00 
 1.29 
 5.03