Partners Value Correlations

WPVIX Fund

USD 33.44 0.73 2.23%

The current 90-days correlation between Partners Value and Weitz Ultra Short is 0.04 (i.e., Significant diversification). The correlation of Partners Value 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.

Partners Value Correlation With Market

Good diversification

The correlation between Partners Value Fund and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Partners Value Fund 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 Partners Value Fund. 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 gross domestic product.

Moving together with Partners Mutual Fund

0.71	WBAIX	Weitz Balanced	Pair Corr
0.91	WVAIX	Value Fund Value	Pair Corr
0.8	WVALX	Value Fund Value	Pair Corr
0.69	WPOIX	Partners Iii Opportunity	Pair Corr
0.68	WPOPX	Partners Iii Opportunity	Pair Corr
0.87	WPVLX	Partners Value	Pair Corr

Moving against Partners Mutual Fund

0.73	SAFEX	Weitz Ultra Short	Pair Corr
0.7	WSHNX	Short Duration Income	Pair Corr
0.62	WEFIX	Short Duration Income	Pair Corr
0.6	WNTFX	Nebraska Tax Free	Pair Corr
0.5	WCPNX	Core Plus Income	Pair Corr
0.49	WCPBX	Core Plus Income	Pair Corr
0.43	VFIAX	Vanguard 500 Index	Pair Corr
0.39	VTSAX	Vanguard Total Stock	Pair Corr
0.39	VSMPX	Vanguard Total Stock	Pair Corr
0.39	VSTSX	Vanguard Total Stock	Pair Corr
0.37	VTSMX	Vanguard Total Stock	Pair Corr
0.37	VITSX	Vanguard Total Stock	Pair Corr
0.71	VCMDX	Vanguard Commodity	Pair Corr
0.65	DHYAX	Dreyfus High Yield	Pair Corr
0.58	ITAAX	Transamerica Short Term	Pair Corr
0.51	SECIX	Guggenheim Large Cap	Pair Corr
0.48	MPIBX	Bny Mellon Intermediate	Pair Corr
0.47	GIBRX	Guggenheim Total Return	Pair Corr
0.45	VFFSX	Vanguard 500 Index	Pair Corr
0.44	LCCMX	Leader Short Term	Pair Corr
0.43	VFINX	Vanguard 500 Index	Pair Corr
0.43	VINIX	Vanguard Institutional	Pair Corr
0.43	VIIIX	Vanguard Institutional	Pair Corr
0.42	KADAX	Kensington Active	Pair Corr
0.41	APWEX	World Energy	Pair Corr

Related Correlations Analysis

	SAFEX	WSHNX	WBALX	WBAIX	WCPBX	WCPNX	WVAIX	WVALX	WEFIX	WNTFX
SAFEX		0.76	-0.46	-0.42	0.83	0.84	-0.65	-0.68	0.94	0.83	SAFEX
WSHNX	0.76		-0.25	-0.36	0.64	0.64	-0.62	-0.53	0.7	0.59	WSHNX
WBALX	-0.46	-0.25		0.6	-0.23	-0.24	0.45	0.8	-0.39	-0.51	WBALX
WBAIX	-0.42	-0.36	0.6		-0.25	-0.25	0.79	0.62	-0.31	-0.42	WBAIX
WCPBX	0.83	0.64	-0.23	-0.25		1.0	-0.41	-0.37	0.89	0.87	WCPBX
WCPNX	0.84	0.64	-0.24	-0.25	1.0		-0.42	-0.37	0.89	0.88	WCPNX
WVAIX	-0.65	-0.62	0.45	0.79	-0.41	-0.42		0.78	-0.53	-0.47	WVAIX
WVALX	-0.68	-0.53	0.8	0.62	-0.37	-0.37	0.78		-0.57	-0.54	WVALX
WEFIX	0.94	0.7	-0.39	-0.31	0.89	0.89	-0.53	-0.57		0.87	WEFIX
WNTFX	0.83	0.59	-0.51	-0.42	0.87	0.88	-0.47	-0.54	0.87		WNTFX
	SAFEX	WSHNX	WBALX	WBAIX	WCPBX	WCPNX	WVAIX	WVALX	WEFIX	WNTFX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

WCPNX	+ 1.0	WCPBX
WEFIX	+ 0.94	SAFEX
WEFIX	+ 0.89	WCPBX
WEFIX	+ 0.89	WCPNX
WNTFX	+ 0.88	WCPNX
WNTFX	+ 0.87	WCPBX

High negative correlations

WVALX	- 0.68	SAFEX
WVAIX	- 0.65	SAFEX
WVAIX	- 0.62	WSHNX
WEFIX	- 0.57	WVALX
WNTFX	- 0.54	WVALX
WEFIX	- 0.53	WVAIX

Risk-Adjusted Indicators

There is a big difference between Partners Mutual Fund performing well and Partners Value 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 Partners Value'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SAFEX	0.03	0.01	0.00	(0.43)	0.00	0.00	0.00	0.40
WSHNX	0.06	0.01	(0.39)	0.62	(0.15)	0.17	(0.08)	0.50
WBALX	0.25	(0.03)	0.00	(0.03)	0.00	0.53	(0.41)	1.52
WBAIX	0.24	(0.02)	0.00	0.66	0.00	0.47	(0.47)	1.52
WCPBX	0.17	0.03	(0.05)	0.83	(0.22)	0.41	(0.31)	0.93
WCPNX	0.16	0.03	(0.05)	0.77	(0.21)	0.31	(0.31)	0.93
WVAIX	0.60	(0.08)	0.00	3.33	0.00	0.95	(1.49)	4.71
WVALX	0.63	(0.09)	0.00	(0.05)	0.00	1.31	(1.48)	4.72
WEFIX	0.06	0.01	(0.38)	(1.64)	(0.15)	0.17	(0.08)	0.50
WNTFX	0.06	0.01	(0.27)	2.87	(0.11)	0.10	(0.10)	0.31

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