Westwood Short Correlations

WSDAX Fund

USD 10.17 0.02 0.20%

The current 90-days correlation between Westwood Short Duration and World Energy Fund is 0.23 (i.e., Modest diversification). The correlation of Westwood Short 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 Short Correlation With Market

Very weak diversification

The correlation between Westwood Short Duration and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Westwood Short Duration 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 Short Duration. 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

0.8	WWACX	Westwood Alternative	Pair Corr
0.89	WWICX	Westwood Income Oppo	Pair Corr
0.98	WWIAX	Westwood Income Oppo	Pair Corr
0.8	WWLAX	Westwood Largecap Value	Pair Corr
0.62	WWSMX	Westwood Quality Smidcap	Pair Corr
0.8	WHGLX	Westwood Largecap Value	Pair Corr
0.87	WHGIX	Westwood Income Oppo	Pair Corr
0.84	WHGHX	Westwood Short Duration	Pair Corr
0.69	WMNUX	Westwood Market Neutral	Pair Corr
0.68	WMNAX	Westwood Alternative	Pair Corr
0.67	WMNIX	Westwood Market Neutral	Pair Corr
0.78	WQAUX	Westwood Quality Allcap	Pair Corr
0.83	FASIX	Fidelity Asset Manager	Pair Corr
0.83	FTIWX	Fidelity Asset Manager	Pair Corr
0.84	FTDWX	Fidelity Asset Manager	Pair Corr
0.83	FTAWX	Fidelity Asset Manager	Pair Corr
0.83	FIKVX	Fidelity Asset Manager	Pair Corr
0.84	FTCWX	Fidelity Asset Manager	Pair Corr
0.87	PFIPX	Strategic Asset Mana	Pair Corr
0.65	VTSMX	Vanguard Total Stock	Pair Corr
0.65	VSMPX	Vanguard Total Stock	Pair Corr
0.65	VSTSX	Vanguard Total Stock	Pair Corr
0.65	VITSX	Vanguard Total Stock	Pair Corr
0.69	VGTSX	Vanguard Total Inter	Pair Corr
0.69	VTIAX	Vanguard Total Inter	Pair Corr
0.74	VTMGX	Vanguard Developed	Pair Corr

Related Correlations Analysis

	AIWEX	IGNAX	SNPIX	BACCX	SMAPX	PEO
AIWEX		0.75	-0.71	0.72	0.78	0.72	AIWEX
IGNAX	0.75		-0.92	0.9	0.69	0.88	IGNAX
SNPIX	-0.71	-0.92		-0.99	-0.73	-0.96	SNPIX
BACCX	0.72	0.9	-0.99		0.76	0.95	BACCX
SMAPX	0.78	0.69	-0.73	0.76		0.8	SMAPX
PEO	0.72	0.88	-0.96	0.95	0.8		PEO
	AIWEX	IGNAX	SNPIX	BACCX	SMAPX	PEO

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

PEO	+ 0.95	BACCX
BACCX	+ 0.9	IGNAX
PEO	+ 0.88	IGNAX
PEO	+ 0.8	SMAPX
SMAPX	+ 0.78	AIWEX
SMAPX	+ 0.76	BACCX

High negative correlations

BACCX	- 0.99	SNPIX
PEO	- 0.96	SNPIX
SNPIX	- 0.92	IGNAX
SMAPX	- 0.73	SNPIX
SNPIX	- 0.71	AIWEX

Risk-Adjusted Indicators

There is a big difference between Westwood Mutual Fund performing well and Westwood Short 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 Short'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
AIWEX	1.07	(0.07)	0.00	(0.31)	0.00	0.00	1.90	(1.83)	9.76
IGNAX	0.87	(0.05)	0.00	(0.10)	0.00	0.00	1.44	(1.53)	5.07
SNPIX	0.93	0.10	0.10	(0.19)	0.85	(1.13)	2.35	(1.40)	4.99
BACCX	0.81	(0.08)	0.00	(0.19)	0.00	0.00	1.24	(1.90)	4.22
SMAPX	1.06	0.00	0.00	(0.01)	1.60	(1.03)	1.86	(2.46)	7.93
PEO	0.88	(0.03)	0.00	(0.08)	0.00	0.00	1.65	(1.87)	5.71

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