Westwood Quality Correlations

WWSMX Fund

USD 15.46 0.08 0.51%

The current 90-days correlation between Westwood Quality Smidcap and Ab Discovery Value is 0.87 (i.e., Very 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

Poor diversification

The correlation between Westwood Quality Smidcap and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Westwood Quality Smidcap 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 Smidcap. 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 population.

Moving together with Westwood Mutual Fund

0.78	WWLAX	Westwood Largecap Value	Pair Corr
0.93	WWMCX	Ultimus Managers Trust	Pair Corr
0.98	WWSYX	Westwood Quality Smallcap	Pair Corr
0.98	WHGSX	Westwood Smallcap Value	Pair Corr
0.98	WHGCX	Westwood Quality Smallcap	Pair Corr
0.93	WHGAX	Westwood Quality Smallcap	Pair Corr
1.0	WHGMX	Westwood Smidcap	Pair Corr
0.76	WHGLX	Westwood Largecap Value	Pair Corr
0.85	WQAIX	Westwood Quality Allcap	Pair Corr
0.84	WQAUX	Westwood Quality Allcap	Pair Corr
0.84	VSMAX	Vanguard Small Cap	Pair Corr
0.91	VSCIX	Vanguard Small Cap	Pair Corr
0.91	VSCPX	Vanguard Small Cap	Pair Corr
0.91	NAESX	Vanguard Small Cap	Pair Corr
0.8	FSSNX	Fidelity Small Cap	Pair Corr
0.98	DFSTX	Us Small Cap	Pair Corr
0.89	PASVX	T Rowe Price	Pair Corr
0.96	PRVIX	T Rowe Price	Pair Corr
0.89	TRZVX	T Rowe Price	Pair Corr
0.79	PRSVX	T Rowe Price	Pair Corr

Moving against Westwood Mutual Fund

0.56	WMNUX	Westwood Market Neutral	Pair Corr
0.54	WMNAX	Westwood Alternative	Pair Corr
0.53	WMNIX	Westwood Market Neutral	Pair Corr
0.53	INTIX	Voya International Index	Pair Corr
0.45	PEAPX	International Emerging	Pair Corr
0.39	AEDVX	Emerging Markets Debt	Pair Corr
0.37	FAGHX	Faghx	Pair Corr

Related Correlations Analysis

	ABYSX	ASVIX	AOPAX	UCPIX	ARSVX	BPSCX	RYCLX	SHPSX
ABYSX		0.99	-0.31	-0.97	0.94	0.98	-0.98	-0.95	ABYSX
ASVIX	0.99		-0.35	-0.96	0.94	0.98	-0.98	-0.94	ASVIX
AOPAX	-0.31	-0.35		0.42	-0.36	-0.24	0.46	0.43	AOPAX
UCPIX	-0.97	-0.96	0.42		-0.91	-0.95	0.99	0.99	UCPIX
ARSVX	0.94	0.94	-0.36	-0.91		0.9	-0.93	-0.89	ARSVX
BPSCX	0.98	0.98	-0.24	-0.95	0.9		-0.95	-0.93	BPSCX
RYCLX	-0.98	-0.98	0.46	0.99	-0.93	-0.95		0.97	RYCLX
SHPSX	-0.95	-0.94	0.43	0.99	-0.89	-0.93	0.97		SHPSX
	ABYSX	ASVIX	AOPAX	UCPIX	ARSVX	BPSCX	RYCLX	SHPSX

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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

ASVIX	+ 0.99	ABYSX
RYCLX	+ 0.99	UCPIX
SHPSX	+ 0.99	UCPIX
BPSCX	+ 0.98	ABYSX
BPSCX	+ 0.98	ASVIX
SHPSX	+ 0.97	RYCLX

High negative correlations

RYCLX	- 0.98	ASVIX
RYCLX	- 0.98	ABYSX
UCPIX	- 0.97	ABYSX
UCPIX	- 0.96	ASVIX
RYCLX	- 0.95	BPSCX
BPSCX	- 0.95	UCPIX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ABYSX	0.87	(0.11)	0.00	(0.10)	0.00	0.00	1.43	(2.08)	4.03
ASVIX	0.89	(0.12)	0.00	(0.12)	0.00	0.00	1.72	(2.26)	4.45
AOPAX	0.46	0.04	0.06	0.11	0.63	(0.49)	1.15	(1.14)	3.90
UCPIX	1.98	0.34	0.14	(0.15)	2.12	(2.20)	5.49	(3.62)	13.88
ARSVX	0.71	(0.07)	0.00	0.62	0.00	0.00	1.47	(1.52)	3.39
BPSCX	0.84	(0.10)	0.00	(0.10)	0.00	0.00	1.61	(2.10)	4.06
RYCLX	0.88	0.14	0.12	(0.13)	0.90	(0.94)	2.30	(1.54)	6.28
SHPSX	1.02	0.18	0.15	(0.16)	1.05	(1.18)	2.75	(1.79)	7.00

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