Emerging Markets Correlations

The correlation of Emerging Markets 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.

Check out Investing Opportunities to better understand how to build diversified portfolios. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Emerging Mutual Fund

0.72	VEMAX	Vanguard Emerging Markets	Pair Corr
0.97	VEIEX	Vanguard Emerging Markets	Pair Corr
0.97	VEMIX	Vanguard Emerging Markets	Pair Corr
0.71	VEMRX	Vanguard Emerging Markets	Pair Corr
0.89	NEWFX	New World Fund	Pair Corr
0.9	NWFFX	New World Fund	Pair Corr
0.89	NEWCX	New World Fund	Pair Corr
0.9	FNFWX	American Funds New	Pair Corr
0.71	ASG	Liberty All Star	Pair Corr
0.69	ETV	Eaton Vance Tax	Pair Corr
0.75	CLM	Cornerstone Strategic	Pair Corr
0.83	CRF	Cornerstone Total Return	Pair Corr
0.86	NFJ	Virtus Dividend Interest	Pair Corr
0.78	RWICX	Capital World Growth	Pair Corr
0.68	CVX	Chevron Corp Earnings Call Next Week	Pair Corr
0.66	HD	Home Depot	Pair Corr

Moving against Emerging Mutual Fund

0.46	ODVYX	Oppenheimer Developing	Pair Corr
0.41	IIF	Morgan Stanley India	Pair Corr
0.48	CSCO	Cisco Systems	Pair Corr
0.47	IBM	International Business Earnings Call This Week	Pair Corr
0.32	VZ	Verizon Communications Earnings Call Next Week	Pair Corr

Related Correlations Analysis

	FIDAX	MCBXX	XFINX	RMBLX	GCFSX	SBFAX	ICFAX
FIDAX		0.0	-0.11	-0.65	-0.66	-0.71	-0.52	FIDAX
MCBXX	0.0		0.0	0.0	0.0	0.0	0.0	MCBXX
XFINX	-0.11	0.0		0.62	0.66	0.53	0.69	XFINX
RMBLX	-0.65	0.0	0.62		0.98	0.94	0.92	RMBLX
GCFSX	-0.66	0.0	0.66	0.98		0.93	0.93	GCFSX
SBFAX	-0.71	0.0	0.53	0.94	0.93		0.86	SBFAX
ICFAX	-0.52	0.0	0.69	0.92	0.93	0.86		ICFAX
	FIDAX	MCBXX	XFINX	RMBLX	GCFSX	SBFAX	ICFAX

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

GCFSX	+ 0.98	RMBLX
SBFAX	+ 0.94	RMBLX
SBFAX	+ 0.93	GCFSX
ICFAX	+ 0.93	GCFSX
ICFAX	+ 0.92	RMBLX
ICFAX	+ 0.86	SBFAX

High negative correlations

SBFAX	- 0.71	FIDAX
GCFSX	- 0.66	FIDAX
RMBLX	- 0.65	FIDAX
ICFAX	- 0.52	FIDAX
XFINX	- 0.11	FIDAX
ICFAX	- 0.0	MCBXX

Risk-Adjusted Indicators

There is a big difference between Emerging Mutual Fund performing well and Emerging Markets 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 Emerging Markets' 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
FIDAX	1.29	(0.33)	0.00	11.03	0.00	0.00	1.78	(1.49)	33.76
MCBXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
XFINX	0.17	(0.02)	0.00	(0.16)	0.00	0.00	0.36	(0.78)	1.58
RMBLX	1.00	0.32	0.32	0.45	0.42	(1.24)	3.09	(1.14)	6.79
GCFSX	0.48	0.14	0.17	0.29	0.24	(0.60)	1.39	(1.03)	3.52
SBFAX	0.91	0.29	0.28	0.63	0.31	(1.14)	1.70	(1.43)	18.32
ICFAX	0.85	0.15	0.19	0.25	0.40	(1.17)	1.66	(0.98)	14.63

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