International Equity Correlations

Mutual Funds . USA . 
Fund . International Equity Index
GIIYX Fund  USD 11.64  0.06  0.52%   
The current 90-days correlation between International Equity and Jpmorgan High Yield is 0.26 (i.e., Modest diversification). The correlation of International Equity 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 Equity Correlation With Market

Modest diversification

The correlation between International Equity Index and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding International Equity Index and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in International Equity Index. 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

  0.64GCOZX Growth AllocationPairCorr
  0.8GEMYX Emerging Markets EquityPairCorr
  0.8GEMZX Emerging Markets EquityPairCorr
  0.64GFIZX Conservative AllocationPairCorr
  0.63GGBZX Aggressive AllocationPairCorr
  0.73GGBEX Global Bond FundPairCorr
  0.76GGBFX Global Bond FundPairCorr
  0.65GGIZX Balanced AllocationPairCorr
  0.65GGRYX Growth AllocationPairCorr
  0.74GIEYX International EquityPairCorr
  0.69GIEZX International EquityPairCorr
  0.94GIIZX Guidestone Funds IntPairCorr
  0.68GMDYX Medium Duration BondPairCorr
  0.68GMDZX Medium Duration BondPairCorr
  0.71GMBYX Guidestone FundsPairCorr
  0.68GMBZX Guidestone FundsPairCorr
  0.61GMFZX Mydestination 2045PairCorr
  0.61GMEYX Guidestone Funds ImpactPairCorr
  0.61GMEZX Guidestone Funds ImpactPairCorr
  0.62GMGYX Mydestination 2055PairCorr
  0.62GMGZX Mydestination 2055PairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between International Mutual Fund performing well and International Equity 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 Equity'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.

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