Westwood Market Correlations

WMNUX Fund

USD 9.88 0.01 0.10%

The current 90-days correlation between Westwood Market Neutral and Franklin Natural Resources is -0.03 (i.e., Good diversification). The correlation of Westwood Market 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 Market Correlation With Market

Good diversification

The correlation between Westwood Market Neutral and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Westwood Market Neutral 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 Market Neutral. 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 employment.

Moving together with Westwood Mutual Fund

1.0	WMNAX	Westwood Alternative	Pair Corr
1.0	WMNIX	Westwood Market Neutral	Pair Corr
0.85	CVSCX	Calamos Market Neutral	Pair Corr
0.88	CVSIX	Calamos Market Neutral	Pair Corr
0.87	CVSOX	Calamos Market Neutral	Pair Corr
0.87	CMNIX	Calamos Market Neutral	Pair Corr
0.96	ADAIX	Aqr Diversified Arbitrage	Pair Corr
0.96	ADANX	Aqr Diversified Arbitrage	Pair Corr
1.0	ARBIX	Absolute Convertible	Pair Corr
1.0	ARBOX	Absolute Convertible	Pair Corr
0.96	QDARX	Aqr Diversified Arbitrage	Pair Corr
0.97	FSAWX	Fidelity Sai Convertible	Pair Corr
0.97	BXECX	Barings Emerging Markets	Pair Corr
0.97	BXEIX	Barings Emerging Markets	Pair Corr
0.97	BXEAX	Barings Emerging Markets	Pair Corr
0.94	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

0.61	WHGCX	Westwood Quality Smallcap	Pair Corr
0.6	WWSYX	Westwood Quality Smallcap	Pair Corr
0.6	WHGSX	Westwood Smallcap Value	Pair Corr
0.59	WHGAX	Westwood Quality Smallcap	Pair Corr
0.52	WWMCX	Ultimus Managers Trust	Pair Corr
0.51	WHGMX	Westwood Smidcap	Pair Corr
0.5	WWSMX	Westwood Quality Smidcap	Pair Corr

Related Correlations Analysis

	FRNRX	VENAX	TREIX	SMAPX	BACCX	HNRGX	TMLAX
FRNRX		0.97	0.37	0.93	0.96	0.99	0.93	FRNRX
VENAX	0.97		0.33	0.93	0.98	0.99	0.93	VENAX
TREIX	0.37	0.33		0.33	0.43	0.39	0.39	TREIX
SMAPX	0.93	0.93	0.33		0.91	0.93	0.99	SMAPX
BACCX	0.96	0.98	0.43	0.91		0.97	0.9	BACCX
HNRGX	0.99	0.99	0.39	0.93	0.97		0.94	HNRGX
TMLAX	0.93	0.93	0.39	0.99	0.9	0.94		TMLAX
	FRNRX	VENAX	TREIX	SMAPX	BACCX	HNRGX	TMLAX

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Risk-Adjusted Indicators

There is a big difference between Westwood Mutual Fund performing well and Westwood Market 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 Market'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
FRNRX	0.85	0.10	0.09	0.12	1.16	(0.91)	1.72	(1.97)	4.96
VENAX	0.99	0.11	0.08	0.16	1.44	(0.92)	2.08	(2.51)	6.05
TREIX	0.07	0.00	0.28	0.00	0.00	(0.13)	0.20	(0.10)	0.60
SMAPX	1.12	0.14	0.10	0.19	1.50	(1.21)	2.13	(2.32)	7.93
BACCX	0.82	0.12	0.11	0.20	1.20	(0.81)	1.49	(2.08)	5.48
HNRGX	0.89	0.12	0.09	0.17	1.31	(0.84)	1.80	(2.30)	5.81
TMLAX	1.04	0.12	0.09	0.15	1.31	(1.11)	1.88	(2.24)	6.23

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