Delaware Emerging Correlations

DEMIX Fund

USD 38.51 1.49 4.02%

The current 90-days correlation between Delaware Emerging Markets and Financial Industries Fund is -0.12 (i.e., Good 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

Very poor diversification

The correlation between Delaware Emerging Markets and DJI is 0.83 (i.e., Very poor 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 gross domestic product.

Moving together with Delaware Mutual Fund

0.84	OASGX	Optimum Small Mid Potential Growth	Pair Corr
0.82	OCLVX	Optimum Large Cap	Pair Corr
0.68	DLHIX	Delaware Healthcare	Pair Corr
0.68	DLRHX	Delaware Healthcare	Pair Corr
0.78	DLTZX	Delaware Limited Term	Pair Corr
0.88	DMHIX	Delaware Minnesota High	Pair Corr
0.96	OIIEX	Optimum International	Pair Corr
0.82	OILVX	Optimum Large Cap	Pair Corr
0.81	OISGX	Optimum Small Mid Potential Growth	Pair Corr
0.82	OISVX	Optimum Small Mid	Pair Corr
0.93	DPRSX	Delaware Reit	Pair Corr
0.81	DTINX	Delaware Limited Term	Pair Corr
0.8	DULTX	Delaware Investments	Pair Corr
0.81	DDVIX	Delaware Value	Pair Corr
0.83	DVLRX	Delaware Small Cap	Pair Corr
1.0	DEMRX	Delaware Emerging Markets Steady Growth	Pair Corr
1.0	DEMZX	Delaware Emerging Markets Steady Growth	Pair Corr
0.84	DEVIX	Delaware Small Cap	Pair Corr
0.91	VEMAX	Vanguard Emerging Markets	Pair Corr
0.91	VEIEX	Vanguard Emerging Markets	Pair Corr
0.91	VEMIX	Vanguard Emerging Markets	Pair Corr
0.91	VEMRX	Vanguard Emerging Markets	Pair Corr
0.97	NEWFX	New World Fund	Pair Corr
0.97	NWFFX	New World Fund	Pair Corr
0.97	NEWCX	New World Fund	Pair Corr
0.97	FWWNX	American Funds New	Pair Corr
0.97	FNFWX	American Funds New	Pair Corr
0.83	GAAKX	Gmo Alternative Allo	Pair Corr
0.83	GAAGX	Gmo Alternative Allo	Pair Corr
0.62	GPBFX	Gmo E Plus	Pair Corr
0.93	GPMFX	Guidepath Managed Futures	Pair Corr
0.95	PQTAX	Pimco Trends Managed	Pair Corr
0.96	PQTNX	Pimco Trends Managed	Pair Corr
0.96	PQTIX	Aa Pimco Tr	Pair Corr

Moving against Delaware Mutual Fund

0.68	DMO	Western Asset Mortgage	Pair Corr
0.62	ODVYX	Oppenheimer Developing	Pair Corr

Related Correlations Analysis

	FNPIX	SBFAX	PGFMX	FVAXX	FIDAX
FNPIX		0.8	0.47	0.0	-0.49	FNPIX
SBFAX	0.8		0.72	0.0	-0.72	SBFAX
PGFMX	0.47	0.72		0.0	-0.84	PGFMX
FVAXX	0.0	0.0	0.0		0.0	FVAXX
FIDAX	-0.49	-0.72	-0.84	0.0		FIDAX
	FNPIX	SBFAX	PGFMX	FVAXX	FIDAX

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

SBFAX	+ 0.8	FNPIX
PGFMX	+ 0.72	SBFAX
PGFMX	+ 0.47	FNPIX
FVAXX	+ 0.0	FNPIX
FVAXX	+ 0.0	SBFAX
FVAXX	+ 0.0	PGFMX

High negative correlations

FIDAX	- 0.84	PGFMX
FIDAX	- 0.72	SBFAX
FIDAX	- 0.49	FNPIX
FIDAX	- 0.0	FVAXX
FVAXX	- 0.0	PGFMX
FVAXX	- 0.0	SBFAX

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
FNPIX	1.01	(0.09)	(0.04)	0.00	1.45	(0.94)	1.85	(2.56)	6.55
SBFAX	0.93	0.24	0.24	0.48	0.51	(1.18)	1.70	(1.46)	18.47
PGFMX	0.32	0.05	(0.01)	0.71	0.29	(0.36)	0.66	(0.65)	2.83
FVAXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FIDAX	1.31	(0.36)	0.00	2.67	0.00	0.00	1.78	(1.82)	33.76

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