Cambiar Smid Correlations

CAMMX Fund

USD 25.15 0.20 0.79%

The current 90-days correlation between Cambiar Smid and Virtus Multi Sector Short is 0.14 (i.e., Average diversification). The correlation of Cambiar Smid 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.

Cambiar Smid Correlation With Market

Very poor diversification

The correlation between Cambiar Smid Fund 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 Cambiar Smid Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cambiar Smid 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 population.

Moving together with Cambiar Mutual Fund

0.77	CAMZX	Cambiar Small Cap	Pair Corr
0.85	CAMWX	Cambiar Opportunity	Pair Corr
1.0	CAMUX	Cambiar Smid	Pair Corr
0.83	CAMSX	Cambiar Small Cap	Pair Corr
0.75	CAMOX	Cambiar Opportunity	Pair Corr
0.83	VIMAX	Vanguard Mid Cap	Pair Corr
0.83	VIMSX	Vanguard Mid Cap	Pair Corr
0.77	VMCPX	Vanguard Mid Cap	Pair Corr
0.83	VMCIX	Vanguard Mid Cap	Pair Corr
0.77	VEXAX	Vanguard Extended Market	Pair Corr
0.81	VEMPX	Vanguard Extended Market	Pair Corr
0.77	VIEIX	Vanguard Extended Market	Pair Corr
0.81	VSEMX	Vanguard Extended Market	Pair Corr
0.81	VEXMX	Vanguard Extended Market	Pair Corr
0.76	FSMAX	Fidelity Extended Market	Pair Corr
0.61	IVHIX	Ivy High Income	Pair Corr
0.62	ACP	Aberdeen Income Credit	Pair Corr
0.73	VFINX	Vanguard 500 Index	Pair Corr
0.85	GVCAX	Gabelli Value	Pair Corr
0.69	RGGEX	American Funds Global	Pair Corr
0.73	AMGOX	Alger Mid Cap	Pair Corr
0.66	FSUTX	Utilities Portfolio	Pair Corr
0.67	CLM	Cornerstone Strategic	Pair Corr
0.79	ELFNX	Elfun Trusts Elfun	Pair Corr
0.84	AMECX	Income Fund	Pair Corr

Moving against Cambiar Mutual Fund

0.38	CAMYX	Cambiar International	Pair Corr
0.38	CAMIX	Cambiar International	Pair Corr

Related Correlations Analysis

	VMSSX	AOUNX	CMGUX	QLENX	ATOAX	TSDCX	SNORX
VMSSX		0.2	0.1	0.26	0.02	0.31	0.04	VMSSX
AOUNX	0.2		0.97	0.75	0.95	0.92	0.72	AOUNX
CMGUX	0.1	0.97		0.79	0.99	0.93	0.78	CMGUX
QLENX	0.26	0.75	0.79		0.79	0.87	0.7	QLENX
ATOAX	0.02	0.95	0.99	0.79		0.91	0.78	ATOAX
TSDCX	0.31	0.92	0.93	0.87	0.91		0.7	TSDCX
SNORX	0.04	0.72	0.78	0.7	0.78	0.7		SNORX
	VMSSX	AOUNX	CMGUX	QLENX	ATOAX	TSDCX	SNORX

Click cells to compare fundamentals

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Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Cambiar Mutual Fund performing well and Cambiar Smid 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 Cambiar Smid'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
VMSSX	0.06	(0.01)	(0.50)	(0.18)	0.01	(0.24)	0.22	(0.22)	0.66
AOUNX	0.05	0.00	(1.00)	1.17	0.00	(0.18)	0.10	(0.10)	0.61
CMGUX	0.04	0.01	0.00	5.40	0.00	0.00	0.11	0.00	0.65
QLENX	0.37	0.11	(0.02)	(7.55)	0.23	(0.45)	0.84	(0.57)	2.17
ATOAX	0.02	0.00	0.00	(0.47)	0.00	0.00	0.00	0.00	0.40
TSDCX	0.06	0.01	(0.90)	8.20	0.00	(0.18)	0.11	(0.11)	0.55
SNORX	0.60	(0.08)	(0.09)	0.03	0.88	(0.68)	1.29	(1.00)	7.91

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