Brandes Small Correlations

BSCAX Fund

USD 17.79 0.08 0.45%

The current 90-days correlation between Brandes Small Cap and Pgim Jennison Diversified is 0.57 (i.e., Very weak diversification). The correlation of Brandes Small 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 Small Correlation With Market

Very poor diversification

The correlation between Brandes Small Cap and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brandes Small Cap 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 Small Cap. 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 nation.

Moving together with Brandes Mutual Fund

0.97	BSCRX	Brandes Small Cap	Pair Corr
1.0	BSCMX	Brandes Small Cap	Pair Corr
0.64	BGEAX	Brandes Global Equity	Pair Corr
0.64	BGVIX	Brandes Global Equity	Pair Corr
0.62	BGVCX	Brandes Global Equity	Pair Corr
0.9	VSIIX	Vanguard Small Cap	Pair Corr
0.93	VISVX	Vanguard Small Cap	Pair Corr
0.97	DFSVX	Us Small Cap	Pair Corr
0.96	DFFVX	Us Targeted Value	Pair Corr
0.95	UBVCX	Undiscovered Managers	Pair Corr
0.96	UBVAX	Undiscovered Managers	Pair Corr
0.96	UBVSX	Undiscovered Managers	Pair Corr
0.95	AVFIX	American Beacon Small	Pair Corr
0.89	FLACX	Fidelity Stock Selector	Pair Corr
0.83	INDEX	Sp 500 Equal	Pair Corr

Moving against Brandes Mutual Fund

0.72	BIECX	Brandes International	Pair Corr
0.71	BIERX	Brandes International	Pair Corr
0.71	BIEAX	Brandes International	Pair Corr
0.69	BIIEX	Brandes International	Pair Corr
0.63	BCPRX	Brandes E Plus	Pair Corr
0.63	BCPIX	Brandes E Plus	Pair Corr
0.62	BCPAX	Brandes E Plus	Pair Corr
0.58	NHS	Neuberger Berman High	Pair Corr
0.56	SMARX	Brandes Separately	Pair Corr
0.34	PFHCX	Pacific Funds Small	Pair Corr

Related Correlations Analysis

	TBDQX	GUDAX	PASVX	DTICX	MDBLX	HUDEX	TSMUX
TBDQX		0.0	0.87	-0.16	-0.56	0.81	0.91	TBDQX
GUDAX	0.0		0.0	0.0	0.0	0.0	0.0	GUDAX
PASVX	0.87	0.0		-0.24	-0.49	0.8	0.99	PASVX
DTICX	-0.16	0.0	-0.24		0.76	-0.37	-0.23	DTICX
MDBLX	-0.56	0.0	-0.49	0.76		-0.58	-0.53	MDBLX
HUDEX	0.81	0.0	0.8	-0.37	-0.58		0.82	HUDEX
TSMUX	0.91	0.0	0.99	-0.23	-0.53	0.82		TSMUX
	TBDQX	GUDAX	PASVX	DTICX	MDBLX	HUDEX	TSMUX

Click cells to compare fundamentals

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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

TSMUX	+ 0.99	PASVX
TSMUX	+ 0.91	TBDQX
PASVX	+ 0.87	TBDQX
TSMUX	+ 0.82	HUDEX
HUDEX	+ 0.81	TBDQX
HUDEX	+ 0.8	PASVX

High negative correlations

HUDEX	- 0.58	MDBLX
MDBLX	- 0.56	TBDQX
TSMUX	- 0.53	MDBLX
MDBLX	- 0.49	PASVX
HUDEX	- 0.37	DTICX
DTICX	- 0.24	PASVX

Risk-Adjusted Indicators

There is a big difference between Brandes Mutual Fund performing well and Brandes Small 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 Small'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
TBDQX	0.74	(0.01)	(0.01)	0.11	1.10	(0.67)	1.67	(2.39)	5.04
GUDAX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PASVX	0.76	(0.02)	0.02	0.11	0.71	(0.81)	1.74	(1.22)	6.47
DTICX	0.08	0.00	(0.75)	(0.21)	0.00	(0.15)	0.13	(0.13)	0.64
MDBLX	0.22	0.00	(0.39)	0.21	0.27	(0.26)	0.37	(0.60)	1.35
HUDEX	0.68	0.06	(0.06)	0.94	0.73	(0.74)	1.58	(1.15)	5.46
TSMUX	0.77	0.03	0.06	0.14	0.75	(0.87)	1.73	(1.39)	5.63

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