Redwood Alphafactor Correlations

Summary

RWINXDelisted Fund

USD 12.28 0.00 0.00%

The current 90-days correlation between Redwood Alphafactor and Gabelli Global Financial is -0.02 (i.e., Good diversification). The correlation of Redwood Alphafactor 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 Alphafactor Correlation With Market

Significant diversification

The correlation between Redwood Alphafactor Tactical and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Redwood Alphafactor Tactical and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center 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 board of governors.

Moving together with Redwood Mutual Fund

0.66

GPMFX

Guidepath Managed Futures

Pair Corr

Moving against Redwood Mutual Fund

0.76	PAANX	Pimco All Asset	Pair Corr
0.7	PAUIX	Pimco All Asset	Pair Corr
0.52	PASAX	All Asset Fund	Pair Corr
0.46	PATRX	Pimco All Asset	Pair Corr
0.43	GAAKX	Gmo Alternative Allo	Pair Corr
0.42	GAAGX	Gmo Alternative Allo	Pair Corr
0.4	PAUPX	Pimco All Asset	Pair Corr
0.38	PASCX	All Asset Fund	Pair Corr
0.37	PAALX	All Asset Fund	Pair Corr
0.37	PAAIX	All Asset Fund	Pair Corr
0.37	PALPX	Pimco All Asset	Pair Corr
0.32	GPBFX	Gmo E Plus	Pair Corr
0.88	TEQAX	Touchstone Sustainability	Pair Corr
0.87	SIVIX	State Street Institu	Pair Corr
0.85	PSILX	Spectrum International	Pair Corr
0.85	VMNVX	Vanguard Global Minimum	Pair Corr
0.82	IAF	Aberdeen Australia	Pair Corr
0.62	XWDIX	Western Asset Diversified	Pair Corr
0.57	RYPIX	Transportation Fund	Pair Corr
0.56	VPACX	Vanguard Pacific Stock	Pair Corr
0.55	IISPX	Voya Solution 2055	Pair Corr
0.53	PLFIX	Largecap Sp 500	Pair Corr
0.5	EVFCX	Evaluator Conservative	Pair Corr
0.48	WAYRX	Western Asset High	Pair Corr
0.46	OCMAX	Ocm Mutual Fund	Pair Corr
0.32	FNYTX	Franklin New York	Pair Corr

Related Correlations Analysis

	GCFSX	FIKBX	BTO	FTIXX	PGFMX	FNPIX	PSSRX	FIDAX
GCFSX		0.99	0.95	0.69	0.98	0.96	0.97	0.96	GCFSX
FIKBX	0.99		0.97	0.72	0.97	0.99	1.0	0.99	FIKBX
BTO	0.95	0.97		0.67	0.9	0.96	0.97	0.96	BTO
FTIXX	0.69	0.72	0.67		0.73	0.73	0.73	0.75	FTIXX
PGFMX	0.98	0.97	0.9	0.73		0.95	0.95	0.95	PGFMX
FNPIX	0.96	0.99	0.96	0.73	0.95		0.99	0.99	FNPIX
PSSRX	0.97	1.0	0.97	0.73	0.95	0.99		0.99	PSSRX
FIDAX	0.96	0.99	0.96	0.75	0.95	0.99	0.99		FIDAX
	GCFSX	FIKBX	BTO	FTIXX	PGFMX	FNPIX	PSSRX	FIDAX

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Risk-Adjusted Indicators

There is a big difference between Redwood Mutual Fund performing well and Redwood Alphafactor 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 Alphafactor'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
GCFSX	0.65	0.19	0.17	0.41	0.35	(0.78)	1.94	(1.19)	3.94
FIKBX	0.80	0.12	0.11	0.25	0.71	(0.87)	2.01	(1.79)	5.93
BTO	0.91	0.19	0.14	0.37	0.88	(1.00)	2.27	(1.81)	6.26
FTIXX	0.03	0.01	0.00	(3.32)	0.00	0.00	0.00	0.00	1.01
PGFMX	0.32	0.06	(0.05)	0.28	0.22	(0.37)	0.77	(0.64)	2.42
FNPIX	1.09	0.05	0.07	0.16	1.19	(1.17)	2.64	(2.46)	8.00
PSSRX	0.78	0.09	0.09	0.21	0.75	(0.88)	2.07	(1.54)	6.05
FIDAX	0.72	0.08	0.07	0.22	0.73	(0.78)	1.86	(1.82)	5.18

Redwood Alphafactor 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 Redwood Alphafactor mutual fund to make a market-neutral strategy. Peer analysis of Redwood Alphafactor could also be used in its relative valuation, which is a method of valuing Redwood Alphafactor by comparing valuation metrics with similar companies.

Gabelli Global Financial Fidelity Advisor Financial John Hancock Financial Goldman Sachs Financial Putnam Global Financials Financials Ultrasector Profund Prudential Financial Services Financial Industries Fund American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

Risk & Return

Correlation

Still Interested in Redwood Alphafactor Tactical?

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