Mercer Opportunistic Correlations

MOFIX Fund

USD 8.51 0.01 0.12%

The current 90-days correlation between Mercer Opportunistic and Mercer Emerging Markets is 0.27 (i.e., Modest diversification). The correlation of Mercer Opportunistic 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.

Mercer Opportunistic Correlation With Market

Almost no diversification

The correlation between Mercer Opportunistic Fixed 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 Mercer Opportunistic Fixed 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 Mercer Opportunistic Fixed. 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 gross domestic product.

Moving together with Mercer Mutual Fund

1.0	MOFTX	Mercer Opportunistic	Pair Corr
0.9	MSDYX	Mercer Funds	Pair Corr
0.91	MSCGX	Mercer Smallmid Cap	Pair Corr
0.78	MCFIX	Mercer Core Fixed	Pair Corr
0.79	MCFQX	Mercer Core Fixed	Pair Corr
0.89	MEMSX	Mercer Emerging Markets	Pair Corr
0.89	MEMQX	Mercer Emerging Markets	Pair Corr
0.94	PONCX	Pimco Income	Pair Corr
0.94	PONAX	Pimco Income	Pair Corr
0.94	PIPNX	Pimco Income	Pair Corr
0.94	PONRX	Pimco Income	Pair Corr
0.94	PONPX	Pimco Incme Fund	Pair Corr
0.94	PIINX	Pimco Income	Pair Corr
0.94	PIMIX	Pimco Income	Pair Corr
0.97	LBNDX	Lord Abbett Bond	Pair Corr
0.96	FSTAX	Fidelity Advisor Str	Pair Corr
0.96	FSRIX	Fidelity Advisor Str	Pair Corr
0.86	NHS	Neuberger Berman High	Pair Corr
0.9	IBBFX	Thrivent Balanced Income	Pair Corr
0.9	FSRTX	Fidelity Strategic Real	Pair Corr
0.89	FCHKX	Fidelity China Region	Pair Corr
0.85	RPPVX	American Funds Prese	Pair Corr
0.89	SIEYX	International Equity	Pair Corr
0.75	JCNAX	Janus Contrarian	Pair Corr
0.93	OSIYX	Oppenheimer Strategic	Pair Corr
0.9	FSIRX	Fidelity Strategic Real	Pair Corr
0.82	ERIFX	Eaton Vance Balanced	Pair Corr
0.97	JHYFX	Janus High Yield	Pair Corr
0.92	IFACX	Income Fund	Pair Corr
0.95	AYBLX	Pioneer Classic Balanced	Pair Corr
0.96	ATOBX	Aberdeen Ultra Short	Pair Corr
0.9	RYSPX	Sp 500 Fund	Pair Corr
0.93	SRUIX	Spectrum Fund Instit	Pair Corr
0.78	PRMTX	T Rowe Price	Pair Corr
0.66	SCPWX	Carillon Reams Core	Pair Corr
0.65	PGRKX	Global Real Estate	Pair Corr

Related Correlations Analysis

	MNCSX	MNCEX	MOFIX	MSCGX	MSCQX	MCFIX	MCFQX	MEMSX	MEMQX
MNCSX		1.0	0.01	-0.27	0.85	0.22	0.17	0.24	0.24	MNCSX
MNCEX	1.0		0.03	-0.26	0.85	0.23	0.18	0.26	0.26	MNCEX
MOFIX	0.01	0.03		0.91	0.29	0.78	0.79	0.89	0.89	MOFIX
MSCGX	-0.27	-0.26	0.91		0.08	0.64	0.68	0.81	0.81	MSCGX
MSCQX	0.85	0.85	0.29	0.08		0.44	0.4	0.39	0.39	MSCQX
MCFIX	0.22	0.23	0.78	0.64	0.44		0.98	0.71	0.71	MCFIX
MCFQX	0.17	0.18	0.79	0.68	0.4	0.98		0.71	0.71	MCFQX
MEMSX	0.24	0.26	0.89	0.81	0.39	0.71	0.71		1.0	MEMSX
MEMQX	0.24	0.26	0.89	0.81	0.39	0.71	0.71	1.0		MEMQX
	MNCSX	MNCEX	MOFIX	MSCGX	MSCQX	MCFIX	MCFQX	MEMSX	MEMQX

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

MNCEX	+ 1.0	MNCSX
MEMQX	+ 1.0	MEMSX
MCFQX	+ 0.98	MCFIX
MSCGX	+ 0.91	MOFIX
MEMSX	+ 0.89	MOFIX
MEMQX	+ 0.89	MOFIX

High negative correlations

MSCGX	- 0.27	MNCSX
MSCGX	- 0.26	MNCEX

Risk-Adjusted Indicators

There is a big difference between Mercer Mutual Fund performing well and Mercer Opportunistic 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 Mercer Opportunistic'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
MNCSX	0.71	(0.01)	(0.03)	0.02	1.77	(0.69)	1.19	(1.24)	10.38
MNCEX	0.73	(0.01)	(0.03)	0.03	1.74	(0.73)	1.16	(1.23)	10.31
MOFIX	0.10	0.01	(0.27)	0.15	0.00	(0.17)	0.24	(0.12)	0.95
MSCGX	0.84	0.16	0.21	0.19	0.53	(1.07)	1.98	(1.31)	9.73
MSCQX	0.77	(0.02)	(0.03)	0.03	1.25	(0.81)	1.89	(1.65)	8.21
MCFIX	0.14	0.01	(0.21)	0.37	0.00	(0.19)	0.34	(0.22)	0.67
MCFQX	0.14	0.01	(0.24)	0.49	0.00	(0.19)	0.33	(0.22)	0.67
MEMSX	0.61	0.14	0.13	0.35	0.57	(0.69)	1.61	(1.17)	3.66
MEMQX	0.60	0.14	0.13	0.35	0.57	(0.67)	1.52	(1.17)	3.56

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