Wellington Shields Correlations

Mutual Funds . USA . 
Fund . Wellington Shields All Cap
WSACX Fund  USD 26.44  0.43  1.60%   
The current 90-days correlation between Wellington Shields All and Flexible Bond Portfolio is 0.02 (i.e., Significant diversification). The correlation of Wellington Shields 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.

Wellington Shields Correlation With Market

Poor diversification

The correlation between Wellington Shields All Cap and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wellington Shields All Cap 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 Wellington Shields All Cap. 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 main economic indicators.

Moving together with Wellington Mutual Fund

  0.91FAFGX American FundsPairCorr
  0.91FFAFX American FundsPairCorr
  0.91GFACX Growth FundPairCorr
  0.91GFAFX Growth FundPairCorr
  0.91AGTHX Growth FundPairCorr
  0.91CGFFX Growth FundPairCorr
  0.91CGFCX Growth FundPairCorr
  0.91CGFAX Growth FundPairCorr
  0.91CGFEX Growth FundPairCorr
  0.91RGAEX Growth FundPairCorr

Moving against Wellington Mutual Fund

  0.79RYWBX Weakening DollarPairCorr
  0.79RAMEX Short Term BondPairCorr
  0.78PPFFX American Funds PresePairCorr
  0.72MBFAX Total Return BondPairCorr
  0.71LCRVX Lord Abbett EPairCorr
  0.7BMOAX Blackrock Bond IndexPairCorr
  0.65FHMIX Federated Hermes ConPairCorr
  0.62RYAEX Europe 125x StrategyPairCorr
  0.61EGRIX Eaton Vance GlobalPairCorr
  0.54PIERX Putnam InternationalPairCorr
  0.51NHS Neuberger Berman HighPairCorr
  0.48VWVUX Tomorrows Scholar CollegePairCorr
  0.47GOIGX John Hancock InternaPairCorr
  0.46PEAPX International EmergingPairCorr
  0.45BMICX Blackrock Managed IncomePairCorr
  0.38JOEAX Johcm Emerging MarketsPairCorr
  0.35MERFX Merger FundPairCorr
  0.33IVSYX Ivy Global BondPairCorr
  0.32JEMSX Jpmorgan Emerging MarketsPairCorr
  0.79FSGIX Federated Gov SecPairCorr
  0.76PMZPX Pimco Mortgage OpporPairCorr
  0.74PSJIX Short Term IncomePairCorr
  0.72LIBAX Columbia Total ReturnPairCorr
  0.71PUCCX Prudential UnconstrainedPairCorr
  0.71VWTAX Tomorrows Scholar CollegePairCorr
  0.71JSNAX Jhancock Short DurationPairCorr
  0.71PZINX Pzena International ValuePairCorr
  0.7BIGCX Blackrock Gov BdPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Wellington Mutual Fund performing well and Wellington Shields 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 Wellington Shields' 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.

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