International Fund Correlations

FMIYX Fund

USD 37.16 0.32 0.87%

The current 90-days correlation between International Fund and Pimco Moditiesplus Strategy is 0.18 (i.e., Average diversification). The correlation of International Fund 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.

International Fund Correlation With Market

Poor diversification

The correlation between International Fund Internation and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding International Fund Internation 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 International Fund International. 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 International Mutual Fund

0.63	FMIQX	Large Cap Fund	Pair Corr
1.0	FMIJX	International Fund	Pair Corr
0.63	FMIHX	Large Cap Fund	Pair Corr
0.78	FMIFX	Fidelity Municipal Income	Pair Corr
0.67	VGTSX	Vanguard Total Inter	Pair Corr
0.68	VTIAX	Vanguard Total Inter	Pair Corr
0.67	VTSNX	Vanguard Total Inter	Pair Corr
0.67	VTPSX	Vanguard Total Inter	Pair Corr
0.67	VTISX	Vanguard Total Inter	Pair Corr
0.65	VDVIX	Vanguard Developed	Pair Corr
0.65	VDIPX	Vanguard Developed	Pair Corr

Related Correlations Analysis

	PCLPX	BCSSX	GICIX	CSDIX	PFPMX
PCLPX		0.17	0.23	0.01	0.48	PCLPX
BCSSX	0.17		-0.6	-0.29	0.74	BCSSX
GICIX	0.23	-0.6		0.39	-0.22	GICIX
CSDIX	0.01	-0.29	0.39		0.13	CSDIX
PFPMX	0.48	0.74	-0.22	0.13		PFPMX
	PCLPX	BCSSX	GICIX	CSDIX	PFPMX

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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

PFPMX	+ 0.74	BCSSX
PFPMX	+ 0.48	PCLPX
CSDIX	+ 0.39	GICIX
GICIX	+ 0.23	PCLPX
BCSSX	+ 0.17	PCLPX
PFPMX	+ 0.13	CSDIX

High negative correlations

GICIX	- 0.6	BCSSX
CSDIX	- 0.29	BCSSX
PFPMX	- 0.22	GICIX

Risk-Adjusted Indicators

There is a big difference between International Mutual Fund performing well and International Fund 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 International Fund'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
PCLPX	0.83	0.04	(0.04)	0.75	1.13	(0.87)	1.57	(1.86)	4.82
BCSSX	0.87	0.14	0.04	1.84	0.98	(0.93)	1.79	(1.87)	7.41
GICIX	0.62	(0.12)	0.00	(0.16)	0.00	0.00	1.82	(1.35)	4.13
CSDIX	0.67	0.03	(0.07)	0.42	0.85	(0.70)	1.24	(1.35)	4.66
PFPMX	0.58	0.00	(0.04)	0.09	0.58	(0.65)	1.42	(1.09)	3.41

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