Westwood Short Correlations

Mutual Funds . USA . 
Fund . Westwood Short Duration
WHGHX Fund  USD 9.96  0.04  0.40%   
The current 90-days correlation between Westwood Short Duration and Doubleline Global Bond is 0.6 (i.e., Poor diversification). The correlation of Westwood Short 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 Short Correlation With Market

Poor diversification

The correlation between Westwood Short Duration and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Westwood Short Duration 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 Short Duration. 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 rate.

Moving together with Westwood Mutual Fund

  1.0WSDAX Westwood Short DurationPairCorr
  0.9WWICX Westwood Income OppoPairCorr
  0.91WWIAX Westwood Income OppoPairCorr
  0.75WWLAX Westwood Largecap ValuePairCorr
  0.62WHGQX Westwood Quality ValuePairCorr
  0.75WHGLX Westwood Largecap ValuePairCorr
  0.92WHGIX Westwood Income OppoPairCorr
  0.61WMNAX Westwood AlternativePairCorr
  0.61WMNIX Westwood Market NeutralPairCorr
  0.68WQAIX Westwood Quality AllcapPairCorr
  0.69WQAUX Westwood Quality AllcapPairCorr
  0.95FASIX Fidelity Asset ManagerPairCorr
  0.95FTIWX Fidelity Asset ManagerPairCorr
  0.95FTDWX Fidelity Asset ManagerPairCorr
  0.94FTAWX Fidelity Asset ManagerPairCorr
  0.95FIKVX Fidelity Asset ManagerPairCorr
  0.95FTCWX Fidelity Asset ManagerPairCorr
  0.97PFIPX Strategic Asset ManaPairCorr
  0.68VGTSX Vanguard Total InterPairCorr
  0.68VTIAX Vanguard Total InterPairCorr
  0.76LMHIX Western Asset MunicipalPairCorr
  0.91RWDYX Redwood Managed VolaPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Westwood Mutual Fund performing well and Westwood Short 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 Short'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.

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