Ultimus Managers Correlations

Mutual Funds . USA . 
Fund . Ultimus Managers Trust
WWMCX Fund  USD 11.68  0.12  1.04%   
The current 90-days correlation between Ultimus Managers Trust and Alger Health Sciences is 0.6 (i.e., Poor diversification). The correlation of Ultimus Managers 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.

Ultimus Managers Correlation With Market

Very poor diversification

The correlation between Ultimus Managers Trust and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ultimus Managers Trust 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 Ultimus Managers Trust. 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 main economic indicators.

Moving together with Ultimus Mutual Fund

  0.71WSDAX Westwood Short DurationPairCorr
  0.99WWICX Westwood Income OppoPairCorr
  0.72WWIAX Westwood Income OppoPairCorr
  0.96WWLAX Westwood Largecap ValuePairCorr
  1.0WWSMX Westwood Quality SmidcapPairCorr
  0.99WWSYX Westwood Quality SmallcapPairCorr
  0.71WHGSX Westwood Smallcap ValuePairCorr
  0.99WHGQX Westwood Quality ValuePairCorr
  0.97WHGCX Westwood Quality SmallcapPairCorr
  0.97WHGAX Westwood Quality SmallcapPairCorr
  1.0WHGMX Westwood SmidcapPairCorr
  0.73WHGLX Westwood Largecap ValuePairCorr
  0.71WHGIX Westwood Income OppoPairCorr
  0.98WHGHX Westwood Short DurationPairCorr
  0.96WMNUX Westwood Market NeutralPairCorr
  0.96WMNAX Westwood AlternativePairCorr
  0.96WMNIX Westwood Market NeutralPairCorr
  0.97WQAIX Westwood Quality AllcapPairCorr
  0.99WQAUX Westwood Quality AllcapPairCorr
  0.98VMVAX Vanguard Mid CapPairCorr
  0.99JVMAX John Hancock DisciplinedPairCorr
  0.99JVMIX John Hancock DisciplinedPairCorr
  0.98VMVIX Vanguard Mid CapPairCorr
  0.97JMVZX Jpmorgan Mid CapPairCorr
  0.97JMVRX Jpmorgan Mid CapPairCorr
  0.97JMVQX Jpmorgan Mid CapPairCorr
  0.97JMVYX Jpmorgan Mid CapPairCorr
  0.97JMVPX Jpmorgan Mid CapPairCorr
  0.96VETAX Victory Sycamore EstPairCorr
  0.96PDI Pimco Dynamic IncomePairCorr
  0.95FTCAX Templeton Strained BondPairCorr
  0.99TSAIX Tiaa Cref LifestylePairCorr

Moving against Ultimus Mutual Fund

  0.97USPSX Profunds UltrashortPairCorr
  0.97UIPIX Ultrashort Mid CapPairCorr
  0.96USPIX Profunds UltrashortPairCorr
  0.77TCTGX Transamerica CleartrackPairCorr
  0.77TCTJX Transamerica CleartrackPairCorr
  0.76TDKTX Cleartrack 2015 ClassPairCorr
  0.75TCSUX Cleartrack 2020 ClassPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Ultimus Mutual Fund performing well and Ultimus Managers 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 Ultimus Managers' 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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