Redwood Managed Correlations

RWDNX Fund

USD 11.31 0.01 0.09%

The current 90-days correlation between Redwood Managed Vola and Two Roads Shared is 0.36 (i.e., Weak diversification). The correlation of Redwood Managed 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 Managed Correlation With Market

Very weak diversification

The correlation between Redwood Managed Volatility and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Redwood Managed Volatility and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Redwood Managed Volatility. 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 board of governors.

Moving together with Redwood Mutual Fund

1.0	RWDIX	Redwood Managed Vola	Pair Corr
1.0	RWDYX	Redwood Managed Vola	Pair Corr
0.95	RWIIX	Redwood Alphafactor	Pair Corr
0.97	RWMIX	Redwood Managed Municipal	Pair Corr
0.96	RWSNX	Redwood Systematic Macro	Pair Corr
0.96	RWSIX	Redwood Systematic Macro	Pair Corr
0.96	BSIKX	Blackrock Strategic	Pair Corr
0.96	BSICX	Blackrock Strategic Opps	Pair Corr
0.96	BASIX	Blackrock Strategic Opps	Pair Corr
0.96	BSIIX	Blackrock Strategic	Pair Corr
0.97	JSORX	Jpmorgan Strategic Income	Pair Corr
0.96	JSOZX	Jpmorgan Strategic Income	Pair Corr
0.95	JSOCX	Jpmorgan Strategic Income	Pair Corr
0.96	JSOSX	Jpmorgan Strategic Income	Pair Corr
0.96	JSOAX	Jpmorgan Strategic Income	Pair Corr
0.83	PMZCX	Pimco Mortgage Oppor	Pair Corr
0.94	PFN	Pimco Income Strategy	Pair Corr
0.92	CIF	Mfs Intermediate High	Pair Corr
0.62	NXJ	Nuveen New Jersey	Pair Corr
0.87	PCF	Putnam High Income	Pair Corr
0.95	MFLDX	Marketfield Fund Mar	Pair Corr
0.94	EFECX	Ashmore Emerging Markets	Pair Corr
0.96	BTFRX	Bts Tactical Fixed	Pair Corr
0.94	FMSRX	Frontier Mfg Global	Pair Corr
0.88	VNGAX	Vontobel Global Equity	Pair Corr
0.74	TIIHX	Tiaa Cref Inflation	Pair Corr
0.94	HILAX	Hartford International	Pair Corr
0.96	VFINX	Vanguard 500 Index	Pair Corr
0.96	0P0000V6X4	Vanguard Target Retire	Pair Corr
0.93	FMDRX	Franklin Mutual Global	Pair Corr
0.78	BPRIX	Blackrock Inflation	Pair Corr
0.93	NMGAX	Neuberger Berman Mid	Pair Corr
0.84	RYIFX	Guggenheim Managed	Pair Corr
0.95	AMGIX	Income Growth	Pair Corr
0.85	OWCIX	Old Westbury Credit	Pair Corr

Moving against Redwood Mutual Fund

0.55	XDSMX	Dreyfus Strategic	Pair Corr
0.62	XNBHX	Neuberger Berman Int	Pair Corr

Related Correlations Analysis

	LSAT	RWDIX	RWDNX	RWDYX	RWIIX	RWMIX	RWSNX	RWSIX
LSAT		0.73	0.72	0.73	0.61	0.7	0.78	0.78	LSAT
RWDIX	0.73		1.0	1.0	0.95	0.98	0.97	0.97	RWDIX
RWDNX	0.72	1.0		1.0	0.95	0.97	0.96	0.96	RWDNX
RWDYX	0.73	1.0	1.0		0.95	0.97	0.96	0.96	RWDYX
RWIIX	0.61	0.95	0.95	0.95		0.93	0.95	0.96	RWIIX
RWMIX	0.7	0.98	0.97	0.97	0.93		0.94	0.94	RWMIX
RWSNX	0.78	0.97	0.96	0.96	0.95	0.94		1.0	RWSNX
RWSIX	0.78	0.97	0.96	0.96	0.96	0.94	1.0		RWSIX
	LSAT	RWDIX	RWDNX	RWDYX	RWIIX	RWMIX	RWSNX	RWSIX

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Risk-Adjusted Indicators

There is a big difference between Redwood Mutual Fund performing well and Redwood Managed 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 Managed'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
LSAT	0.55	0.02	(0.05)	0.17	0.61	(0.62)	1.48	(1.42)	3.83
RWDIX	0.09	0.03	(0.64)	0.48	0.00	(0.15)	0.19	(0.09)	0.83
RWDNX	0.10	0.02	(0.77)	0.41	0.00	(0.17)	0.18	(0.09)	0.90
RWDYX	0.10	0.03	(0.55)	0.47	0.00	(0.15)	0.27	(0.18)	0.91
RWIIX	0.34	0.05	(0.09)	0.45	0.28	(0.45)	0.78	(0.79)	2.50
RWMIX	0.01	0.00	0.00	0.00	0.00	0.00	0.08	0.00	0.08
RWSNX	0.38	0.05	(0.07)	0.28	0.36	(0.42)	0.86	(0.97)	2.15
RWSIX	0.39	0.04	(0.07)	0.27	0.37	(0.44)	0.84	(0.96)	2.26

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