Westwood Largecap Correlations

WHGLX Fund

USD 13.55 0.03 0.22%

The current 90-days correlation between Westwood Largecap Value and Western Asset Diversified is -0.14 (i.e., Good diversification). The correlation of Westwood Largecap 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 Largecap Correlation With Market

Very poor diversification

The correlation between Westwood Largecap Value and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Westwood Largecap Value 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 Largecap Value. 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 bureau of economic analysis.

Moving together with Westwood Mutual Fund

0.74	WSDAX	Westwood Short Duration	Pair Corr
0.95	WWICX	Westwood Income Oppo	Pair Corr
0.94	WWIAX	Westwood Income Oppo	Pair Corr
1.0	WWLAX	Westwood Largecap Value	Pair Corr
0.76	WWMCX	Ultimus Managers Trust	Pair Corr
0.74	WWSMX	Westwood Quality Smidcap	Pair Corr
0.68	WWSYX	Westwood Quality Smallcap	Pair Corr
0.68	WHGSX	Westwood Smallcap Value	Pair Corr
0.67	WHGCX	Westwood Quality Smallcap	Pair Corr
0.65	WHGAX	Westwood Quality Smallcap	Pair Corr
0.74	WHGMX	Westwood Smidcap	Pair Corr
0.94	WHGIX	Westwood Income Oppo	Pair Corr
0.75	WHGHX	Westwood Short Duration	Pair Corr
0.96	WQAIX	Westwood Quality Allcap	Pair Corr
0.96	WQAUX	Westwood Quality Allcap	Pair Corr
0.9	VVIAX	Vanguard Value Index	Pair Corr
0.76	DOXGX	Dodge Cox Stock	Pair Corr
0.86	AFMFX	American Mutual	Pair Corr
0.86	FFMMX	American Funds American	Pair Corr
0.86	FFFMX	American Funds American	Pair Corr
0.86	AMRMX	American Mutual	Pair Corr
0.75	AMFFX	American Mutual	Pair Corr
0.86	AMFCX	American Mutual	Pair Corr
0.81	DODGX	Dodge Stock Fund	Pair Corr
0.9	VIVAX	Vanguard Value Index	Pair Corr
0.79	VSTSX	Vanguard Total Stock	Pair Corr
0.79	VSMPX	Vanguard Total Stock	Pair Corr
0.83	VITSX	Vanguard Total Stock	Pair Corr
0.8	VFFSX	Vanguard 500 Index	Pair Corr
0.85	VFIAX	Vanguard 500 Index	Pair Corr
0.8	VINIX	Vanguard Institutional	Pair Corr
0.83	VTSAX	Vanguard Total Stock	Pair Corr

Related Correlations Analysis

	XWDIX	BDVFX	HIIDX	PHTTX	SRDAX	QDARX	FZABX
XWDIX		0.68	0.52	0.45	-0.51	0.39	0.46	XWDIX
BDVFX	0.68		0.86	0.47	-0.44	0.84	0.79	BDVFX
HIIDX	0.52	0.86		0.63	-0.31	0.87	0.97	HIIDX
PHTTX	0.45	0.47	0.63		0.04	0.35	0.71	PHTTX
SRDAX	-0.51	-0.44	-0.31	0.04		-0.24	-0.21	SRDAX
QDARX	0.39	0.84	0.87	0.35	-0.24		0.85	QDARX
FZABX	0.46	0.79	0.97	0.71	-0.21	0.85		FZABX
	XWDIX	BDVFX	HIIDX	PHTTX	SRDAX	QDARX	FZABX

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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

FZABX	+ 0.97	HIIDX
QDARX	+ 0.87	HIIDX
HIIDX	+ 0.86	BDVFX
FZABX	+ 0.85	QDARX
QDARX	+ 0.84	BDVFX
FZABX	+ 0.79	BDVFX

High negative correlations

SRDAX	- 0.51	XWDIX
SRDAX	- 0.44	BDVFX
SRDAX	- 0.31	HIIDX
QDARX	- 0.24	SRDAX
FZABX	- 0.21	SRDAX

Risk-Adjusted Indicators

There is a big difference between Westwood Mutual Fund performing well and Westwood Largecap 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 Largecap'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
XWDIX	0.20	(0.03)	0.00	0.64	0.00	0.00	0.33	(0.46)	1.59
BDVFX	0.25	0.00	0.07	(0.08)	0.32	(0.28)	0.54	(0.54)	1.41
HIIDX	0.62	0.08	0.10	0.10	0.82	(0.64)	1.27	(0.97)	5.23
PHTTX	0.35	0.00	0.00	(0.05)	0.00	0.00	0.67	(0.67)	1.95
SRDAX	0.16	0.00	0.15	(0.11)	0.16	(0.20)	0.29	(0.37)	0.76
QDARX	0.08	0.03	0.61	1.49	0.00	(0.13)	0.25	(0.08)	0.49
FZABX	0.74	0.09	0.10	0.11	1.00	(0.72)	1.45	(1.37)	6.16

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