Brandes International Correlations

BIIEX Fund

USD 21.58 0.07 0.32%

The current 90-days correlation between Brandes International and Tcm Small Cap is 0.38 (i.e., Weak 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.

Brandes International Correlation With Market

Weak diversification

The correlation between Brandes International Equity and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brandes International 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 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

0.66	BCPRX	Brandes E Plus	Pair Corr
0.63	BCPIX	Brandes E Plus	Pair Corr
0.62	BCPAX	Brandes E Plus	Pair Corr
0.99	BIERX	Brandes International	Pair Corr
0.99	BIECX	Brandes International	Pair Corr
0.99	BIEAX	Brandes International	Pair Corr
0.8	BINCX	Brandes International	Pair Corr
0.77	BISMX	Brandes International	Pair Corr
0.77	BISAX	Brandes International	Pair Corr
0.76	BISRX	Brandes International	Pair Corr
0.85	DOXFX	Dodge Cox International	Pair Corr
0.98	OANIX	Oakmark International	Pair Corr
0.85	DODFX	Dodge International Stock	Pair Corr
0.98	OAKIX	Oakmark International	Pair Corr
0.98	OAYIX	Oakmark International	Pair Corr
0.98	OAZIX	Oakmark International	Pair Corr
0.94	FINVX	Fidelity Series Inte	Pair Corr
0.96	VTRIX	Vanguard International	Pair Corr
0.92	RRIGX	T Rowe Price	Pair Corr
0.96	BTMPX	Ishares Msci Eafe	Pair Corr
0.96	BTMKX	Blackrock International	Pair Corr
0.96	MDIIX	Blackrock Intern Index	Pair Corr

Moving against Brandes Mutual Fund

0.71	BSCRX	Brandes Small Cap	Pair Corr
0.69	BSCMX	Brandes Small Cap	Pair Corr
0.69	BSCAX	Brandes Small Cap	Pair Corr
0.77	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.76	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.76	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.76	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.49	ASTZX	Astor Long/short	Pair Corr
0.48	FSMMX	Fs Multi Strategy	Pair Corr
0.48	VFIAX	Vanguard 500 Index	Pair Corr

Related Correlations Analysis

	TCMSX	VFSIX	GGOIX	DFSVX	PSVIX
TCMSX		-0.39	0.92	0.96	0.96	TCMSX
VFSIX	-0.39		-0.43	-0.42	-0.37	VFSIX
GGOIX	0.92	-0.43		0.89	0.89	GGOIX
DFSVX	0.96	-0.42	0.89		0.99	DFSVX
PSVIX	0.96	-0.37	0.89	0.99		PSVIX
	TCMSX	VFSIX	GGOIX	DFSVX	PSVIX

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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

PSVIX	+ 0.99	DFSVX
DFSVX	+ 0.96	TCMSX
PSVIX	+ 0.96	TCMSX
GGOIX	+ 0.92	TCMSX
DFSVX	+ 0.89	GGOIX
PSVIX	+ 0.89	GGOIX

High negative correlations

GGOIX	- 0.43	VFSIX
DFSVX	- 0.42	VFSIX
VFSIX	- 0.39	TCMSX
PSVIX	- 0.37	VFSIX

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
TCMSX	0.93	(0.01)	0.04	0.11	1.05	(1.05)	2.08	(1.91)	7.17
VFSIX	0.12	0.00	(0.73)	0.13	0.12	(0.15)	0.29	(0.19)	0.77
GGOIX	0.78	0.27	0.20	1.56	0.49	(1.00)	2.03	(1.04)	4.53
DFSVX	0.91	(0.05)	0.01	0.09	0.85	(1.10)	1.93	(1.42)	8.30
PSVIX	0.81	(0.04)	(0.02)	0.08	0.73	(1.00)	1.71	(1.38)	6.64

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