Brandes International Correlations

BIEEX Fund

USD 17.28 0.07 0.40%

The current 90-days correlation between Brandes International and Blackrock California Municipal is 0.19 (i.e., Average diversification). The correlation of Brandes International 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.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Brandes International 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 income.

Moving together with Brandes Mutual Fund

0.68	MKCMX	Blackrock California	Pair Corr
0.82	MKFOX	Blackrock Large Cap	Pair Corr
0.7	MKILX	Blackrock International	Pair Corr
0.68	MKMTX	Blackrock Strategic	Pair Corr
0.63	MKNKX	Blackrock New York	Pair Corr
0.62	BRBCX	Blackrock Tactical	Pair Corr
0.61	MKPYX	Blackrock Pennsylvania	Pair Corr
0.88	BRGNX	Blckrck Fdsiii Rssll	Pair Corr
0.88	BRGKX	Blckrck Fds Iii	Pair Corr
0.88	BRGAX	Blckrck Fdsiii Rssll	Pair Corr
0.69	BRIAX	Blackrock Retirement	Pair Corr
0.78	BRHYX	Blackrock Hi Yld	Pair Corr
0.77	MKSPX	Blackrock Advantage Total	Pair Corr
0.7	BRIDX	Blackrock Retirement	Pair Corr
0.71	BRIEX	Blackrock Retirement	Pair Corr
0.7	BRICX	Blackrock Retirement	Pair Corr
0.85	BRMPX	Blackrock Moderate	Pair Corr

Moving against Brandes Mutual Fund

0.54	BRECX	Blackrock International	Pair Corr
0.52	BREAX	Blackrock International	Pair Corr
0.51	BREKX	Blackrock International	Pair Corr

Related Correlations Analysis

	MKCMX	MKCPX	MKEFX	MKECX	MKDCX	MKDVX	MKGCX	MKFOX	MKILX	BRAPX
MKCMX		0.57	-0.12	0.15	-0.14	0.28	0.24	0.48	0.52	0.48	MKCMX
MKCPX	0.57		-0.03	0.8	0.56	0.77	0.76	0.02	0.41	0.93	MKCPX
MKEFX	-0.12	-0.03		-0.07	0.12	-0.09	-0.19	0.21	0.65	-0.2	MKEFX
MKECX	0.15	0.8	-0.07		0.84	0.77	0.83	-0.42	0.11	0.8	MKECX
MKDCX	-0.14	0.56	0.12	0.84		0.45	0.53	-0.32	0.08	0.6	MKDCX
MKDVX	0.28	0.77	-0.09	0.77	0.45		0.97	-0.29	0.05	0.7	MKDVX
MKGCX	0.24	0.76	-0.19	0.83	0.53	0.97		-0.36	-0.04	0.73	MKGCX
MKFOX	0.48	0.02	0.21	-0.42	-0.32	-0.29	-0.36		0.52	-0.06	MKFOX
MKILX	0.52	0.41	0.65	0.11	0.08	0.05	-0.04	0.52		0.25	MKILX
BRAPX	0.48	0.93	-0.2	0.8	0.6	0.7	0.73	-0.06	0.25		BRAPX
	MKCMX	MKCPX	MKEFX	MKECX	MKDCX	MKDVX	MKGCX	MKFOX	MKILX	BRAPX

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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

MKGCX	+ 0.97	MKDVX
BRAPX	+ 0.93	MKCPX
MKDCX	+ 0.84	MKECX
MKGCX	+ 0.83	MKECX
MKECX	+ 0.8	MKCPX
BRAPX	+ 0.8	MKECX

High negative correlations

MKFOX	- 0.42	MKECX
MKFOX	- 0.36	MKGCX
MKFOX	- 0.32	MKDCX
MKFOX	- 0.29	MKDVX
BRAPX	- 0.2	MKEFX
MKGCX	- 0.19	MKEFX

Risk-Adjusted Indicators

There is a big difference between Brandes Mutual Fund performing well and Brandes International 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 International'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
MKCMX	0.14	0.00	(0.31)	0.03	0.15	(0.21)	0.42	(0.33)	1.09
MKCPX	0.38	(0.05)	0.00	(0.13)	0.00	0.00	0.77	(0.97)	3.37
MKEFX	0.73	0.05	(0.03)	2.48	0.96	(0.74)	1.63	(1.61)	4.41
MKECX	0.72	(0.17)	0.00	(0.25)	0.00	0.00	1.14	(1.98)	4.38
MKDCX	0.67	(0.12)	0.00	(0.67)	0.00	0.00	1.41	(1.76)	4.20
MKDVX	0.59	(0.09)	0.00	(0.13)	0.00	0.00	1.15	(0.95)	7.49
MKGCX	0.73	(0.17)	0.00	(0.30)	0.00	0.00	1.14	(1.60)	12.71
MKFOX	0.97	0.09	0.00	(1.31)	1.42	(0.98)	1.83	(2.49)	6.74
MKILX	0.61	0.04	(0.03)	0.24	0.77	(0.62)	1.32	(1.28)	4.20
BRAPX	0.58	(0.09)	0.00	(0.25)	0.00	0.00	1.04	(1.41)	7.07

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Brandes International Correlations

Moving together with Brandes Mutual Fund

Moving against Brandes Mutual Fund

Related Correlations Analysis

Correlation Matchups

Risk-Adjusted Indicators

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