Emerging Markets Correlations

EMRCX Fund

USD 11.49 0.04 0.35%

The current 90-days correlation between Emerging Markets and Bbh Intermediate Municipal is 0.1 (i.e., Average 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

Weak diversification

The correlation between Emerging Markets Fund and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Emerging Markets 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 Emerging Markets 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 main economic indicators.

Moving together with Emerging Mutual Fund

0.61	EMBAX	Unconstrained Emerging	Pair Corr
0.67	EMBYX	Unconstrained Emerging	Pair Corr
0.67	EMBUX	Unconstrained Emerging	Pair Corr
0.65	EMRIX	Emerging Markets	Pair Corr
0.65	EMRZX	Vaneck Emerging Markets	Pair Corr
0.65	EMRYX	Emerging Markets	Pair Corr
0.68	MWMIX	Vaneck Morningstar Wide	Pair Corr
0.68	MWMZX	Vaneck Morningstar Wide	Pair Corr
0.65	GBFAX	Emerging Markets	Pair Corr
0.83	VEMAX	Vanguard Emerging Markets	Pair Corr
0.83	VEIEX	Vanguard Emerging Markets	Pair Corr
0.83	VEMIX	Vanguard Emerging Markets	Pair Corr
0.83	VEMRX	Vanguard Emerging Markets	Pair Corr
0.87	FWWNX	American Funds New	Pair Corr
0.87	FNFWX	American Funds New	Pair Corr
0.77	NEWFX	New World Fund	Pair Corr
0.87	NWFFX	New World Fund	Pair Corr
0.78	NEWCX	New World Fund	Pair Corr
0.86	ODVYX	Oppenheimer Developing	Pair Corr
0.86	IFN	India Closed	Pair Corr

Moving against Emerging Mutual Fund

0.34	CMCAX	Cm Modity Index	Pair Corr
0.34	CMCYX	Cm Modity Index	Pair Corr
0.34	COMIX	Cm Modity Index	Pair Corr
0.63	CII	Blackrock Enhanced	Pair Corr
0.59	ETV	Eaton Vance Tax	Pair Corr
0.55	ETY	Eaton Vance Tax	Pair Corr

Related Correlations Analysis

	BBINX	MDMTX	MSTBX	RIBIX	RIBAX	FMFXX	ABNTX
BBINX		0.89	0.59	0.81	0.8	0.3	0.52	BBINX
MDMTX	0.89		0.54	0.79	0.78	0.19	0.6	MDMTX
MSTBX	0.59	0.54		0.5	0.45	0.71	0.59	MSTBX
RIBIX	0.81	0.79	0.5		0.99	0.01	0.69	RIBIX
RIBAX	0.8	0.78	0.45	0.99		-0.06	0.69	RIBAX
FMFXX	0.3	0.19	0.71	0.01	-0.06		0.04	FMFXX
ABNTX	0.52	0.6	0.59	0.69	0.69	0.04		ABNTX
	BBINX	MDMTX	MSTBX	RIBIX	RIBAX	FMFXX	ABNTX

Click cells to compare fundamentals

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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

RIBAX	+ 0.99	RIBIX
MDMTX	+ 0.89	BBINX
RIBIX	+ 0.81	BBINX
RIBAX	+ 0.8	BBINX
RIBIX	+ 0.79	MDMTX
RIBAX	+ 0.78	MDMTX

High negative correlations

FMFXX

- 0.06

RIBAX

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
BBINX	0.15	(0.01)	(0.23)	(0.40)	0.21	(0.20)	0.30	(0.29)	1.27
MDMTX	0.20	0.00	(0.16)	0.13	0.24	(0.27)	0.48	(0.56)	1.72
MSTBX	0.10	0.00	(0.48)	(0.26)	0.05	(0.15)	0.21	(0.21)	0.62
RIBIX	0.26	0.00	(0.24)	0.00	0.30	(0.32)	0.82	(0.59)	1.42
RIBAX	0.23	(0.01)	(0.22)	0.67	0.28	(0.33)	0.71	(0.70)	1.65
FMFXX	0.03	0.01	0.00	(0.95)	0.00	0.00	0.00	0.00	1.01
ABNTX	0.13	(0.01)	(0.37)	(0.12)	0.14	(0.17)	0.30	(0.30)	0.79

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