Westwood Quality Correlations

WQAIX Fund  USD 11.62  0.10  0.87%   
The current 90-days correlation between Westwood Quality Allcap and Westwood Short Duration is 0.67 (i.e., Poor diversification). The correlation of Westwood Quality 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 Quality Correlation With Market

Very weak diversification

The correlation between Westwood Quality Allcap and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Westwood Quality Allcap 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 Quality Allcap. 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 gross domestic product.

Moving together with Westwood Mutual Fund

  0.65WSDAX Westwood Short DurationPairCorr
  0.64WWICX Westwood Income OppoPairCorr
  0.71WWIAX Westwood Income OppoPairCorr
  0.99WWLAX Westwood Largecap ValuePairCorr
  0.9WWMCX Ultimus Managers TrustPairCorr
  0.89WWSMX Westwood Quality SmidcapPairCorr
  0.91WWSYX Westwood Quality SmallcapPairCorr
  0.91WHGSX Westwood Smallcap ValuePairCorr
  0.87WHGCX Westwood Quality SmallcapPairCorr
  0.87WHGAX Westwood Quality SmallcapPairCorr
  0.89WHGMX Westwood SmidcapPairCorr
  0.99WHGLX Westwood Largecap ValuePairCorr
  0.7WHGIX Westwood Income OppoPairCorr
  0.63WHGHX Westwood Short DurationPairCorr
  1.0WQAUX Westwood Quality AllcapPairCorr
  0.83VVIAX Vanguard Value IndexPairCorr
  0.69DOXGX Dodge Cox StockPairCorr
  0.87AFMFX American MutualPairCorr
  0.91FFMMX American Funds AmericanPairCorr
  0.91FFFMX American Funds AmericanPairCorr
  0.92AMRMX American MutualPairCorr
  0.87AMFFX American MutualPairCorr
  0.87AMFCX American MutualPairCorr
  0.93DODGX Dodge Stock FundPairCorr
  0.84VIVAX Vanguard Value IndexPairCorr

Moving against Westwood Mutual Fund

  0.43WWHCX Westwood High IncomePairCorr
  0.39WWACX Westwood AlternativePairCorr
  0.87UIPIX Ultrashort Mid CapPairCorr
  0.72RRPSX Rising Rates OpportunityPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Westwood Mutual Fund performing well and Westwood Quality 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 Quality'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
WSDAX  0.24  0.02  0.09  0.06  0.27 
 0.60 
 1.70 
WWICX  0.33  0.01  0.07 (0.33) 0.44 
 0.76 
 2.64 
WWIAX  0.33  0.02  0.07  0.04  0.43 
 0.76 
 2.55 
WWLAX  0.62 (0.09) 0.00 (0.15) 0.00 
 1.04 
 7.16 
WWMCX  0.65 (0.13) 0.00 (5.03) 0.00 
 1.08 
 6.62 
WWSMX  0.69 (0.09) 0.00 (0.15) 0.00 
 1.28 
 5.21 
WWSYX  0.86 (0.19) 0.00 (0.26) 0.00 
 1.27 
 7.29 
WHGSX  0.86 (0.20) 0.00 (0.26) 0.00 
 1.27 
 7.34 
WHGCX  0.88 (0.20) 0.00  9.53  0.00 
 1.56 
 7.50 
WHGAX  0.88 (0.20) 0.00  7.64  0.00 
 1.54 
 7.41