International Smaller Correlations

BICKX Fund

USD 12.27 0.08 0.66%

The current 90-days correlation between The International Smaller and Short Oil Gas is -0.16 (i.e., Good diversification). The correlation of International Smaller 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.

International Smaller Correlation With Market

Good diversification

The correlation between The International Smaller and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The International Smaller 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 The International Smaller. 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 industry.

Moving together with International Mutual Fund

0.95	BSGPX	Eafe Pure	Pair Corr
0.89	BGCWX	Baillie Gifford Eafe	Pair Corr
0.89	BGCSX	Eafe Choice	Pair Corr
0.88	BGCJX	Baillie Gifford Eafe	Pair Corr
0.84	BGEZX	Baillie Gifford Emerging	Pair Corr
0.84	BGEWX	Baillie Gifford Emerging	Pair Corr
0.64	BGEPX	Baillie Gifford Emerging	Pair Corr
0.64	BGELX	Emerging Markets	Pair Corr
0.66	BGEGX	Baillie Gifford Emerging	Pair Corr
0.66	BGEHX	Baillie Gifford Emerging	Pair Corr
0.64	BGEDX	Baillie Gifford Emerging	Pair Corr
0.78	BGHDX	Baillie Gifford Health	Pair Corr
0.79	BGHBX	Baillie Gifford Health	Pair Corr
0.87	BGIUX	Baillie Gifford Inte	Pair Corr
0.81	BGIVX	Baillie Gifford Inte	Pair Corr
0.81	BGITX	Baillie Gifford Inte	Pair Corr
0.86	BGIKX	The International Equity	Pair Corr
0.87	BGIFX	Baillie Gifford Inte	Pair Corr
0.65	BGKEX	Emerging Markets	Pair Corr
0.95	BGPKX	Eafe Pure	Pair Corr

Moving against International Mutual Fund

0.54	BGGSX	Equity Growth	Pair Corr
0.33	BSGLX	Long Term	Pair Corr
0.37	BGUKX	Baillie Gifford Discovery	Pair Corr
0.37	BGUIX	Baillie Gifford Discovery	Pair Corr
0.33	BGLTX	Baillie Gifford	Pair Corr
0.33	BGLKX	Long Term	Pair Corr

Related Correlations Analysis

	SNPIX	ENPSX	ICBAX	SBMBX	FNCRX	DLDCX	APWEX
SNPIX		-0.93	-0.78	-0.63	-0.87	-0.78	-0.86	SNPIX
ENPSX	-0.93		0.84	0.7	0.81	0.86	0.9	ENPSX
ICBAX	-0.78	0.84		0.61	0.72	0.83	0.89	ICBAX
SBMBX	-0.63	0.7	0.61		0.85	0.92	0.6	SBMBX
FNCRX	-0.87	0.81	0.72	0.85		0.89	0.77	FNCRX
DLDCX	-0.78	0.86	0.83	0.92	0.89		0.82	DLDCX
APWEX	-0.86	0.9	0.89	0.6	0.77	0.82		APWEX
	SNPIX	ENPSX	ICBAX	SBMBX	FNCRX	DLDCX	APWEX

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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

DLDCX	+ 0.92	SBMBX
APWEX	+ 0.9	ENPSX
APWEX	+ 0.89	ICBAX
DLDCX	+ 0.89	FNCRX
DLDCX	+ 0.86	ENPSX
FNCRX	+ 0.85	SBMBX

High negative correlations

ENPSX	- 0.93	SNPIX
FNCRX	- 0.87	SNPIX
APWEX	- 0.86	SNPIX
DLDCX	- 0.78	SNPIX
ICBAX	- 0.78	SNPIX
SBMBX	- 0.63	SNPIX

Risk-Adjusted Indicators

There is a big difference between International Mutual Fund performing well and International Smaller 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 International Smaller'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
SNPIX	0.91	(0.14)	0.00	(7.43)	0.00	0.00	2.04	(1.71)	6.81
ENPSX	1.41	0.00	0.00	0.12	1.94	(1.35)	2.58	(3.15)	7.85
ICBAX	0.79	0.00	0.03	0.12	0.73	(0.90)	1.49	(1.24)	6.37
SBMBX	0.75	(0.07)	(0.10)	0.01	1.10	(0.70)	1.34	(1.63)	3.99
FNCRX	0.77	0.07	(0.04)	4.23	1.03	(0.79)	1.60	(1.81)	5.15
DLDCX	0.90	(0.06)	(0.05)	0.05	1.31	(0.88)	1.58	(2.05)	4.99
APWEX	0.89	0.06	0.04	0.17	1.03	(0.94)	1.83	(1.79)	5.06

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