Westcore Municipal Correlations

WTTAX Fund

USD 9.72 0.02 0.21%

The current 90-days correlation between Westcore Municipal and Segall Bryant Hamill is -0.36 (i.e., Very good diversification). The correlation of Westcore Municipal 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.

Westcore Municipal Correlation With Market

Very good diversification

The correlation between Westcore Municipal Opportuniti and DJI is -0.3 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Westcore Municipal Opportuniti 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 Westcore Municipal Opportunities. 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 Westcore Mutual Fund

0.64	SBHSX	Segall Bryant Hamill	Pair Corr
0.64	SBSIX	Segall Bryant Hamill	Pair Corr
0.95	WTCOX	Westcore Orado Tax	Pair Corr
0.88	WTIBX	Westcore Plus Bond	Pair Corr
0.95	WICOX	Westcore Orado Tax	Pair Corr
0.88	WIIBX	Westcore Plus Bond	Pair Corr
0.99	WITAX	Westcore Municipal	Pair Corr
0.95	VWITX	Vanguard Intermediate	Pair Corr
0.95	VWIUX	Vanguard Intermediate	Pair Corr
0.93	AFTEX	Tax Exempt Bond	Pair Corr
0.93	AFTFX	Tax Exempt Bond	Pair Corr
0.95	TEBCX	Tax Exempt Bond	Pair Corr
0.91	TEAFX	Tax Exempt Bond	Pair Corr
0.92	TFEBX	Tax Exempt Bond	Pair Corr
0.94	FLTMX	Fidelity Intermediate	Pair Corr
0.92	MDNLX	Blackrock National	Pair Corr
0.94	MFNLX	Blackrock Natl Muni	Pair Corr
0.79	GABFX	Gmo Asset Allocation Steady Growth	Pair Corr

Moving against Westcore Mutual Fund

0.41	SBHVX	Segall Bryant Hamill	Pair Corr
0.41	SBRVX	Segall Bryant Hamill	Pair Corr
0.4	SBASX	Segall Bryant Hamill	Pair Corr
0.4	SBHCX	Segall Bryant Hamill	Pair Corr
0.39	WTSGX	Westcore Small Cap	Pair Corr
0.31	SBHAX	Segall Bryant Hamill	Pair Corr
0.31	SBRAX	Segall Bryant Hamill	Pair Corr
0.44	GMCQX	Gmo Equity Allocation	Pair Corr
0.43	VFINX	Vanguard 500 Index	Pair Corr
0.39	WISGX	Westcore Small Cap	Pair Corr
0.39	PRCCX	Putnam Convertible Incm	Pair Corr
0.38	GCAVX	Gmo Small Cap	Pair Corr

Related Correlations Analysis

	SBASX	SBAPX	SBEMX	SBHAX	SBHCX	SBHEX	SBHPX	SBHSX	SBHVX	SBRVX
SBASX		0.05	-0.11	0.97	1.0	-0.11	0.07	-0.52	0.99	0.99	SBASX
SBAPX	0.05		0.45	0.18	0.05	0.46	0.98	0.39	0.07	0.07	SBAPX
SBEMX	-0.11	0.45		-0.02	-0.11	1.0	0.44	0.69	-0.1	-0.1	SBEMX
SBHAX	0.97	0.18	-0.02		0.97	-0.03	0.21	-0.44	0.96	0.96	SBHAX
SBHCX	1.0	0.05	-0.11	0.97		-0.11	0.07	-0.52	0.99	0.99	SBHCX
SBHEX	-0.11	0.46	1.0	-0.03	-0.11		0.44	0.69	-0.11	-0.11	SBHEX
SBHPX	0.07	0.98	0.44	0.21	0.07	0.44		0.39	0.09	0.09	SBHPX
SBHSX	-0.52	0.39	0.69	-0.44	-0.52	0.69	0.39		-0.54	-0.54	SBHSX
SBHVX	0.99	0.07	-0.1	0.96	0.99	-0.11	0.09	-0.54		1.0	SBHVX
SBRVX	0.99	0.07	-0.1	0.96	0.99	-0.11	0.09	-0.54	1.0		SBRVX
	SBASX	SBAPX	SBEMX	SBHAX	SBHCX	SBHEX	SBHPX	SBHSX	SBHVX	SBRVX

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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

SBHCX	+ 1.0	SBASX
SBHEX	+ 1.0	SBEMX
SBRVX	+ 1.0	SBHVX
SBHVX	+ 0.99	SBASX
SBRVX	+ 0.99	SBASX
SBHVX	+ 0.99	SBHCX

High negative correlations

SBRVX	- 0.54	SBHSX
SBHVX	- 0.54	SBHSX
SBHSX	- 0.52	SBHCX
SBHSX	- 0.52	SBASX
SBHSX	- 0.44	SBHAX
SBRVX	- 0.11	SBHEX

Risk-Adjusted Indicators

There is a big difference between Westcore Mutual Fund performing well and Westcore Municipal 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 Westcore Municipal'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
SBASX	0.82	(0.04)	0.00	0.10	0.96	(0.93)	1.81	(1.72)	6.91
SBAPX	0.06	0.00	(0.90)	(0.57)	0.00	(0.11)	0.10	(0.10)	0.49
SBEMX	0.63	(0.06)	0.00	(0.08)	0.00	0.00	1.56	(1.74)	4.57
SBHAX	0.56	(0.02)	(0.05)	0.11	0.67	(0.58)	1.04	(1.17)	3.54
SBHCX	0.81	(0.04)	0.00	0.10	0.94	(0.87)	1.82	(1.81)	6.95
SBHEX	0.63	(0.07)	0.00	(0.08)	0.00	0.00	1.57	(1.75)	4.59
SBHPX	0.06	0.00	(0.97)	0.23	0.00	(0.11)	0.10	(0.10)	0.49
SBHSX	0.62	(0.10)	0.00	(0.13)	0.00	0.00	1.40	(1.44)	3.97
SBHVX	0.95	(0.04)	0.02	0.10	0.91	(1.08)	2.00	(1.42)	8.07
SBRVX	0.95	(0.04)	0.02	0.10	0.91	(1.08)	2.00	(1.42)	8.09

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