Metropolitan West Correlations

MWLIX Fund

USD 8.40 0.01 0.12%

The current 90-days correlation between Metropolitan West Low and Metropolitan West Unconstrained is -0.09 (i.e., Good diversification). The correlation of Metropolitan West 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.

Metropolitan West Correlation With Market

Significant diversification

The correlation between Metropolitan West Low 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 Metropolitan West Low and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Metropolitan West Low. 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 gross domestic product.

Moving together with Metropolitan Mutual Fund

0.94	MWCIX	Metropolitan West	Pair Corr
0.94	MWCRX	Metropolitan West	Pair Corr
0.94	MWCPX	Metropolitan West	Pair Corr
0.89	MWERX	Metwest Esg Securitized	Pair Corr
0.96	MWESX	Metwest Esg Securitized	Pair Corr
0.92	MWHIX	Metropolitan West High	Pair Corr
0.92	MWHYX	Metropolitan West High	Pair Corr
0.82	MWIIX	Metropolitan West	Pair Corr
0.94	MWIGX	Metropolitan West	Pair Corr
0.96	MWISX	Metropolitan West	Pair Corr
0.95	MWLNX	Metropolitan West Low	Pair Corr
0.96	MWLDX	Metropolitan West Low	Pair Corr
0.97	MWSIX	Metropolitan West	Pair Corr
0.96	MWUIX	Metropolitan West Ultra	Pair Corr
0.97	MWUSX	Metropolitan West Ultra	Pair Corr
0.97	MWSTX	Metropolitan West	Pair Corr
0.83	MWTIX	Metropolitan West Total	Pair Corr
0.82	MWTNX	Metropolitan West Total	Pair Corr
0.83	MWTSX	Metropolitan West Total	Pair Corr
0.9	MWTRX	Metropolitan West Total	Pair Corr
0.82	VBIRX	Vanguard Short Term	Pair Corr
0.88	VFSUX	Vanguard Short Term	Pair Corr
0.95	VFSIX	Vanguard Short Term	Pair Corr
0.95	VFSTX	Vanguard Short Term	Pair Corr
0.93	VBITX	Vanguard Short Term	Pair Corr
0.93	VBISX	Vanguard Short Term	Pair Corr
0.94	LALDX	Lord Abbett Short	Pair Corr
0.92	VSCSX	Vanguard Short Term	Pair Corr
0.96	LDLAX	Lord Abbett Short	Pair Corr
0.91	LDLRX	Lord Abbett Short	Pair Corr
0.61	FRGOX	Franklin Gold Precious	Pair Corr

Related Correlations Analysis

	MWCIX	MWCSX	MWCRX	MWCPX	MWFSX	MWERX	MWESX	MWHIX	MWHYX	MWIIX
MWCIX		0.0	1.0	1.0	0.0	0.9	0.89	0.98	0.96	0.77	MWCIX
MWCSX	0.0		0.0	0.0	1.0	0.0	0.0	0.0	0.0	0.0	MWCSX
MWCRX	1.0	0.0		1.0	0.0	0.9	0.89	0.98	0.96	0.77	MWCRX
MWCPX	1.0	0.0	1.0		0.0	0.9	0.89	0.98	0.96	0.78	MWCPX
MWFSX	0.0	1.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	MWFSX
MWERX	0.9	0.0	0.9	0.9	0.0		0.93	0.84	0.81	0.74	MWERX
MWESX	0.89	0.0	0.89	0.89	0.0	0.93		0.86	0.85	0.83	MWESX
MWHIX	0.98	0.0	0.98	0.98	0.0	0.84	0.86		0.99	0.78	MWHIX
MWHYX	0.96	0.0	0.96	0.96	0.0	0.81	0.85	0.99		0.79	MWHYX
MWIIX	0.77	0.0	0.77	0.78	0.0	0.74	0.83	0.78	0.79		MWIIX
	MWCIX	MWCSX	MWCRX	MWCPX	MWFSX	MWERX	MWESX	MWHIX	MWHYX	MWIIX

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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

MWCRX	+ 1.0	MWCIX
MWCPX	+ 1.0	MWCIX
MWFSX	+ 1.0	MWCSX
MWCPX	+ 1.0	MWCRX
MWHYX	+ 0.99	MWHIX
MWHIX	+ 0.98	MWCIX

High negative correlations

MWIIX	- 0.0	MWFSX
MWHYX	- 0.0	MWFSX
MWHIX	- 0.0	MWFSX
MWESX	- 0.0	MWFSX
MWERX	- 0.0	MWFSX
MWFSX	- 0.0	MWCPX

Risk-Adjusted Indicators

There is a big difference between Metropolitan Mutual Fund performing well and Metropolitan West 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 Metropolitan West'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
MWCIX	0.15	0.03	(0.56)	0.59	0.00	(0.20)	0.30	(0.20)	0.98
MWCSX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MWCRX	0.15	0.03	(0.61)	0.61	0.00	(0.20)	0.30	(0.20)	0.98
MWCPX	0.15	0.03	(0.53)	0.68	0.00	(0.22)	0.30	(0.29)	1.27
MWFSX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MWERX	0.26	0.01	(0.32)	0.25	0.25	(0.30)	0.58	(0.47)	1.41
MWESX	0.27	0.02	(0.29)	1.93	0.24	(0.31)	0.59	(0.47)	1.53
MWHIX	0.13	0.05	(0.40)	0.57	0.00	(0.21)	0.55	(0.11)	1.00
MWHYX	0.14	0.07	(0.33)	(1.73)	0.00	(0.22)	0.55	(0.22)	1.01
MWIIX	0.18	0.03	(0.35)	(1.09)	0.00	(0.30)	0.43	(0.42)	1.81

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