Brandes Global Correlations

Mutual Funds . USA . 
Fund . Brandes Global Equity
BGVCX Fund  USD 31.44  0.03  0.1%   
The current 90-days correlation between Brandes Global Equity and Fidelity Sai Convertible is 0.03 (i.e., Significant diversification). The correlation of Brandes Global 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 Global Correlation With Market

Poor diversification

The correlation between Brandes Global Equity and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brandes Global Equity 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 Global Equity. 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

  0.62BSCMX Brandes Small CapPairCorr
  0.62BSCAX Brandes Small CapPairCorr
  0.62BEMCX Brandes Emerging MarketsPairCorr
  0.63BEMAX Brandes Emerging MarketsPairCorr
  0.63BEMRX Brandes Emerging MarketsPairCorr
  1.0BGEAX Brandes Global EquityPairCorr
  1.0BGVIX Brandes Global EquityPairCorr
  0.62TEDRX Franklin Mutual GlobalPairCorr
  0.65FMDRX Franklin Mutual GlobalPairCorr
  0.78DOXWX Dodge Cox GlobalPairCorr
  0.77DODWX Dodge Global StockPairCorr
  0.72TRZRX T Rowe PricePairCorr
  0.63TEDIX Franklin Mutual GlobalPairCorr
  0.65MDISX Franklin Mutual GlobalPairCorr
  0.71PRAFX T Rowe PricePairCorr
  0.75BEGRX Franklin Mutual BeaconPairCorr

Moving against Brandes Mutual Fund

  0.46BCPAX Brandes E PlusPairCorr
  0.45BCPIX Brandes E PlusPairCorr
  0.41BCPRX Brandes E PlusPairCorr
  0.4GPBFX Gmo E PlusPairCorr
  0.37PQTAX Pimco Trends ManagedPairCorr
  0.37PQTIX Aa Pimco TrPairCorr
  0.36PQTNX Pimco Trends ManagedPairCorr

Related Correlations Analysis

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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   
LCFYX
+ 0.99
VAADX
LCFYX
+ 0.94
FSAWX
VAADX
+ 0.93
FSAWX
AVK
+ 0.53
LCFYX
AVK
+ 0.52
GCV
AVK
+ 0.48
VAADX
  
High negative correlations   
GCV
- 0.44
CCD
AVK
- 0.19
CCD

Risk-Adjusted Indicators

There is a big difference between Brandes Mutual Fund performing well and Brandes Global 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 Global'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.

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