Wasatch Small Correlations

WIAEX Fund

USD 40.64 1.15 2.91%

The correlation of Wasatch Small 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.

Wasatch Small Correlation With Market

Very poor diversification

The correlation between Wasatch Small Cap and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wasatch Small Cap 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 Wasatch Small Cap. 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 consumer price index.

Moving together with Wasatch Mutual Fund

1.0	WAAEX	Wasatch Small Cap	Pair Corr
0.7	WAGSX	Wasatch Global Select	Pair Corr
0.86	WAGOX	Wasatch Global Oppor	Pair Corr
0.61	WAIOX	Wasatch International	Pair Corr
0.89	WAMCX	Wasatch Ultra Growth	Pair Corr
0.83	WAUSX	Wasatch Select Investor	Pair Corr
0.89	WGMCX	Wasatch Ultra Growth	Pair Corr
0.91	WGROX	Wasatch E Growth	Pair Corr
0.66	WIIOX	Wasatch International	Pair Corr
0.9	WIGRX	Wasatch E Growth	Pair Corr
0.86	WIGOX	Wasatch Global Oppor	Pair Corr

Related Correlations Analysis

	FMFXX	VSLXX	SMAAX	FMVUX	PAELX	ELBCX	MYMXX
FMFXX		0.0	0.0	0.0	0.0	0.0	0.0	FMFXX
VSLXX	0.0		0.0	0.0	0.0	0.0	0.0	VSLXX
SMAAX	0.0	0.0		0.83	0.93	0.88	0.0	SMAAX
FMVUX	0.0	0.0	0.83		0.9	0.92	0.0	FMVUX
PAELX	0.0	0.0	0.93	0.9		0.95	0.0	PAELX
ELBCX	0.0	0.0	0.88	0.92	0.95		0.0	ELBCX
MYMXX	0.0	0.0	0.0	0.0	0.0	0.0		MYMXX
	FMFXX	VSLXX	SMAAX	FMVUX	PAELX	ELBCX	MYMXX

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

ELBCX	+ 0.95	PAELX
PAELX	+ 0.93	SMAAX
ELBCX	+ 0.92	FMVUX
PAELX	+ 0.9	FMVUX
ELBCX	+ 0.88	SMAAX
FMVUX	+ 0.83	SMAAX

High negative correlations

MYMXX	- 0.0	ELBCX
MYMXX	- 0.0	PAELX
MYMXX	- 0.0	FMVUX
MYMXX	- 0.0	SMAAX
MYMXX	- 0.0	VSLXX
ELBCX	- 0.0	VSLXX

Risk-Adjusted Indicators

There is a big difference between Wasatch Mutual Fund performing well and Wasatch Small 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 Wasatch Small'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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FMFXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VSLXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SMAAX	0.08	0.02	(0.68)	3.49	0.00	(0.14)	0.20	(0.10)	0.40
FMVUX	0.74	0.02	0.05	0.11	0.71	(0.88)	1.63	(1.37)	3.92
PAELX	0.27	0.05	(0.09)	0.44	0.00	(0.38)	0.63	(0.41)	1.65
ELBCX	0.26	0.05	(0.12)	0.90	0.00	(0.34)	0.48	(0.47)	1.59
MYMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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