Brandes Global Correlations

BGVIX Fund

USD 32.37 0.03 0.09%

The current 90-days correlation between Brandes Global Equity and Firsthand Alternative Energy is 0.63 (i.e., Poor 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 gross domestic product.

Moving together with Brandes Mutual Fund

0.64	BSCMX	Brandes Small Cap	Pair Corr
0.64	BSCAX	Brandes Small Cap	Pair Corr
0.61	BEMCX	Brandes Emerging Markets	Pair Corr
0.62	BEMAX	Brandes Emerging Markets	Pair Corr
0.62	BEMRX	Brandes Emerging Markets	Pair Corr
1.0	BGEAX	Brandes Global Equity	Pair Corr
1.0	BGVCX	Brandes Global Equity	Pair Corr
0.62	FMDRX	Franklin Mutual Global	Pair Corr
0.76	DOXWX	Dodge Cox Global	Pair Corr
0.76	DODWX	Dodge Global Stock	Pair Corr
0.71	TRZRX	T Rowe Price	Pair Corr
0.61	MDISX	Franklin Mutual Global	Pair Corr
0.69	PRAFX	T Rowe Price	Pair Corr
0.74	BEGRX	Franklin Mutual Beacon	Pair Corr

Moving against Brandes Mutual Fund

0.5	BCPAX	Brandes E Plus	Pair Corr
0.48	BCPIX	Brandes E Plus	Pair Corr
0.45	BCPRX	Brandes E Plus	Pair Corr
0.44	GPBFX	Gmo E Plus	Pair Corr
0.39	PQTAX	Pimco Trends Managed	Pair Corr
0.38	PQTNX	Pimco Trends Managed	Pair Corr
0.38	PQTIX	Aa Pimco Tr	Pair Corr

Related Correlations Analysis

	ALTEX	APWEX	GAMPX	GMOWX	ENPSX	XEMOX	RYVIX
ALTEX		-0.31	-0.49	0.71	-0.27	-0.46	0.21	ALTEX
APWEX	-0.31		0.92	-0.05	0.86	0.89	0.52	APWEX
GAMPX	-0.49	0.92		-0.27	0.84	0.98	0.42	GAMPX
GMOWX	0.71	-0.05	-0.27		0.14	-0.26	0.44	GMOWX
ENPSX	-0.27	0.86	0.84	0.14		0.85	0.69	ENPSX
XEMOX	-0.46	0.89	0.98	-0.26	0.85		0.49	XEMOX
RYVIX	0.21	0.52	0.42	0.44	0.69	0.49		RYVIX
	ALTEX	APWEX	GAMPX	GMOWX	ENPSX	XEMOX	RYVIX

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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

XEMOX	+ 0.98	GAMPX
GAMPX	+ 0.92	APWEX
XEMOX	+ 0.89	APWEX
ENPSX	+ 0.86	APWEX
XEMOX	+ 0.85	ENPSX
ENPSX	+ 0.84	GAMPX

High negative correlations

GAMPX	- 0.49	ALTEX
XEMOX	- 0.46	ALTEX
APWEX	- 0.31	ALTEX
GMOWX	- 0.27	GAMPX
ENPSX	- 0.27	ALTEX
XEMOX	- 0.26	GMOWX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ALTEX	1.32	(0.21)	0.00	(0.08)	0.00	0.00	2.10	(2.74)	7.75
APWEX	0.89	0.05	0.04	0.17	1.01	(0.96)	1.83	(1.79)	5.85
GAMPX	0.73	0.28	0.21	(18.59)	0.35	(0.97)	1.83	(0.89)	4.89
GMOWX	1.05	(0.06)	0.00	2.77	0.00	0.00	1.80	(2.79)	5.49
ENPSX	1.41	0.12	0.00	(5.11)	1.94	(1.35)	2.58	(3.15)	7.85
XEMOX	0.73	0.22	0.13	2.46	0.49	(0.86)	1.68	(1.01)	4.31
RYVIX	1.42	(0.20)	0.00	(0.01)	0.00	0.00	2.63	(3.08)	10.74

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