Causeway Emerging Correlations

Mutual Funds . USA . 
Fund . Causeway Emerging Markets
CEMVX Fund  USD 11.49  0.05  0.43%   
The current 90-days correlation between Causeway Emerging Markets and Vanguard Emerging Markets is 0.96 (i.e., Almost no diversification). The correlation of Causeway Emerging 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.

Causeway Emerging Correlation With Market

Weak diversification

The correlation between Causeway Emerging Markets and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Causeway Emerging Markets 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 Causeway Emerging Markets. 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 real.

Moving together with Causeway Mutual Fund

  0.8CVISX Causeway InternationalPairCorr
  1.0CEMIX Causeway Emerging MarketsPairCorr
  0.75CGVVX Causeway Global ValuePairCorr
  0.76CGVIX Causeway Global ValuePairCorr
  0.81CIISX Causeway InternationalPairCorr
  0.78CIOIX Causeway InternationalPairCorr
  0.78CIOVX Causeway InternationalPairCorr
  0.98VEMAX Vanguard Emerging MarketsPairCorr
  0.98VEIEX Vanguard Emerging MarketsPairCorr
  0.98VEMIX Vanguard Emerging MarketsPairCorr
  0.98VEMRX Vanguard Emerging MarketsPairCorr
  0.92FWWNX American Funds NewPairCorr
  0.92FNFWX American Funds NewPairCorr
  0.95NEWFX New World FundPairCorr
  0.95NWFFX New World FundPairCorr
  0.95NEWCX New World FundPairCorr
  0.95ODVYX Oppenheimer DevelopingPairCorr
  0.77VTISX Vanguard Total InterPairCorr
  0.77VTSNX Vanguard Total InterPairCorr
  0.77VTPSX Vanguard Total InterPairCorr
  0.66AALTX American Funds 2050PairCorr
  0.76TAIAX American Funds TaxPairCorr
  0.83MCSMX Matthews China SmallPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Causeway Mutual Fund performing well and Causeway Emerging 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 Causeway Emerging'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VEMAX  0.71 (0.03)(0.12) 0.04  0.85 
(0.78)
 1.57 
(1.68)
 4.60 
VEIEX  0.71 (0.03)(0.12) 0.04  0.85 
(0.78)
 1.55 
(1.68)
 4.60 
VEMIX  0.70 (0.03)(0.12) 0.04  0.84 
(0.78)
 1.56 
(1.69)
 4.60 
VEMRX  0.70 (0.03)(0.12) 0.04  0.84 
(0.78)
 1.56 
(1.68)
 4.58 
FWWNX  0.55 (0.01) 0.00  0.35  0.00 
 0.00 
 1.26 
(1.31)
 3.79 
FNFWX  0.55 (0.01) 0.00  0.36  0.00 
 0.00 
 1.26 
(1.31)
 3.79 
NEWFX  0.55 (0.08) 0.00 (0.05) 0.00 
 0.00 
 1.25 
(1.31)
 3.79 
NWFFX  0.55 (0.08) 0.00 (0.05) 0.00 
 0.00 
 1.26 
(1.31)
 3.78 
NEWCX  0.55 (0.08) 0.00 (0.06) 0.00 
 0.00 
 1.26 
(1.31)
 3.77 
ODVYX  0.75 (0.11) 0.00 (0.13) 0.00 
 0.00 
 1.48 
(1.75)
 5.31 

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