Core Plus Correlations

WCPBX Fund

USD 9.77 0.02 0.21%

The current 90-days correlation between Core Plus Income and Profunds Large Cap Growth is 0.22 (i.e., Modest diversification). The correlation of Core Plus 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.

Core Plus Correlation With Market

Average diversification

The correlation between Core Plus Income and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Core Plus Income and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Core Plus Income. 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 bureau of labor statistics.

Moving together with Core Mutual Fund

0.83	SAFEX	Weitz Ultra Short	Pair Corr
0.89	WSHNX	Short Duration Income	Pair Corr
1.0	WCPNX	Core Plus Income	Pair Corr
0.89	WEFIX	Short Duration Income	Pair Corr
0.9	WNTFX	Nebraska Tax Free	Pair Corr
0.94	DOXIX	Dodge Cox Income	Pair Corr
0.99	MWTNX	Metropolitan West Total	Pair Corr
0.99	MWTSX	Metropolitan West Total	Pair Corr
0.98	PTTPX	Pimco Total Return	Pair Corr
0.99	PTRRX	Total Return	Pair Corr
0.99	PTRAX	Total Return	Pair Corr
0.98	PTTRX	Total Return	Pair Corr
1.0	FIWGX	Strategic Advisers	Pair Corr
0.94	DODIX	Dodge Income	Pair Corr
0.99	MWTIX	Metropolitan West Total	Pair Corr
0.91	XDSMX	Dreyfus Strategic	Pair Corr
0.91	XNXJX	Nuveen New Jersey	Pair Corr
0.9	NXJ	Nuveen New Jersey	Pair Corr
0.87	XNBHX	Neuberger Berman Int	Pair Corr
0.89	MSTMX	Morningstar Multisector	Pair Corr
0.87	JRTBX	Retirement Living Through	Pair Corr
0.85	RFXIX	Rational Special Sit	Pair Corr
0.89	XMHFX	Western Asset Municipal	Pair Corr
0.83	ADLIX	Amg Managers Doubleline	Pair Corr
0.69	FXIDX	Fixed Income Shares	Pair Corr
0.8	FVDFX	Fidelity Value Discovery	Pair Corr
0.84	IIXCX	Catalyst Insider Income	Pair Corr
0.8	NEWFX	New World Fund	Pair Corr

Moving against Core Mutual Fund

0.53	WPVLX	Partners Value	Pair Corr
0.37	WVAIX	Value Fund Value	Pair Corr
0.37	WVALX	Value Fund Value	Pair Corr
0.47	PCF	Putnam High Income	Pair Corr

Related Correlations Analysis

	LGPSX	PTEZX	LMISX	ALCEX	WILCX	BALGX	TRCPX
LGPSX		0.91	0.91	0.86	0.78	0.99	0.78	LGPSX
PTEZX	0.91		0.98	0.82	0.85	0.89	0.92	PTEZX
LMISX	0.91	0.98		0.83	0.87	0.89	0.93	LMISX
ALCEX	0.86	0.82	0.83		0.73	0.85	0.79	ALCEX
WILCX	0.78	0.85	0.87	0.73		0.72	0.88	WILCX
BALGX	0.99	0.89	0.89	0.85	0.72		0.75	BALGX
TRCPX	0.78	0.92	0.93	0.79	0.88	0.75		TRCPX
	LGPSX	PTEZX	LMISX	ALCEX	WILCX	BALGX	TRCPX

Risk-Adjusted Indicators

There is a big difference between Core Mutual Fund performing well and Core Plus 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 Core Plus' 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
LGPSX	0.74	0.05	0.00	(0.93)	1.06	(0.70)	1.58	(1.76)	4.70
PTEZX	0.56	0.01	0.01	0.05	0.88	(0.52)	1.15	(1.15)	4.17
LMISX	0.55	0.03	0.03	0.07	0.77	(0.51)	1.26	(1.35)	4.08
ALCEX	0.55	0.01	(0.03)	(0.09)	0.85	(0.51)	1.17	(1.33)	4.46
WILCX	0.40	0.01	(0.02)	0.06	0.38	(0.48)	0.83	(0.73)	2.22
BALGX	0.76	0.02	(0.02)	(0.31)	1.14	(0.73)	1.50	(2.05)	4.76
TRCPX	0.47	0.00	0.00	0.05	0.56	(0.53)	1.24	(1.17)	3.77

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