Westcore Orado Correlations

WICOX Fund

USD 10.44 0.02 0.19%

The current 90-days correlation between Westcore Orado Tax and Champlain Small is 0.15 (i.e., Average diversification). The correlation of Westcore Orado 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.

Westcore Orado Correlation With Market

Significant diversification

The correlation between Westcore Orado Tax Exempt and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Westcore Orado Tax Exempt 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 Westcore Orado Tax Exempt. 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 persons.

Moving together with Westcore Mutual Fund

0.83	SBAPX	Segall Bryant Hamill	Pair Corr
0.64	SBEMX	Segall Bryant Hamill	Pair Corr
0.64	SBHEX	Segall Bryant Hamill	Pair Corr
0.82	SBHPX	Segall Bryant Hamill	Pair Corr
0.79	SBHSX	Segall Bryant Hamill	Pair Corr
0.79	SBSIX	Segall Bryant Hamill	Pair Corr
0.99	WTCOX	Westcore Orado Tax	Pair Corr
0.9	WTIBX	Westcore Plus Bond	Pair Corr
0.86	WTLTX	Westcore Flexible Income	Pair Corr
0.97	WTTAX	Westcore Municipal	Pair Corr
0.8	CIEQX	Segall Bryant Hamll	Pair Corr
0.8	CIQRX	Segall Bryant Hamll	Pair Corr
0.91	WIIBX	Westcore Plus Bond	Pair Corr
0.86	WILTX	Westcore Flexible Income	Pair Corr
0.97	WITAX	Westcore Municipal	Pair Corr
0.95	HICOX	Colorado Bondshares	Pair Corr
0.86	KYTFX	Kentucky Tax Free	Pair Corr
0.68	UVABX	Virginia Bond	Pair Corr
0.91	HULYX	Hawaiian Tax Free	Pair Corr
0.83	HULFX	Hawaiian Tax Free	Pair Corr
0.91	ORTYX	Aquila Tax Free	Pair Corr
0.77	UVAIX	Usaa Virginia Bond	Pair Corr
0.76	USVAX	Virginia Bond	Pair Corr
0.91	HULAX	Hawaiian Tax Free	Pair Corr

Moving against Westcore Mutual Fund

0.59	WTSGX	Westcore Small Cap	Pair Corr
0.45	SBASX	Segall Bryant Hamill	Pair Corr
0.45	SBHCX	Segall Bryant Hamill	Pair Corr
0.44	SBHVX	Segall Bryant Hamill	Pair Corr
0.43	SBHAX	Segall Bryant Hamill	Pair Corr
0.37	SBRVX	Segall Bryant Hamill	Pair Corr
0.37	SBRAX	Segall Bryant Hamill	Pair Corr
0.54	WISGX	Westcore Small Cap	Pair Corr

Related Correlations Analysis

	CIPNX	QSERX	HSCVX	SECAX	VSFSX	DFUKX	GLVIX
CIPNX		0.92	0.93	0.98	0.91	-0.11	0.73	CIPNX
QSERX	0.92		0.97	0.96	0.91	-0.21	0.72	QSERX
HSCVX	0.93	0.97		0.96	0.93	-0.2	0.77	HSCVX
SECAX	0.98	0.96	0.96		0.92	-0.21	0.69	SECAX
VSFSX	0.91	0.91	0.93	0.92		-0.09	0.76	VSFSX
DFUKX	-0.11	-0.21	-0.2	-0.21	-0.09		0.17	DFUKX
GLVIX	0.73	0.72	0.77	0.69	0.76	0.17		GLVIX
	CIPNX	QSERX	HSCVX	SECAX	VSFSX	DFUKX	GLVIX

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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

SECAX	+ 0.98	CIPNX
HSCVX	+ 0.97	QSERX
SECAX	+ 0.96	QSERX
SECAX	+ 0.96	HSCVX
HSCVX	+ 0.93	CIPNX
VSFSX	+ 0.93	HSCVX

High negative correlations

DFUKX	- 0.21	SECAX
DFUKX	- 0.21	QSERX
DFUKX	- 0.2	HSCVX
DFUKX	- 0.11	CIPNX
DFUKX	- 0.09	VSFSX

Risk-Adjusted Indicators

There is a big difference between Westcore Mutual Fund performing well and Westcore Orado 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 Westcore Orado'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
CIPNX	1.01	(0.23)	(0.21)	1.52	(2.00)	10.86
QSERX	1.00	(0.14)	(0.11)	1.89	(2.37)	5.43
HSCVX	0.81	(0.10)	(0.11)	1.45	(1.78)	3.38
SECAX	1.07	(0.25)	(0.22)	1.84	(2.57)	11.41
VSFSX	0.90	(0.13)	1.35	1.64	(2.07)	5.18
DFUKX	0.80	(0.03)	0.10	1.96	(2.04)	6.05
GLVIX	0.93	(0.04)	(0.04)	1.52	(2.12)	5.60

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