Brandes Emerging Correlations

BEMCX Fund

USD 8.58 0.09 1.06%

The current 90-days correlation between Brandes Emerging Markets and Brandes Small Cap is 0.34 (i.e., Weak diversification). The correlation of Brandes Emerging 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.

Brandes Emerging Correlation With Market

Weak diversification

The correlation between Brandes Emerging Markets and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brandes Emerging Markets 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 Brandes Emerging Markets. 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 Brandes Mutual Fund

1.0	BEMIX	Brandes Emerging Markets	Pair Corr
1.0	BEMAX	Brandes Emerging Markets	Pair Corr
1.0	BEMRX	Brandes Emerging Markets	Pair Corr
0.91	BIERX	Brandes International	Pair Corr
0.92	BIECX	Brandes International	Pair Corr
0.91	BIEAX	Brandes International	Pair Corr
0.91	BIIEX	Brandes International	Pair Corr
0.88	VEMAX	Vanguard Emerging Markets	Pair Corr
0.88	VEIEX	Vanguard Emerging Markets	Pair Corr
0.88	VEMIX	Vanguard Emerging Markets	Pair Corr
0.88	VEMRX	Vanguard Emerging Markets	Pair Corr
0.84	FWWNX	American Funds New	Pair Corr
0.84	FNFWX	American Funds New	Pair Corr
0.84	NEWFX	New World Fund	Pair Corr
0.84	NWFFX	New World Fund	Pair Corr
0.84	NEWCX	New World Fund	Pair Corr
0.95	ODVYX	Oppenheimer Developing	Pair Corr
0.73	PFHCX	Pacific Funds Small	Pair Corr
0.78	NHS	Neuberger Berman High	Pair Corr

Moving against Brandes Mutual Fund

0.31	BSCAX	Brandes Small Cap	Pair Corr
0.6	MSSGX	Small Pany Growth	Pair Corr
0.55	ILLLX	Transamerica Capital	Pair Corr
0.35	STBAX	Invesco Short Term	Pair Corr

Related Correlations Analysis

	BSCRX	BSCMX	BSCAX	BCPRX	BCPIX	BCPAX	BEMIX	BEMCX	BEMAX	BEMRX
BSCRX		1.0	0.95	0.4	0.39	0.37	-0.25	-0.26	-0.24	-0.24	BSCRX
BSCMX	1.0		0.95	0.39	0.38	0.36	-0.25	-0.26	-0.24	-0.25	BSCMX
BSCAX	0.95	0.95		0.41	0.4	0.38	-0.3	-0.31	-0.28	-0.29	BSCAX
BCPRX	0.4	0.39	0.41		1.0	0.99	0.39	0.4	0.4	0.4	BCPRX
BCPIX	0.39	0.38	0.4	1.0		1.0	0.39	0.4	0.4	0.4	BCPIX
BCPAX	0.37	0.36	0.38	0.99	1.0		0.42	0.43	0.44	0.43	BCPAX
BEMIX	-0.25	-0.25	-0.3	0.39	0.39	0.42		1.0	1.0	1.0	BEMIX
BEMCX	-0.26	-0.26	-0.31	0.4	0.4	0.43	1.0		1.0	1.0	BEMCX
BEMAX	-0.24	-0.24	-0.28	0.4	0.4	0.44	1.0	1.0		1.0	BEMAX
BEMRX	-0.24	-0.25	-0.29	0.4	0.4	0.43	1.0	1.0	1.0		BEMRX
	BSCRX	BSCMX	BSCAX	BCPRX	BCPIX	BCPAX	BEMIX	BEMCX	BEMAX	BEMRX

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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

BSCMX	+ 1.0	BSCRX
BCPIX	+ 1.0	BCPRX
BCPAX	+ 1.0	BCPIX
BEMCX	+ 1.0	BEMIX
BEMAX	+ 1.0	BEMIX
BEMRX	+ 1.0	BEMIX

High negative correlations

BEMCX	- 0.31	BSCAX
BEMIX	- 0.3	BSCAX
BEMRX	- 0.29	BSCAX
BEMAX	- 0.28	BSCAX
BEMCX	- 0.26	BSCMX
BEMCX	- 0.26	BSCRX

Risk-Adjusted Indicators

There is a big difference between Brandes Mutual Fund performing well and Brandes Emerging 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 Brandes Emerging'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
BSCRX	0.83	0.09	0.05	0.27	0.85	(0.90)	1.82	(1.31)	8.11
BSCMX	0.83	0.09	0.05	0.26	0.84	(0.90)	1.77	(1.17)	8.13
BSCAX	0.82	0.12	0.04	0.98	0.84	(0.92)	1.74	(1.24)	8.20
BCPRX	0.21	(0.02)	0.00	(0.19)	0.00	0.00	0.60	(0.48)	1.45
BCPIX	0.20	(0.02)	0.00	(0.18)	0.00	0.00	0.48	(0.48)	1.21
BCPAX	0.20	(0.02)	0.00	(0.20)	0.00	0.00	0.49	(0.48)	1.22
BEMIX	0.61	(0.07)	0.00	(0.11)	0.00	0.00	1.37	(1.23)	3.56
BEMCX	0.60	(0.07)	0.00	(0.12)	0.00	0.00	1.31	(1.13)	3.62
BEMAX	0.60	(0.07)	0.00	(0.11)	0.00	0.00	1.40	(1.24)	3.58
BEMRX	0.61	(0.07)	0.00	(0.11)	0.00	0.00	1.37	(1.22)	3.42

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