Virtus Convertible Correlations

Mutual Funds . USA . 
Fund . Virtus Convertible
VAADX Fund  USD 37.40  0.57  1.55%   
The current 90-days correlation between Virtus Convertible and Vanguard Multi Sector Income is 0.46 (i.e., Very weak diversification). The correlation of Virtus Convertible 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.

Virtus Convertible Correlation With Market

Almost no diversification

The correlation between Virtus Convertible and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Virtus Convertible and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Virtus Convertible. 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 unemployment.

Moving together with Virtus Mutual Fund

  0.92VMSSX Virtus Multi SectorPairCorr
  0.96HYIZX Ridgeworth Seix HighPairCorr
  0.98SAGAX Ridgeworth InnovativePairCorr
  0.96HYPSX Ridgeworth Seix HighPairCorr
  0.97SAMBX Ridgeworth Seix FloatingPairCorr
  0.95SAMHX Ridgeworth Seix HighPairCorr
  0.86SSAGX Virtus Seix GovernmentPairCorr
  0.98SAMVX Ridgeworth Ceredex MidPairCorr
  0.96PHCIX Virtus High YieldPairCorr
  0.98NAINX Virtus Tactical AlloPairCorr
  0.96VRHYX Virtus High YieldPairCorr
  0.93VAAGX Virtus Nfj LargePairCorr
  0.81VRREX Virtus Real EstatePairCorr
  0.86SIGVX Ridgeworth Seix GovePairCorr
  0.92VVERX Virtus Ceredex SmallPairCorr
  0.97VIDMX Virtus Kar DevelopingPairCorr
  0.98PSFRX Virtus Senior FloatingPairCorr
  0.88PSGAX Virtus Kar SmallPairCorr
  0.88PSGCX Virtus Kar SmallPairCorr
  0.96VIESX Virtus Emerging MarketsPairCorr
  0.98PSFIX Virtus Senior FloatingPairCorr
  0.94PSKCX Virtus Kar MidPairCorr
  0.95VIISX Virtus InternationalPairCorr
  0.99FCSZX Franklin ConvertiblePairCorr
  0.99FCSKX Franklin VertiblePairCorr
  0.99FISCX Franklin ConvertiblePairCorr
  0.99FROTX Franklin ConvertiblePairCorr
  1.0ANZCX Allianzgi ConvertiblePairCorr
  1.0ANZAX Allianzgi ConvertiblePairCorr
  1.0ANNPX Allianzgi VertiblePairCorr
  1.0FCVSX Fidelity VertiblePairCorr
  0.8NHS Neuberger Berman HighPairCorr
  0.99TWSMX Strategic AllocationPairCorr
  0.98VWEAX Vanguard High YieldPairCorr

Moving against Virtus Mutual Fund

  0.54MCSVX Mainstay VertiblePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Virtus Mutual Fund performing well and Virtus Convertible 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 Virtus Convertible'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VMSAX  0.17  0.03 (0.21) 0.48  0.20 
(0.19)
 0.45 
(0.39)
 1.24 
VMSSX  0.12  0.02 (0.24)(1.72) 0.00 
(0.26)
 0.22 
(0.22)
 0.67 
HYIZX  0.22  0.02 (0.11) 0.28  0.29 
(0.27)
 0.65 
(0.53)
 1.44 
SAGAX  1.59  0.28  0.14  0.29  2.00 
(1.79)
 3.17 
(3.04)
 18.80 
HYPSX  0.21  0.01 (0.13) 0.20  0.32 
(0.24)
 0.55 
(0.41)
 1.47 
SAMFX  0.29 (0.01)(0.24)(0.21) 0.39 
(0.30)
 0.54 
(0.65)
 1.71 
SAMBX  0.14  0.00 (0.19) 0.13  0.16 
(0.23)
 0.40 
(0.40)
 0.93 
SAMHX  0.21  0.01 (0.13) 0.19  0.31 
(0.27)
 0.53 
(0.53)
 1.44 
SSAGX  0.07  0.00 (0.91) 0.00  0.00 
(0.17)
 0.10 
(0.10)
 0.61 
SAMZX  0.28 (0.01)(0.26)(0.31) 0.37 
(0.28)
 0.44 
(0.65)
 1.60 

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