Emerging Markets Correlations

DFCEX Fund

USD 32.10 0.04 0.12%

The current 90-days correlation between Emerging Markets E and Us E Equity is 0.6 (i.e., Poor diversification). 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.

Emerging Markets Correlation With Market

Very poor diversification

The correlation between Emerging Markets E and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Emerging Markets E 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 Emerging Markets E. 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 discontinued.

Moving together with Emerging Mutual Fund

0.96	DIHRX	Intal High Relative	Pair Corr
0.83	DSCGX	Dfa Small	Pair Corr
0.82	DURPX	Us High Relative	Pair Corr
1.0	DFEMX	Emerging Markets Por	Pair Corr
0.87	DFVEX	Us Vector Equity	Pair Corr
0.93	TDIFX	Dimensional Retirement	Pair Corr
0.99	VEMAX	Vanguard Emerging Markets	Pair Corr
0.99	VEIEX	Vanguard Emerging Markets	Pair Corr
0.99	VEMIX	Vanguard Emerging Markets	Pair Corr
0.99	VEMRX	Vanguard Emerging Markets	Pair Corr
0.94	NEWFX	New World Fund	Pair Corr
0.94	NWFFX	New World Fund	Pair Corr
0.94	NEWCX	New World Fund	Pair Corr
0.94	FWWNX	American Funds New	Pair Corr
0.94	FNFWX	American Funds New	Pair Corr
0.74	VSTSX	Vanguard Total Stock	Pair Corr
0.74	VSMPX	Vanguard Total Stock	Pair Corr
0.73	VITSX	Vanguard Total Stock	Pair Corr
0.72	VFFSX	Vanguard 500 Index	Pair Corr
0.72	VFIAX	Vanguard 500 Index	Pair Corr
0.74	VTSAX	Vanguard Total Stock	Pair Corr
0.97	VTSNX	Vanguard Total Inter	Pair Corr
0.97	VTISX	Vanguard Total Inter	Pair Corr
0.97	VTPSX	Vanguard Total Inter	Pair Corr
0.72	VINIX	Vanguard Institutional	Pair Corr
0.89	DRSVX	Foundry Partners Fun	Pair Corr
0.68	PLAAX	Pace Large Growth	Pair Corr
0.88	ACVAX	Strategic Allocation:	Pair Corr
0.96	NOINX	Northern International	Pair Corr
0.74	LMISX	Qs Large Cap	Pair Corr
0.68	IPFIX	Victory Incore	Pair Corr
0.96	TCIEX	Tiaa Cref International	Pair Corr
0.77	PEUCX	Equity Income	Pair Corr
0.81	IRGIX	Vy Clarion Global	Pair Corr
0.87	FGDAX	Gold Portfolio Fidelity	Pair Corr
0.76	SMDRX	Hartford Schroders	Pair Corr
0.81	CAGEX	Calamos Global Equity	Pair Corr
0.79	STABX	Pioneer Short Term	Pair Corr

Moving against Emerging Mutual Fund

0.46

ODVYX

Oppenheimer Developing

Pair Corr

Related Correlations Analysis

	SWTSX	PEMGX	BHYIX	TRFHX	FGOMX	FOCPX	RFKTX	FKDNX	DFIEX	DFQTX
SWTSX		0.71	0.88	0.9	0.73	0.94	0.94	0.31	0.82	0.94	SWTSX
PEMGX	0.71		0.81	0.71	0.57	0.56	0.74	0.25	0.7	0.72	PEMGX
BHYIX	0.88	0.81		0.91	0.8	0.79	0.93	0.13	0.87	0.91	BHYIX
TRFHX	0.9	0.71	0.91		0.94	0.84	0.98	0.0	0.98	0.98	TRFHX
FGOMX	0.73	0.57	0.8	0.94		0.73	0.9	-0.1	0.95	0.86	FGOMX
FOCPX	0.94	0.56	0.79	0.84	0.73		0.89	0.33	0.77	0.87	FOCPX
RFKTX	0.94	0.74	0.93	0.98	0.9	0.89		0.14	0.94	0.97	RFKTX
FKDNX	0.31	0.25	0.13	0.0	-0.1	0.33	0.14		-0.13	0.03	FKDNX
DFIEX	0.82	0.7	0.87	0.98	0.95	0.77	0.94	-0.13		0.95	DFIEX
DFQTX	0.94	0.72	0.91	0.98	0.86	0.87	0.97	0.03	0.95		DFQTX
	SWTSX	PEMGX	BHYIX	TRFHX	FGOMX	FOCPX	RFKTX	FKDNX	DFIEX	DFQTX

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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

RFKTX	+ 0.98	TRFHX
DFIEX	+ 0.98	TRFHX
DFQTX	+ 0.98	TRFHX
DFQTX	+ 0.97	RFKTX
DFIEX	+ 0.95	FGOMX
DFQTX	+ 0.95	DFIEX

High negative correlations

DFIEX	- 0.13	FKDNX
FKDNX	- 0.1	FGOMX
FKDNX	- 0.0	TRFHX

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
SWTSX	0.62	(0.03)	(0.05)	0.04	0.83	(0.64)	1.39	(1.64)	3.79
PEMGX	0.77	0.08	(0.01)	(0.45)	0.86	(0.88)	1.64	(1.60)	10.18
BHYIX	0.10	0.01	(0.39)	0.19	0.00	(0.19)	0.14	(0.14)	0.98
TRFHX	0.36	0.03	(0.02)	0.14	0.31	(0.38)	0.82	(0.66)	1.94
FGOMX	0.65	0.13	0.12	0.31	0.49	(0.76)	1.41	(1.07)	4.41
FOCPX	0.89	(0.03)	(0.03)	0.05	1.54	(0.83)	1.74	(2.29)	8.57
RFKTX	0.56	0.02	(0.01)	0.10	0.64	(0.59)	1.16	(1.22)	3.10
FKDNX	1.04	(0.11)	0.00	(2.34)	0.00	0.00	1.86	(2.66)	6.70
DFIEX	0.60	0.16	0.17	0.32	0.46	(0.69)	1.56	(1.20)	3.23
DFQTX	0.57	0.02	0.01	0.11	0.66	(0.63)	1.28	(1.32)	3.33

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