Embark Small Correlations

ESCWX Fund

11.78 0.06 0.51%

The current 90-days correlation between Embark Small Cap and Ab Servative Wealth is 0.32 (i.e., Weak 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

Almost no diversification

The correlation between Embark Small Cap and DJI is 0.91 (i.e., Almost no 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 manufacturing.

Moving together with Embark Mutual Fund

0.89	HICSX	Harbor Vertible Secu	Pair Corr
0.89	HIIDX	Harbor Diversified	Pair Corr
0.9	HIINX	Harbor International	Pair Corr
0.91	HIMVX	Harbor Mid Cap	Pair Corr
0.9	HILVX	Harbor Large Cap	Pair Corr
0.93	HISGX	Harbor Small Cap	Pair Corr
0.93	HMCLX	Harbor Mid Cap	Pair Corr
0.82	HNACX	Harbor Capital Appre	Pair Corr
0.97	ESCQX	Embark Small Cap	Pair Corr
0.9	HNINX	Harbor International	Pair Corr
0.8	HNICX	Harbor International	Pair Corr
0.9	HNMVX	Harbor Mid Cap	Pair Corr
0.84	HNLVX	Harbor Large Cap	Pair Corr
0.83	HRCAX	Harbor Capital Appre	Pair Corr
0.89	HRCSX	Harbor Vertible Secu	Pair Corr
0.89	HRIDX	Harbor Diversified	Pair Corr
0.89	HRISX	Harbor International	Pair Corr
0.91	HRMVX	Harbor Mid Cap	Pair Corr
0.61	HACBX	Harbor Core Bond	Pair Corr
0.7	HABDX	Harbor Bond Fund	Pair Corr
0.91	HAMVX	Harbor Mid Cap	Pair Corr
0.92	HASCX	Harbor Small Cap	Pair Corr
0.92	HASGX	Harbor Small Cap	Pair Corr
0.9	HAVLX	Harbor Large Cap	Pair Corr
0.92	HSVRX	Harbor Small Cap	Pair Corr
0.71	HBFRX	Harbor Bond Fund	Pair Corr
0.94	VSMAX	Vanguard Small Cap	Pair Corr
0.94	VSCIX	Vanguard Small Cap	Pair Corr
0.94	VSCPX	Vanguard Small Cap	Pair Corr
0.94	NAESX	Vanguard Small Cap	Pair Corr
0.94	FSSNX	Fidelity Small Cap	Pair Corr
0.94	DFSTX	Us Small Cap	Pair Corr
0.93	FTHSX	Fuller Thaler Behavioral	Pair Corr
0.92	FTHNX	Fuller Thaler Behavioral	Pair Corr
0.95	PASVX	T Rowe Price	Pair Corr
0.92	PRVIX	T Rowe Price	Pair Corr
0.73	NHS	Neuberger Berman High	Pair Corr

Related Correlations Analysis

	SPMIX	QLENX	SMQFX	DBELX	USMIX	GIRMX	ABPYX
SPMIX		0.77	0.83	0.82	0.96	0.79	0.11	SPMIX
QLENX	0.77		0.74	0.59	0.8	0.51	0.02	QLENX
SMQFX	0.83	0.74		0.87	0.9	0.89	-0.14	SMQFX
DBELX	0.82	0.59	0.87		0.83	0.94	-0.16	DBELX
USMIX	0.96	0.8	0.9	0.83		0.83	0.01	USMIX
GIRMX	0.79	0.51	0.89	0.94	0.83		-0.04	GIRMX
ABPYX	0.11	0.02	-0.14	-0.16	0.01	-0.04		ABPYX
	SPMIX	QLENX	SMQFX	DBELX	USMIX	GIRMX	ABPYX

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

USMIX	+ 0.96	SPMIX
GIRMX	+ 0.94	DBELX
USMIX	+ 0.9	SMQFX
GIRMX	+ 0.89	SMQFX
DBELX	+ 0.87	SMQFX
SMQFX	+ 0.83	SPMIX

High negative correlations

ABPYX	- 0.16	DBELX
ABPYX	- 0.14	SMQFX
ABPYX	- 0.04	GIRMX

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
SPMIX	0.81	0.15	0.17	0.23	0.51	(0.94)	1.91	(1.36)	6.89
QLENX	0.36	0.06	(0.06)	3.46	0.28	(0.43)	0.85	(0.63)	2.30
SMQFX	1.26	0.65	0.84	1.23	0.00	(1.70)	1.80	(1.11)	35.01
DBELX	0.22	0.08	0.01	0.72	0.00	(0.29)	0.61	(0.32)	2.02
USMIX	0.86	0.14	0.14	0.23	0.70	(1.04)	2.09	(1.49)	5.37
GIRMX	0.67	0.11	0.09	0.26	0.52	(0.78)	1.59	(1.28)	4.16
ABPYX	0.40	(0.06)	0.00	(0.04)	0.00	0.00	0.77	(1.10)	2.19

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