Westwood Alternative Correlations

Summary

WWACXDelisted Fund

USD 9.76 0.00 0.00%

The current 90-days correlation between Westwood Alternative and Ab Global Risk is -0.3 (i.e., Very good diversification). The correlation of Westwood Alternative 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 Alternative Correlation With Market

Good diversification

The correlation between Westwood Alternative Income and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Westwood Alternative Income and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios. 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 Westwood Mutual Fund

0.68	CVSCX	Calamos Market Neutral	Pair Corr
0.7	CVSIX	Calamos Market Neutral	Pair Corr
0.72	CVSOX	Calamos Market Neutral	Pair Corr
0.72	CMNIX	Calamos Market Neutral	Pair Corr
0.88	ADAIX	Aqr Diversified Arbitrage	Pair Corr
0.88	ADANX	Aqr Diversified Arbitrage	Pair Corr
0.86	ARBIX	Absolute Convertible	Pair Corr
0.86	ARBOX	Absolute Convertible	Pair Corr
0.88	QDARX	Aqr Diversified Arbitrage	Pair Corr
0.88	FSAWX	Fidelity Sai Convertible	Pair Corr
0.64	HTD	John Hancock Tax	Pair Corr
0.69	GIOIX	Guggenheim Macro Opp	Pair Corr
0.81	ABNOX	Ab Bond Inflation	Pair Corr
0.76	UTF	Cohen And Steers	Pair Corr
0.74	SGDLX	Sprott Gold Equity	Pair Corr
0.73	VICSX	Vanguard Intermediate-ter	Pair Corr

Related Correlations Analysis

	CABIX	LMLRX	GARGX	LFLCX	MSTGX	ANAGX	SGICX
CABIX		0.96	0.9	0.61	0.64	0.6	0.32	CABIX
LMLRX	0.96		0.85	0.48	0.51	0.45	0.38	LMLRX
GARGX	0.9	0.85		0.72	0.72	0.74	0.21	GARGX
LFLCX	0.61	0.48	0.72		0.98	0.92	0.01	LFLCX
MSTGX	0.64	0.51	0.72	0.98		0.87	-0.01	MSTGX
ANAGX	0.6	0.45	0.74	0.92	0.87		0.05	ANAGX
SGICX	0.32	0.38	0.21	0.01	-0.01	0.05		SGICX
	CABIX	LMLRX	GARGX	LFLCX	MSTGX	ANAGX	SGICX

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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

MSTGX	+ 0.98	LFLCX
LMLRX	+ 0.96	CABIX
ANAGX	+ 0.92	LFLCX
GARGX	+ 0.9	CABIX
ANAGX	+ 0.87	MSTGX
GARGX	+ 0.85	LMLRX

High negative correlations

SGICX

- 0.01

MSTGX

Risk-Adjusted Indicators

There is a big difference between Westwood Mutual Fund performing well and Westwood Alternative 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 Alternative'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
CABIX	0.36	0.01	0.03	0.03	0.40	(0.38)	0.73	(0.77)	2.58
LMLRX	0.31	0.01	0.03	0.03	0.35	(0.34)	0.61	(0.60)	2.17
GARGX	0.76	0.04	0.04	0.05	0.96	(0.76)	1.48	(1.45)	4.42
LFLCX	0.17	0.01	0.07	(0.48)	0.12	(0.21)	0.43	(0.33)	0.98
MSTGX	0.30	0.05	0.11	(0.51)	0.33	(0.34)	0.74	(0.62)	1.58
ANAGX	0.18	0.00	0.01	0.04	0.19	(0.27)	0.44	(0.44)	1.46
SGICX	0.88	(0.28)	0.00	(1.52)	0.00	0.00	1.09	(1.16)	19.11

Westwood Alternative Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Westwood Alternative mutual fund to make a market-neutral strategy. Peer analysis of Westwood Alternative could also be used in its relative valuation, which is a method of valuing Westwood Alternative by comparing valuation metrics with similar companies.

Ab Global Risk Qs Defensive Growth Goldman Sachs Global Legg Mason Global Morningstar Global Income Ab Global Bond Summit Global Investments American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp

Risk & Return

Correlation

Still Interested in Westwood Alternative Income?

Investing in delisted funds can be risky, as the mutual fund is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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