Driehaus Emerging Correlations

DRESX Fund

USD 22.14 0.17 0.76%

The current 90-days correlation between Driehaus Emerging Markets and Vanguard Emerging Markets is 0.56 (i.e., Very weak 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

Very weak diversification

The correlation between Driehaus Emerging Markets and DJI is 0.53 (i.e., Very weak 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 state.

Moving together with Driehaus Mutual Fund

0.66	FWWNX	American Funds New	Pair Corr
0.66	FNFWX	American Funds New	Pair Corr
0.76	NEWFX	New World Fund	Pair Corr
0.76	NWFFX	New World Fund	Pair Corr
0.77	NEWCX	New World Fund	Pair Corr
0.7	ODVYX	Oppenheimer Developing	Pair Corr
0.75	BXEAX	Barings Emerging Markets	Pair Corr

Moving against Driehaus Mutual Fund

0.44	KINCX	Kinetics Internet	Pair Corr
0.42	KNPAX	Kinetics Paradigm Steady Growth	Pair Corr
0.42	KMKCX	Kinetics Market Oppo Steady Growth	Pair Corr
0.41	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.41	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.39	KSCOX	Kinetics Small Cap Steady Growth	Pair Corr
0.38	KSCYX	Kinetics Small Cap Steady Growth	Pair Corr
0.42	KMKNX	Kinetics Market Oppo Steady Growth	Pair Corr
0.41	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.39	KSOCX	Kinetics Small Cap Steady Growth	Pair Corr
0.38	FSRBX	Banking Portfolio Banking	Pair Corr

Related Correlations Analysis

	VEMAX	VEIEX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP
VEMAX		1.0	-0.42	0.0	-0.5	0.89	0.55	0.37	0.2	-0.31	VEMAX
VEIEX	1.0		-0.42	0.0	-0.5	0.89	0.55	0.37	0.2	-0.31	VEIEX
444859BR2	-0.42	-0.42		0.0	0.22	-0.53	-0.54	-0.03	0.41	-0.41	444859BR2
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.5	-0.5	0.22	0.0		-0.45	-0.35	-0.4	-0.04	0.1	BRRAY
MSTSX	0.89	0.89	-0.53	0.0	-0.45		0.67	0.34	-0.02	-0.08	MSTSX
LBHIX	0.55	0.55	-0.54	0.0	-0.35	0.67		0.51	-0.29	0.22	LBHIX
ABHYX	0.37	0.37	-0.03	0.0	-0.4	0.34	0.51		-0.05	-0.17	ABHYX
SCAXF	0.2	0.2	0.41	0.0	-0.04	-0.02	-0.29	-0.05		-0.8	SCAXF
VIASP	-0.31	-0.31	-0.41	0.0	0.1	-0.08	0.22	-0.17	-0.8		VIASP
	VEMAX	VEIEX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

VEIEX	+ 1.0	VEMAX
MSTSX	+ 0.89	VEMAX
MSTSX	+ 0.89	VEIEX
LBHIX	+ 0.67	MSTSX
LBHIX	+ 0.55	VEMAX
LBHIX	+ 0.55	VEIEX

High negative correlations

VIASP	- 0.8	SCAXF
LBHIX	- 0.54	444859BR2
MSTSX	- 0.53	444859BR2
BRRAY	- 0.5	VEIEX
BRRAY	- 0.5	VEMAX
MSTSX	- 0.45	BRRAY

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
VEMAX	0.71	(0.03)	(0.12)	0.04	0.85	(0.78)	1.57	(1.68)	4.60
VEIEX	0.71	(0.03)	(0.12)	0.04	0.85	(0.78)	1.55	(1.68)	4.60
444859BR2	1.35	(0.09)	0.00	(0.14)	0.00	0.00	5.93	(5.79)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.13)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	(0.04)	(0.13)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
LBHIX	0.11	0.01	(0.42)	0.38	0.00	(0.29)	0.24	(0.24)	0.96
ABHYX	0.17	0.00	(0.24)	0.19	0.25	(0.24)	0.34	(0.33)	1.91
SCAXF	0.70	(0.41)	0.00	(0.98)	0.00	0.00	0.00	0.00	23.47
VIASP	0.74	0.07	(0.04)	(2.04)	1.13	(0.80)	2.28	(1.20)	7.18

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC