Westwood Alternative Correlations

WMNAX Fund

USD 9.85 0.01 0.10%

The current 90-days correlation between Westwood Alternative and Government Securities Fund is 0.26 (i.e., Modest diversification). The correlation of Westwood Alternative 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 Alternative Correlation With Market

Weak diversification

The correlation between Westwood Alternative Income and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Westwood Alternative Income 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 Alternative Income. 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 Westwood Mutual Fund

0.88	CVSCX	Calamos Market Neutral	Pair Corr
0.9	CVSIX	Calamos Market Neutral	Pair Corr
0.92	CMNIX	Calamos Market Neutral	Pair Corr
0.96	ADANX	Aqr Diversified Arbitrage	Pair Corr
1.0	ARBIX	Absolute Convertible	Pair Corr
1.0	ARBOX	Absolute Convertible	Pair Corr
0.97	QDARX	Aqr Diversified Arbitrage	Pair Corr
0.96	FSAWX	Fidelity Sai Convertible	Pair Corr
0.96	BXECX	Barings Emerging Markets	Pair Corr
0.96	BXEIX	Barings Emerging Markets	Pair Corr
0.96	BXEAX	Barings Emerging Markets	Pair Corr
0.95	HLDIX	Hartford Emerging	Pair Corr
0.95	HLDRX	Hartford Emerging	Pair Corr
0.94	HLDAX	Hartford Emerging	Pair Corr
0.94	HLDCX	Hartford Emerging	Pair Corr
0.95	HLDTX	Hartford Emerging	Pair Corr
0.95	PIPTX	Virtus Kar Global	Pair Corr

Moving against Westwood Mutual Fund

0.56	WWSYX	Westwood Quality Smallcap	Pair Corr
0.56	WHGSX	Westwood Smallcap Value	Pair Corr
0.47	WWMCX	Ultimus Managers Trust	Pair Corr
0.46	WWSMX	Westwood Quality Smidcap	Pair Corr
0.46	WHGMX	Westwood Smidcap	Pair Corr
0.41	WHGAX	Westwood Quality Smallcap	Pair Corr
0.38	WHGCX	Westwood Quality Smallcap	Pair Corr

Related Correlations Analysis

	UIGSX	TWAVX	USGFX	SSAGX	TCSGX	RGVJX	RGVCX
UIGSX		0.97	0.97	0.94	0.96	1.0	1.0	UIGSX
TWAVX	0.97		0.96	0.97	0.99	0.98	0.98	TWAVX
USGFX	0.97	0.96		0.95	0.94	0.97	0.97	USGFX
SSAGX	0.94	0.97	0.95		0.97	0.94	0.93	SSAGX
TCSGX	0.96	0.99	0.94	0.97		0.96	0.96	TCSGX
RGVJX	1.0	0.98	0.97	0.94	0.96		1.0	RGVJX
RGVCX	1.0	0.98	0.97	0.93	0.96	1.0		RGVCX
	UIGSX	TWAVX	USGFX	SSAGX	TCSGX	RGVJX	RGVCX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Westwood Mutual Fund performing well and Westwood Alternative 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 Alternative'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
UIGSX	0.20	0.02	0.10	3.81	0.08	(0.26)	0.46	(0.35)	1.04
TWAVX	0.07	0.01	0.09	0.77	0.00	(0.17)	0.22	(0.11)	0.55
USGFX	0.26	0.02	0.07	(0.27)	0.24	(0.31)	0.51	(0.58)	1.55
SSAGX	0.06	0.01	0.13	(0.75)	0.00	(0.16)	0.10	(0.10)	0.51
TCSGX	0.08	0.00	0.13	0.00	0.00	(0.14)	0.20	(0.10)	0.59
RGVJX	0.25	0.03	0.10	1.28	0.19	(0.30)	0.60	(0.42)	1.55
RGVCX	0.24	0.03	0.11	1.99	0.15	(0.29)	0.51	(0.42)	1.38

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