Brandes International Correlations

BINCX Fund

USD 18.02 0.04 0.22%

The current 90-days correlation between Brandes International and Vanguard Short Term Federal is 0.16 (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.

Brandes International Correlation With Market

Very weak diversification

The correlation between Brandes International Small and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brandes International Small 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 Small. 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

0.66	BEMIX	Brandes Emerging Markets	Pair Corr
0.66	BEMAX	Brandes Emerging Markets	Pair Corr
0.65	BEMRX	Brandes Emerging Markets	Pair Corr
0.69	BIERX	Brandes International	Pair Corr
0.77	BIECX	Brandes International	Pair Corr
0.78	BIEAX	Brandes International	Pair Corr
0.7	BIIEX	Brandes International	Pair Corr
0.81	BISMX	Brandes International	Pair Corr
0.81	BISAX	Brandes International	Pair Corr
0.81	BISRX	Brandes International	Pair Corr
0.86	DISVX	Dfa International Small	Pair Corr
0.83	DFVQX	Dfa International Vector	Pair Corr
0.88	FMNEX	Free Market International	Pair Corr
0.74	OANEX	Oakmark International	Pair Corr
0.68	KGGIX	Kopernik Global All	Pair Corr
0.68	KGGAX	Kopernik Global All	Pair Corr
0.74	OAZEX	Oakmark International	Pair Corr
0.74	OAKEX	Oakmark International	Pair Corr
0.74	OAYEX	Oakmark International	Pair Corr
0.76	IIF	Morgan Stanley India	Pair Corr
0.75	IFN	India Closed	Pair Corr

Moving against Brandes Mutual Fund

0.4	CLM	Cornerstone Strategic	Pair Corr
0.33	CRF	Cornerstone Strategic	Pair Corr

Related Correlations Analysis

	VSGBX	AOUNX	CDICX	OWSBX	JSNIX	ASCLX	FSHIX	RSDIX
VSGBX		-0.34	0.96	0.92	0.71	-0.61	0.57	0.74	VSGBX
AOUNX	-0.34		-0.11	-0.1	0.36	0.77	0.2	0.29	AOUNX
CDICX	0.96	-0.11		0.94	0.86	-0.41	0.65	0.85	CDICX
OWSBX	0.92	-0.1	0.94		0.78	-0.35	0.63	0.81	OWSBX
JSNIX	0.71	0.36	0.86	0.78		0.0	0.69	0.89	JSNIX
ASCLX	-0.61	0.77	-0.41	-0.35	0.0		-0.05	-0.11	ASCLX
FSHIX	0.57	0.2	0.65	0.63	0.69	-0.05		0.73	FSHIX
RSDIX	0.74	0.29	0.85	0.81	0.89	-0.11	0.73		RSDIX
	VSGBX	AOUNX	CDICX	OWSBX	JSNIX	ASCLX	FSHIX	RSDIX

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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

CDICX	+ 0.96	VSGBX
OWSBX	+ 0.94	CDICX
OWSBX	+ 0.92	VSGBX
RSDIX	+ 0.89	JSNIX
JSNIX	+ 0.86	CDICX
RSDIX	+ 0.85	CDICX

High negative correlations

ASCLX	- 0.61	VSGBX
ASCLX	- 0.41	CDICX
ASCLX	- 0.35	OWSBX
AOUNX	- 0.34	VSGBX
RSDIX	- 0.11	ASCLX
CDICX	- 0.11	AOUNX

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
VSGBX	0.10	0.00	(0.76)	0.19	0.11	(0.14)	0.20	(0.20)	0.78
AOUNX	0.05	0.01	(0.97)	(0.56)	0.00	(0.22)	0.10	(0.10)	0.61
CDICX	0.09	0.00	(0.92)	0.20	0.05	(0.12)	0.26	(0.13)	0.64
OWSBX	0.08	0.00	(0.92)	0.20	0.05	(0.12)	0.20	(0.10)	0.49
JSNIX	0.08	0.00	(0.85)	(0.19)	0.00	(0.17)	0.21	(0.11)	0.64
ASCLX	0.37	0.00	(0.09)	0.11	0.37	(0.41)	0.77	(0.93)	2.91
FSHIX	0.07	(0.01)	(0.53)	(0.10)	0.05	(0.14)	0.20	(0.20)	0.80
RSDIX	0.08	0.00	(0.82)	(0.21)	0.00	(0.16)	0.21	(0.10)	0.72

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