Redwood Real Correlations

CREMX Fund

25.16 0.01 0.04%

The current 90-days correlation between Redwood Real Estate and Short Real Estate is -0.04 (i.e., Good diversification). The correlation of Redwood Real 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.

Redwood Real Correlation With Market

Significant diversification

The correlation between Redwood Real Estate and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Redwood Real Estate and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Redwood Real Estate. 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 Redwood Mutual Fund

0.95	VTSAX	Vanguard Total Stock	Pair Corr
0.96	VFIAX	Vanguard 500 Index	Pair Corr
0.95	VTSMX	Vanguard Total Stock	Pair Corr
0.95	VITSX	Vanguard Total Stock	Pair Corr
0.95	VSTSX	Vanguard Total Stock	Pair Corr
0.95	VSMPX	Vanguard Total Stock	Pair Corr
0.95	VFINX	Vanguard 500 Index	Pair Corr
0.96	VFFSX	Vanguard 500 Index	Pair Corr
0.95	VGTSX	Vanguard Total Inter	Pair Corr
0.95	VTIAX	Vanguard Total Inter	Pair Corr
0.69	NHS	Neuberger Berman High	Pair Corr
0.89	PFE	Pfizer Inc	Pair Corr
0.66	XOM	Exxon Mobil Corp	Pair Corr
0.85	AA	Alcoa Corp	Pair Corr
0.85	DD	Dupont De Nemours	Pair Corr
0.96	CSCO	Cisco Systems	Pair Corr
0.95	IBM	International Business Earnings Call This Week	Pair Corr
0.92	DIS	Walt Disney	Pair Corr
0.89	CVX	Chevron Corp	Pair Corr
0.97	CAT	Caterpillar	Pair Corr
0.88	BA	Boeing	Pair Corr
0.95	MSFT	Microsoft	Pair Corr

Moving against Redwood Mutual Fund

0.56	KO	Coca Cola Earnings Call Tomorrow	Pair Corr
0.5	VZ	Verizon Communications Earnings Call Today	Pair Corr

Related Correlations Analysis

	SRPIX	REPIX	JYEBX	GURPX	SAREX	DREYX	GMJPX	FREAX	FREEX
SRPIX		-1.0	-0.96	-0.79	-0.99	-0.93	-0.99	-0.98	-0.98	SRPIX
REPIX	-1.0		0.96	0.78	0.99	0.94	0.99	0.98	0.98	REPIX
JYEBX	-0.96	0.96		0.81	0.97	0.93	0.97	0.99	0.99	JYEBX
GURPX	-0.79	0.78	0.81		0.79	0.71	0.8	0.79	0.79	GURPX
SAREX	-0.99	0.99	0.97	0.79		0.97	0.99	0.98	0.99	SAREX
DREYX	-0.93	0.94	0.93	0.71	0.97		0.95	0.93	0.94	DREYX
GMJPX	-0.99	0.99	0.97	0.8	0.99	0.95		0.98	0.98	GMJPX
FREAX	-0.98	0.98	0.99	0.79	0.98	0.93	0.98		0.99	FREAX
FREEX	-0.98	0.98	0.99	0.79	0.99	0.94	0.98	0.99		FREEX
	SRPIX	REPIX	JYEBX	GURPX	SAREX	DREYX	GMJPX	FREAX	FREEX

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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

SAREX	+ 0.99	REPIX
GMJPX	+ 0.99	REPIX
FREAX	+ 0.99	JYEBX
FREEX	+ 0.99	JYEBX
GMJPX	+ 0.99	SAREX
FREEX	+ 0.99	SAREX

High negative correlations

REPIX	- 1.0	SRPIX
GMJPX	- 0.99	SRPIX
SAREX	- 0.99	SRPIX
FREEX	- 0.98	SRPIX
FREAX	- 0.98	SRPIX
JYEBX	- 0.96	SRPIX

Risk-Adjusted Indicators

There is a big difference between Redwood Mutual Fund performing well and Redwood Real 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 Redwood Real'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
SRPIX	0.62	(0.01)	0.00	0.14	0.00	0.00	1.28	(1.59)	4.17
REPIX	0.91	0.00	(0.01)	0.14	1.29	(0.93)	2.41	(1.97)	7.05
JYEBX	0.61	0.00	(0.05)	0.13	0.84	(0.66)	1.42	(1.39)	4.64
GURPX	0.14	0.01	0.00	0.21	0.00	0.00	0.42	0.00	3.41
SAREX	0.60	0.01	(0.06)	0.14	0.82	(0.67)	1.65	(1.39)	4.29
DREYX	0.65	0.00	(0.05)	0.12	0.88	(0.64)	1.62	(1.45)	4.49
GMJPX	0.59	0.00	(0.06)	0.12	0.81	(0.67)	1.49	(1.26)	4.41
FREAX	0.59	(0.01)	(0.07)	0.12	0.88	(0.60)	1.52	(1.31)	4.44
FREEX	0.59	0.01	(0.06)	0.14	0.81	(0.66)	1.54	(1.35)	4.34

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