Teton Westwood Correlations

Mutual Funds . USA . 
Fund . Teton Westwood Mighty
WEMMX Fund  USD 16.16  0.21  1.32%   
The current 90-days correlation between Teton Westwood Mighty and The Gabelli Small is 0.97 (i.e., Almost no diversification). The correlation of Teton Westwood 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.

Teton Westwood Correlation With Market

Very poor diversification

The correlation between Teton Westwood Mighty and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Teton Westwood Mighty 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 Teton Westwood Mighty. 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 population.

Moving together with Teton Mutual Fund

  0.96WBBIX Teton Westwood BalancedPairCorr
  0.95WBCCX Teton Westwood BalancedPairCorr
  0.88WEBCX Teton Westwood BalancedPairCorr
  0.88WEBAX Teton Westwood BalancedPairCorr
  0.83WEECX Teton Westwood EquityPairCorr
  0.92WEEIX Teton Westwood EquityPairCorr
  0.95WEICX Teton Vertible SecuritiesPairCorr
  0.95WEIAX Teton Vertible SecuritiesPairCorr
  1.0WEIMX Teton Westwood MightyPairCorr
  0.91WEQCX Teton Westwood EquityPairCorr
  0.92WESWX Teton Westwood EquityPairCorr
  0.98WESRX Teton Vertible SecuritiesPairCorr
  0.9WESCX Teton Westwood SmallPairCorr
  0.98WESIX Teton Vertible SecuritiesPairCorr
  0.9WWSAX Teton Westwood SmallPairCorr
  0.97WWSIX Teton Westwood SmallPairCorr
  1.0WMMCX Teton Westwood MightyPairCorr
  0.95WMMAX Teton Westwood MightyPairCorr
  0.92VSMAX Vanguard Small CapPairCorr
  0.92VSCIX Vanguard Small CapPairCorr
  0.98VSCPX Vanguard Small CapPairCorr
  0.98NAESX Vanguard Small CapPairCorr
  0.98FSSNX Fidelity Small CapPairCorr
  0.98DFSTX Us Small CapPairCorr
  0.96PASVX T Rowe PricePairCorr
  0.96PRVIX T Rowe PricePairCorr
  0.96TRZVX T Rowe PricePairCorr
  0.89PRSVX T Rowe PricePairCorr
  0.82CPAYX Columbia Pacific/asiaPairCorr
  0.65CASCX Columbia PacificasiaPairCorr
  0.91CISGX Touchstone Sands CapitalPairCorr
  0.89MGHRX Morgan Stanley InstiPairCorr
  0.91MGRPX Growth Portfolio ClassPairCorr
  0.73WUSRX Wells Fargo UltraPairCorr
  0.96RGABX Growth FundPairCorr
  0.96PRGTX T Rowe PricePairCorr
  0.79JOF Japan Smaller CapitaPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Teton Mutual Fund performing well and Teton Westwood 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 Teton Westwood'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.

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