Driehaus Emerging Correlations

DIEMX Fund

USD 37.72 0.15 0.40%

The current 90-days correlation between Driehaus Emerging Markets and Driehaus Emerging Markets is -0.05 (i.e., Good diversification). The correlation of Driehaus 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.

Driehaus Emerging Correlation With Market

Good diversification

The correlation between Driehaus Emerging Markets and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Driehaus 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 Driehaus 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 population.

Moving together with Driehaus Mutual Fund

0.74	VEMAX	Vanguard Emerging Markets	Pair Corr
0.74	VEIEX	Vanguard Emerging Markets	Pair Corr
0.74	VEMIX	Vanguard Emerging Markets	Pair Corr
0.74	VEMRX	Vanguard Emerging Markets	Pair Corr
0.81	FWWNX	American Funds New	Pair Corr
0.81	FNFWX	American Funds New	Pair Corr
0.87	NEWFX	New World Fund	Pair Corr
0.87	NWFFX	New World Fund	Pair Corr
0.87	NEWCX	New World Fund	Pair Corr
0.85	ODVYX	Oppenheimer Developing	Pair Corr
0.68	BTMPX	Ishares Msci Eafe	Pair Corr
0.68	BTMKX	Blackrock International	Pair Corr
0.67	MDIIX	Blackrock Intern Index	Pair Corr
0.63	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.78	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr

Moving against Driehaus Mutual Fund

0.42	FMFFX	Fs Managed Futures	Pair Corr
0.36	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.35	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.35	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.35	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.31	FSMMX	Fs Multi Strategy	Pair Corr
0.53	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.46	BAC	Bank of America Aggressive Push	Pair Corr
0.35	DIS	Walt Disney Aggressive Push	Pair Corr

Related Correlations Analysis

	DIEMX	DRESX	DREGX	DRFRX	DRIDX	DRIOX	DRSLX	DSMDX	DMAGX
DIEMX		0.78	1.0	0.0	0.0	0.75	0.0	-0.15	0.09	DIEMX
DRESX	0.78		0.79	0.0	0.0	0.73	0.0	-0.12	0.05	DRESX
DREGX	1.0	0.79		0.0	0.0	0.75	0.0	-0.16	0.09	DREGX
DRFRX	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	DRFRX
DRIDX	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	DRIDX
DRIOX	0.75	0.73	0.75	0.0	0.0		0.0	-0.59	-0.44	DRIOX
DRSLX	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	DRSLX
DSMDX	-0.15	-0.12	-0.16	0.0	0.0	-0.59	0.0		0.94	DSMDX
DMAGX	0.09	0.05	0.09	0.0	0.0	-0.44	0.0	0.94		DMAGX
	DIEMX	DRESX	DREGX	DRFRX	DRIDX	DRIOX	DRSLX	DSMDX	DMAGX

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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

DREGX	+ 1.0	DIEMX
DMAGX	+ 0.94	DSMDX
DREGX	+ 0.79	DRESX
DRESX	+ 0.78	DIEMX
DRIOX	+ 0.75	DIEMX
DRIOX	+ 0.75	DREGX

High negative correlations

DSMDX	- 0.59	DRIOX
DMAGX	- 0.44	DRIOX
DSMDX	- 0.16	DREGX
DSMDX	- 0.15	DIEMX
DSMDX	- 0.12	DRESX
DMAGX	- 0.0	DRSLX

Risk-Adjusted Indicators

There is a big difference between Driehaus Mutual Fund performing well and Driehaus 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 Driehaus 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
DIEMX	0.64	(0.05)	0.00	2.36	0.00	0.00	1.53	(1.57)	3.98
DRESX	0.58	(0.10)	0.00	(0.07)	0.00	0.00	1.19	(1.40)	3.26
DREGX	0.65	(0.05)	0.00	2.33	0.00	0.00	1.53	(1.59)	4.01
DRFRX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DRIDX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DRIOX	0.60	(0.10)	0.00	1.54	0.00	0.00	1.18	(1.28)	3.58
DRSLX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DSMDX	0.87	0.23	0.11	2.17	0.75	(1.05)	2.42	(1.79)	5.44
DMAGX	0.58	0.10	(0.03)	(7.32)	0.69	(0.65)	1.22	(1.43)	3.93

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