Embark Small Correlations

ESCWX Fund

11.85 0.18 1.54%

The current 90-days correlation between Embark Small Cap and Harbor Vertible Securities is 0.84 (i.e., Very poor diversification). The correlation of Embark Small 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.

Embark Small Correlation With Market

Very poor diversification

The correlation between Embark Small Cap and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Embark Small Cap 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 Embark Small Cap. 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 housing.

Moving together with Embark Mutual Fund

0.88	HICSX	Harbor Vertible Secu	Pair Corr
0.91	HIMGX	Harbor Mid Cap	Pair Corr
0.97	HIMVX	Harbor Mid Cap	Pair Corr
0.91	HILVX	Harbor Large Cap	Pair Corr
0.98	HISVX	Harbor Small Cap	Pair Corr
0.64	HISWX	Harbor Strategic Growth	Pair Corr
0.95	HISGX	Harbor Small Cap	Pair Corr
0.93	HMCLX	Harbor Mid Cap	Pair Corr
0.93	HMCNX	Harbor Mid Cap	Pair Corr
0.93	HMCRX	Harbor Mid Cap	Pair Corr
0.85	HNACX	Harbor Capital Appre	Pair Corr
0.88	HNCVX	Harbor Vertible Secu	Pair Corr
0.64	HNGSX	Harbor Strategic Growth	Pair Corr
0.97	HNMVX	Harbor Mid Cap	Pair Corr
0.91	HNLVX	Harbor Large Cap	Pair Corr
0.95	HNSGX	Harbor Small Cap	Pair Corr
0.98	HNVRX	Harbor Small Cap	Pair Corr
0.85	HRCAX	Harbor Capital Appre	Pair Corr
0.97	HRMVX	Harbor Mid Cap	Pair Corr
0.85	HACAX	Harbor Capital Appre	Pair Corr
0.88	HACSX	Harbor Vertible Secu	Pair Corr
0.97	HAMVX	Harbor Mid Cap	Pair Corr
0.98	HASCX	Harbor Small Cap	Pair Corr
0.95	HASGX	Harbor Small Cap	Pair Corr
0.91	HAVLX	Harbor Large Cap	Pair Corr
0.98	HSVRX	Harbor Small Cap	Pair Corr
0.85	HCAIX	Harbor Capital Appre	Pair Corr
0.9	VSMAX	Vanguard Small Cap	Pair Corr
0.96	VSCIX	Vanguard Small Cap	Pair Corr
0.9	VSCPX	Vanguard Small Cap	Pair Corr
0.96	NAESX	Vanguard Small Cap	Pair Corr

Moving against Embark Mutual Fund

0.55	HRBDX	Harbor Bond Fund	Pair Corr
0.37	HIINX	Harbor International	Pair Corr
0.56	HACBX	Harbor Core Bond	Pair Corr
0.54	HABDX	Harbor Bond Fund	Pair Corr
0.34	HAINX	Harbor International	Pair Corr

Related Correlations Analysis

	HICSX	HIIDX	HIINX	HIISX	HIMGX	HIMVX	HILVX	HISWX	HISGX
HICSX		-0.43	-0.62	-0.82	0.95	0.9	0.85	0.6	0.88	HICSX
HIIDX	-0.43		0.88	0.84	-0.22	-0.15	-0.08	0.09	-0.06	HIIDX
HIINX	-0.62	0.88		0.91	-0.45	-0.35	-0.28	0.02	-0.28	HIINX
HIISX	-0.82	0.84	0.91		-0.67	-0.56	-0.49	-0.29	-0.51	HIISX
HIMGX	0.95	-0.22	-0.45	-0.67		0.92	0.89	0.7	0.95	HIMGX
HIMVX	0.9	-0.15	-0.35	-0.56	0.92		0.95	0.71	0.96	HIMVX
HILVX	0.85	-0.08	-0.28	-0.49	0.89	0.95		0.77	0.96	HILVX
HISWX	0.6	0.09	0.02	-0.29	0.7	0.71	0.77		0.75	HISWX
HISGX	0.88	-0.06	-0.28	-0.51	0.95	0.96	0.96	0.75		HISGX
	HICSX	HIIDX	HIINX	HIISX	HIMGX	HIMVX	HILVX	HISWX	HISGX

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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

HISGX	+ 0.96	HIMVX
HISGX	+ 0.96	HILVX
HIMGX	+ 0.95	HICSX
HISGX	+ 0.95	HIMGX
HILVX	+ 0.95	HIMVX
HIMVX	+ 0.92	HIMGX

High negative correlations

HIISX	- 0.82	HICSX
HIMGX	- 0.67	HIISX
HIINX	- 0.62	HICSX
HIMVX	- 0.56	HIISX
HISGX	- 0.51	HIISX
HILVX	- 0.49	HIISX

Risk-Adjusted Indicators

There is a big difference between Embark Mutual Fund performing well and Embark Small 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 Embark Small'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
HICSX	0.36	0.09	0.05	0.31	0.00	(0.42)	1.08	(0.63)	2.01
HIIDX	0.63	(0.11)	0.00	(0.10)	0.00	0.00	1.26	(1.49)	4.09
HIINX	0.67	(0.05)	0.00	1.24	0.00	0.00	1.32	(1.64)	4.30
HIISX	0.62	(0.19)	0.00	(0.39)	0.00	0.00	1.04	(1.52)	4.51
HIMGX	0.84	0.02	0.02	0.14	1.09	(0.94)	1.79	(1.95)	5.52
HIMVX	0.69	(0.02)	(0.02)	0.10	0.59	(0.87)	1.54	(1.31)	4.87
HILVX	0.56	(0.03)	(0.07)	0.08	0.58	(0.62)	1.15	(1.06)	3.61
HISWX	0.55	0.04	(0.10)	(4.43)	0.73	(0.58)	1.02	(1.46)	3.69
HISGX	0.88	(0.03)	0.01	0.10	0.91	(0.96)	1.94	(1.32)	5.82

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