Delaware Emerging Correlations

DEMCX Fund

USD 19.40 0.15 0.77%

The current 90-days correlation between Delaware Emerging Markets and Hartford Moderate Allocation is 0.65 (i.e., Poor 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

Weak diversification

The correlation between Delaware Emerging Markets and DJI is 0.37 (i.e., Weak 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 main economic indicators.

Moving together with Delaware Mutual Fund

0.72	IMAAX	Ivy Apollo Multi	Pair Corr
0.64	WASAX	Ivy Asset Strategy	Pair Corr
0.93	OCIEX	Optimum International	Pair Corr
0.94	IPOAX	Ivy Emerging Markets	Pair Corr
0.93	OIIEX	Optimum International	Pair Corr

Related Correlations Analysis

	HBAIX	MODRX	SAMAX	JLMOX	TCTZX	BIMPX	EXBAX	JTSQX
HBAIX		0.16	0.82	0.79	0.89	0.77	0.32	0.98	HBAIX
MODRX	0.16		-0.07	0.46	0.36	0.43	0.66	0.03	MODRX
SAMAX	0.82	-0.07		0.59	0.56	0.57	-0.14	0.86	SAMAX
JLMOX	0.79	0.46	0.59		0.86	0.96	0.59	0.71	JLMOX
TCTZX	0.89	0.36	0.56	0.86		0.84	0.66	0.79	TCTZX
BIMPX	0.77	0.43	0.57	0.96	0.84		0.57	0.69	BIMPX
EXBAX	0.32	0.66	-0.14	0.59	0.66	0.57		0.17	EXBAX
JTSQX	0.98	0.03	0.86	0.71	0.79	0.69	0.17		JTSQX
	HBAIX	MODRX	SAMAX	JLMOX	TCTZX	BIMPX	EXBAX	JTSQX

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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

JTSQX	+ 0.98	HBAIX
BIMPX	+ 0.96	JLMOX
TCTZX	+ 0.89	HBAIX
JTSQX	+ 0.86	SAMAX
TCTZX	+ 0.86	JLMOX
BIMPX	+ 0.84	TCTZX

High negative correlations

EXBAX	- 0.14	SAMAX
SAMAX	- 0.07	MODRX

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
HBAIX	0.35	(0.03)	(0.18)	0.06	0.42	(0.38)	0.83	(0.68)	2.05
MODRX	0.28	(0.02)	(0.32)	(0.06)	0.31	(0.46)	0.72	(0.63)	1.52
SAMAX	0.42	0.06	(0.10)	0.75	0.44	(0.47)	0.85	(0.83)	2.62
JLMOX	0.25	0.00	(0.34)	0.12	0.28	(0.27)	0.55	(0.63)	1.35
TCTZX	0.25	(0.02)	(0.29)	0.04	0.28	(0.27)	0.60	(0.60)	1.33
BIMPX	0.25	0.00	(0.31)	0.11	0.25	(0.35)	0.68	(0.60)	1.58
EXBAX	0.25	(0.03)	(0.35)	(0.01)	0.31	(0.26)	0.47	(0.60)	1.49
JTSQX	0.50	(0.04)	(0.12)	0.06	0.63	(0.52)	1.12	(0.93)	3.11

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