Emerging Markets Correlations

MMKBX Fund

USD 14.93 0.12 0.80%

The current 90-days correlation between Emerging Markets Por and Oil Gas Ultrasector is -0.16 (i.e., Good 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

Pay attention - limited upside

The correlation between Emerging Markets Portfolio and DJI is -0.73 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Emerging Markets Portfolio and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Emerging Markets Portfolio. 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 bureau of labor statistics.

Moving together with Emerging Mutual Fund

0.96	MMMPX	Msif Emerging Markets	Pair Corr
0.96	MRGEX	Msif Emerging Markets	Pair Corr

Moving against Emerging Mutual Fund

0.91	MAIJX	Morgan Stanley Insti	Pair Corr
0.86	MLMAX	Global E Portfolio	Pair Corr
0.86	MLMCX	Global E Portfolio	Pair Corr
0.86	MLMIX	Global E Portfolio	Pair Corr
0.86	MLMSX	Global E Portfolio	Pair Corr
0.85	MPBAX	Global Strategist	Pair Corr
0.84	TIEUX	International Equity	Pair Corr
0.81	MRHYX	Msift High Yield	Pair Corr
0.8	MLNSX	Global Centrated Por	Pair Corr
0.8	MLNCX	Global Centrated Por	Pair Corr
0.8	MLNAX	Global Centrated Por	Pair Corr
0.8	MLNIX	Global Centrated Por	Pair Corr
0.74	THYUX	High Yield Fund	Pair Corr
0.66	TEMUX	Emerging Markets Equity	Pair Corr
0.62	TIIUX	Core Fixed Income	Pair Corr
0.61	MPFDX	Corporate Bond Portfolio	Pair Corr
0.45	TIFUX	International Fixed	Pair Corr
0.95	MSFLX	Global Franchise Por	Pair Corr
0.92	MSGFX	Global Franchise Por	Pair Corr
0.91	MAIHX	Morgan Stanley Insti	Pair Corr
0.91	MSAAX	Active International	Pair Corr
0.89	MSDFX	Morgan Stanley Insti	Pair Corr
0.89	MSCZX	Morgan Stanley Insti	Pair Corr
0.85	MSDKX	Morgan Stanley Insti	Pair Corr
0.78	MSDEX	Morgan Stanley Insti	Pair Corr
0.72	MSACX	Active International	Pair Corr
0.68	MSDLX	Global Strategist	Pair Corr
0.67	MSDOX	Morgan Stanley Insti	Pair Corr

Related Correlations Analysis

	GMOWX	FSLEX	RYEIX	ICBAX	DLDCX	CGAEX	ENPSX
GMOWX		0.84	0.94	0.88	0.97	0.96	0.93	GMOWX
FSLEX	0.84		0.81	0.94	0.91	0.88	0.81	FSLEX
RYEIX	0.94	0.81		0.82	0.93	0.93	0.99	RYEIX
ICBAX	0.88	0.94	0.82		0.95	0.87	0.81	ICBAX
DLDCX	0.97	0.91	0.93	0.95		0.94	0.92	DLDCX
CGAEX	0.96	0.88	0.93	0.87	0.94		0.93	CGAEX
ENPSX	0.93	0.81	0.99	0.81	0.92	0.93		ENPSX
	GMOWX	FSLEX	RYEIX	ICBAX	DLDCX	CGAEX	ENPSX

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
GMOWX	1.09	0.32	0.17	(4.33)	1.24	(1.20)	2.52	(2.44)	7.24
FSLEX	0.77	0.04	0.03	0.10	1.07	(0.74)	1.37	(1.96)	5.01
RYEIX	1.08	0.21	0.15	0.45	1.05	(1.24)	2.69	(1.90)	5.17
ICBAX	1.19	0.34	0.30	0.35	0.73	(1.43)	2.82	(1.76)	12.87
DLDCX	1.07	0.33	0.21	0.42	1.13	(1.22)	2.44	(2.57)	6.26
CGAEX	0.78	0.15	0.08	(2.51)	0.90	(0.79)	1.57	(1.53)	3.78
ENPSX	1.64	0.39	0.19	0.78	1.63	(1.83)	3.93	(2.80)	7.98

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