Emerald Insights Correlations

EFCNX Fund

USD 21.12 0.03 0.14%

The current 90-days correlation between Emerald Insights and Fidelity Advisor Energy is 0.34 (i.e., Weak diversification). The correlation of Emerald Insights 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.

Emerald Insights Correlation With Market

Significant diversification

The correlation between Emerald Insights Fund and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Emerald Insights Fund 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 Emerald Insights Fund. 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 board of governors.

Moving together with Emerald Mutual Fund

0.85	FFBFX	Emerald Banking And	Pair Corr
0.97	FFGRX	Emerald Growth	Pair Corr
0.91	FGROX	Emerald Growth	Pair Corr
0.94	EFCCX	Emerald Insights	Pair Corr
0.94	EFCAX	Emerald Insights	Pair Corr
0.94	EFCIX	Emerald Insights	Pair Corr
0.97	HSPGX	Emerald Growth	Pair Corr
0.97	HSPCX	Emerald Growth	Pair Corr
0.85	HSSAX	Emerald Banking And	Pair Corr
0.84	HSSCX	Emerald Banking And	Pair Corr
0.85	HSSIX	Emerald Banking And	Pair Corr
0.98	FAFGX	American Funds	Pair Corr
0.98	FFAFX	American Funds	Pair Corr
0.98	GFACX	Growth Fund	Pair Corr
0.93	GFAFX	Growth Fund	Pair Corr
0.93	AGTHX	Growth Fund	Pair Corr
0.93	CGFFX	Growth Fund	Pair Corr
0.98	CGFCX	Growth Fund	Pair Corr
0.98	CGFAX	Growth Fund	Pair Corr
0.93	CGFEX	Growth Fund	Pair Corr
0.93	RGAEX	Growth Fund	Pair Corr
0.97	VWELX	Vanguard Wellington	Pair Corr
0.79	VDAFX	Dynamic Allocation	Pair Corr
0.73	LEOIX	Lazard Enhanced Oppo	Pair Corr
0.93	INDEX	Sp 500 Equal	Pair Corr
0.94	CSQ	Calamos Strategic Total	Pair Corr
0.99	RYVYX	Nasdaq 100 2x	Pair Corr
0.97	FBALX	Fidelity Balanced	Pair Corr
0.98	FCNTX	Fidelity Contrafund	Pair Corr
0.82	DMA	Destra Multi Alternative	Pair Corr
0.92	CMEUX	Six Circles Managed	Pair Corr
0.95	FCYIX	Industrials Portfolio	Pair Corr
0.62	DPG	Duff And Phelps	Pair Corr
0.83	VSMVX	Vanguard Sp Small	Pair Corr

Moving against Emerald Mutual Fund

0.56

PFHCX

Pacific Funds Small

Pair Corr

Related Correlations Analysis

	FIKAX	ICBAX	ALTEX	DLDCX	APWEX	GRHAX	XEMOX
FIKAX		0.63	-0.02	0.89	0.7	0.53	0.63	FIKAX
ICBAX	0.63		-0.12	0.73	0.88	0.76	0.86	ICBAX
ALTEX	-0.02	-0.12		0.14	-0.31	-0.01	-0.51	ALTEX
DLDCX	0.89	0.73	0.14		0.78	0.77	0.61	DLDCX
APWEX	0.7	0.88	-0.31	0.78		0.87	0.88	APWEX
GRHAX	0.53	0.76	-0.01	0.77	0.87		0.64	GRHAX
XEMOX	0.63	0.86	-0.51	0.61	0.88	0.64		XEMOX
	FIKAX	ICBAX	ALTEX	DLDCX	APWEX	GRHAX	XEMOX

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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

DLDCX	+ 0.89	FIKAX
APWEX	+ 0.88	ICBAX
XEMOX	+ 0.88	APWEX
GRHAX	+ 0.87	APWEX
XEMOX	+ 0.86	ICBAX
APWEX	+ 0.78	DLDCX

High negative correlations

XEMOX	- 0.51	ALTEX
APWEX	- 0.31	ALTEX
ALTEX	- 0.12	ICBAX
ALTEX	- 0.02	FIKAX
GRHAX	- 0.01	ALTEX

Risk-Adjusted Indicators

There is a big difference between Emerald Mutual Fund performing well and Emerald Insights 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 Emerald Insights' 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
FIKAX	0.96	0.08	(0.02)	1.66	1.28	(0.93)	2.07	(2.13)	5.82
ICBAX	0.81	0.01	0.05	0.13	0.67	(0.93)	1.94	(1.24)	6.37
ALTEX	1.35	(0.19)	0.00	(0.05)	0.00	0.00	2.83	(2.74)	9.14
DLDCX	0.93	0.08	(0.03)	(7.24)	1.27	(0.95)	2.08	(2.05)	6.37
APWEX	0.89	0.10	0.08	0.21	0.95	(0.97)	2.01	(1.67)	5.80
GRHAX	1.10	0.08	0.05	0.20	1.29	(1.14)	2.55	(1.86)	8.81
XEMOX	0.72	0.22	0.13	2.62	0.49	(0.85)	1.68	(1.01)	4.31

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