Westcore Municipal Correlations

WITAX Fund

USD 9.59 0.03 0.31%

The current 90-days correlation between Westcore Municipal and Cref Inflation Linked Bond is -0.04 (i.e., Good diversification). The correlation of Westcore Municipal 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 Municipal Correlation With Market

Average diversification

The correlation between Westcore Municipal Opportuniti and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Westcore Municipal Opportuniti 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 Municipal Opportunities. 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 nation.

Moving together with Westcore Mutual Fund

0.74	SBAPX	Segall Bryant Hamill	Pair Corr
0.73	SBHPX	Segall Bryant Hamill	Pair Corr
0.73	SBHSX	Segall Bryant Hamill	Pair Corr
0.73	SBSIX	Segall Bryant Hamill	Pair Corr
0.88	WTCOX	Westcore Orado Tax	Pair Corr
0.85	WTIBX	Westcore Plus Bond	Pair Corr
0.85	WTLTX	Westcore Flexible Income	Pair Corr
1.0	WTTAX	Westcore Municipal	Pair Corr
0.7	CIEQX	Segall Bryant Hamll	Pair Corr
0.71	CIQRX	Segall Bryant Hamll	Pair Corr
0.89	WICOX	Westcore Orado Tax	Pair Corr
0.92	WIIBX	Westcore Plus Bond	Pair Corr
0.84	WILTX	Westcore Flexible Income	Pair Corr
0.85	VWITX	Vanguard Intermediate-ter	Pair Corr
0.8	VWIUX	Vanguard Intermediate-ter	Pair Corr
0.82	AFTEX	Tax Exempt Bond	Pair Corr
0.83	AFTFX	Tax Exempt Bond	Pair Corr
0.78	TEBCX	Tax Exempt Bond	Pair Corr
0.82	TEAFX	Tax Exempt Bond	Pair Corr
0.82	TFEBX	Tax Exempt Bond	Pair Corr
0.79	FLTMX	Fidelity Intermediate	Pair Corr
0.73	MDNLX	Blackrock National	Pair Corr
0.68	MFNLX	Blackrock Natl Muni	Pair Corr
0.9	BRUFX	Bruce Fund Bruce	Pair Corr

Moving against Westcore Mutual Fund

0.58	WTSGX	Westcore Small Cap	Pair Corr
0.5	SBHVX	Segall Bryant Hamill	Pair Corr
0.48	SBASX	Segall Bryant Hamill	Pair Corr
0.45	SBHAX	Segall Bryant Hamill	Pair Corr
0.42	SBHCX	Segall Bryant Hamill	Pair Corr
0.41	SBRVX	Segall Bryant Hamill	Pair Corr
0.38	SBRAX	Segall Bryant Hamill	Pair Corr
0.31	WIMVX	Westcore Global Large	Pair Corr
0.58	WISGX	Westcore Small Cap	Pair Corr
0.33	SPGSX	State Street Premier	Pair Corr

Related Correlations Analysis

	QCILIX	ABNTX	ABNYX	CNLEX	PFRMX	ABNCX	ABNAX	SLFYX
QCILIX		0.99	0.98	0.98	0.96	0.99	1.0	0.95	QCILIX
ABNTX	0.99		1.0	0.99	0.97	1.0	0.99	0.96	ABNTX
ABNYX	0.98	1.0		0.99	0.97	1.0	0.99	0.95	ABNYX
CNLEX	0.98	0.99	0.99		0.96	0.99	0.98	0.94	CNLEX
PFRMX	0.96	0.97	0.97	0.96		0.96	0.96	0.98	PFRMX
ABNCX	0.99	1.0	1.0	0.99	0.96		0.99	0.95	ABNCX
ABNAX	1.0	0.99	0.99	0.98	0.96	0.99		0.95	ABNAX
SLFYX	0.95	0.96	0.95	0.94	0.98	0.95	0.95		SLFYX
	QCILIX	ABNTX	ABNYX	CNLEX	PFRMX	ABNCX	ABNAX	SLFYX

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Risk-Adjusted Indicators

There is a big difference between Westcore Mutual Fund performing well and Westcore Municipal 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 Municipal'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
QCILIX	0.14	0.04	0.53	(0.98)	(0.16)	0.32	(0.26)	0.94
ABNTX	0.15	0.05	0.52	(6.72)	(0.21)	0.39	(0.20)	0.99
ABNYX	0.15	0.05	0.56	(8.85)	(0.20)	0.38	(0.28)	0.86
CNLEX	0.21	0.05	0.38	1.83	(0.29)	0.55	(0.33)	1.32
PFRMX	0.21	0.09	0.64	1.28	(0.32)	0.49	(0.35)	1.34
ABNCX	0.15	0.05	0.58	8.03	(0.20)	0.39	(0.29)	0.90
ABNAX	0.15	0.04	0.53	(1.59)	(0.20)	0.38	(0.28)	0.97
SLFYX	0.17	0.08	0.70	(1.84)	(0.27)	0.50	(0.25)	1.02

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