Delaware Emerging Correlations

DEMAX Fund

USD 32.36 1.15 3.68%

The current 90-days correlation between Delaware Emerging Markets and Fidelity International Growth is 0.47 (i.e., Very weak diversification). The correlation of Delaware 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.

Delaware Emerging Correlation With Market

Average diversification

The correlation between Delaware Emerging Markets and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Delaware Emerging Markets and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Delaware 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 nation.

Moving together with Delaware Mutual Fund

0.68	DLHAX	Delaware Healthcare	Pair Corr
0.84	IPOAX	Ivy Emerging Markets	Pair Corr
0.67	WHIAX	Ivy High Income	Pair Corr

Moving against Delaware Mutual Fund

0.37	CXHYX	Delaware National High	Pair Corr
0.36	FTNYX	Delaware Tax Free	Pair Corr
0.34	DMTFX	Delaware Tax Free	Pair Corr
0.5	DVFNX	Delaware Tax Free	Pair Corr
0.47	DVFTX	Delaware Tax Free	Pair Corr
0.46	DVHCX	Delaware National High	Pair Corr
0.37	DUSCX	Delaware Tax Free	Pair Corr

Related Correlations Analysis

	FZAJX	BGKEX	MAPTX	SWSSX	FUNYX	FPIFX	HGOAX	HGOSX	YACKX	OTCNX
FZAJX		0.77	0.64	0.46	0.18	-0.08	0.8	0.69	0.65	0.7	FZAJX
BGKEX	0.77		0.74	0.32	0.2	-0.15	0.74	0.62	0.51	0.61	BGKEX
MAPTX	0.64	0.74		0.24	-0.08	-0.26	0.39	0.46	0.33	0.59	MAPTX
SWSSX	0.46	0.32	0.24		0.71	0.14	0.55	0.7	0.46	0.47	SWSSX
FUNYX	0.18	0.2	-0.08	0.71		0.1	0.55	0.59	0.5	0.34	FUNYX
FPIFX	-0.08	-0.15	-0.26	0.14	0.1		0.02	0.04	-0.22	-0.18	FPIFX
HGOAX	0.8	0.74	0.39	0.55	0.55	0.02		0.87	0.81	0.73	HGOAX
HGOSX	0.69	0.62	0.46	0.7	0.59	0.04	0.87		0.82	0.8	HGOSX
YACKX	0.65	0.51	0.33	0.46	0.5	-0.22	0.81	0.82		0.85	YACKX
OTCNX	0.7	0.61	0.59	0.47	0.34	-0.18	0.73	0.8	0.85		OTCNX
	FZAJX	BGKEX	MAPTX	SWSSX	FUNYX	FPIFX	HGOAX	HGOSX	YACKX	OTCNX

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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

HGOSX	+ 0.87	HGOAX
OTCNX	+ 0.85	YACKX
YACKX	+ 0.82	HGOSX
YACKX	+ 0.81	HGOAX
HGOAX	+ 0.8	FZAJX
OTCNX	+ 0.8	HGOSX

High negative correlations

FPIFX	- 0.26	MAPTX
YACKX	- 0.22	FPIFX
OTCNX	- 0.18	FPIFX
FPIFX	- 0.15	BGKEX
FUNYX	- 0.08	MAPTX
FPIFX	- 0.08	FZAJX

Risk-Adjusted Indicators

There is a big difference between Delaware Mutual Fund performing well and Delaware 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 Delaware 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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FZAJX	0.69	0.06	(0.01)	0.34	0.90	(0.72)	1.59	(1.44)	3.63
BGKEX	0.80	0.06	(0.01)	0.40	1.17	(0.87)	1.66	(1.35)	5.42
MAPTX	0.81	0.02	0.00	0.10	0.93	(0.94)	1.54	(1.28)	4.98
SWSSX	1.03	(0.04)	(0.01)	0.06	1.21	(1.09)	1.96	(1.94)	5.52
FUNYX	1.08	0.34	0.29	0.80	0.60	(1.36)	1.30	(1.48)	26.29
FPIFX	0.35	(0.07)	0.00	(0.22)	0.00	0.00	0.57	(0.62)	5.69
HGOAX	1.01	0.11	0.02	43.27	1.36	(1.02)	2.48	(2.28)	9.05
HGOSX	0.99	(0.01)	0.01	0.08	1.37	(0.98)	2.48	(2.29)	8.26
YACKX	0.68	0.32	0.40	1.15	0.00	(0.90)	1.05	(0.95)	14.09
OTCNX	1.20	0.14	0.10	0.21	1.20	(1.22)	2.42	(2.36)	18.41

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