Polar Capital Correlations

POLEX Fund

USD 8.32 0.01 0.12%

The current 90-days correlation between Polar Capital Emerging and Polar Capital Emerging is -0.09 (i.e., Good diversification). The correlation of Polar Capital 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.

Polar Capital Correlation With Market

Very weak diversification

The correlation between Polar Capital Emerging and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Polar Capital Emerging and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Polar Capital Emerging. 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 income.

Moving together with Polar Mutual Fund

0.95	VEMAX	Vanguard Emerging Markets	Pair Corr
0.95	VEIEX	Vanguard Emerging Markets	Pair Corr
0.95	VEMIX	Vanguard Emerging Markets	Pair Corr
0.95	VEMRX	Vanguard Emerging Markets	Pair Corr
0.96	FWWNX	American Funds New	Pair Corr
0.96	FNFWX	American Funds New	Pair Corr
0.96	NEWFX	New World Fund	Pair Corr
0.96	NWFFX	New World Fund	Pair Corr
0.95	NEWCX	New World Fund	Pair Corr
0.96	ODVYX	Oppenheimer Developing	Pair Corr
0.63	NHS	Neuberger Berman High	Pair Corr
0.74	RIV	Rivernorth Opportunities	Pair Corr
0.66	PAHHX	T Rowe Price	Pair Corr

Moving against Polar Mutual Fund

0.58	PFHCX	Pacific Funds Small	Pair Corr
0.37	PPRWX	Putnam Panagora Risk	Pair Corr
0.36	PPRPX	Putnam Panagora Risk	Pair Corr
0.34	PPROX	Putnam Panagora Risk	Pair Corr

Related Correlations Analysis

	POLCX	THMAX	VIGAX	FFIDX	VGOSX	CMEUX	VTHRX	VTSAX	FPURX
POLCX		-0.11	-0.26	-0.06	-0.28	-0.17	0.22	-0.24	-0.17	POLCX
THMAX	-0.11		0.94	0.97	0.94	0.98	0.89	0.97	0.99	THMAX
VIGAX	-0.26	0.94		0.97	1.0	0.98	0.71	0.99	0.97	VIGAX
FFIDX	-0.06	0.97	0.97		0.96	0.99	0.83	0.97	0.98	FFIDX
VGOSX	-0.28	0.94	1.0	0.96		0.98	0.7	0.99	0.97	VGOSX
CMEUX	-0.17	0.98	0.98	0.99	0.98		0.81	0.99	0.99	CMEUX
VTHRX	0.22	0.89	0.71	0.83	0.7	0.81		0.75	0.82	VTHRX
VTSAX	-0.24	0.97	0.99	0.97	0.99	0.99	0.75		0.99	VTSAX
FPURX	-0.17	0.99	0.97	0.98	0.97	0.99	0.82	0.99		FPURX
	POLCX	THMAX	VIGAX	FFIDX	VGOSX	CMEUX	VTHRX	VTSAX	FPURX

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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

VGOSX	+ 1.0	VIGAX
FPURX	+ 0.99	THMAX
VTSAX	+ 0.99	VIGAX
CMEUX	+ 0.99	FFIDX
VTSAX	+ 0.99	VGOSX
VTSAX	+ 0.99	CMEUX

High negative correlations

VGOSX	- 0.28	POLCX
VIGAX	- 0.26	POLCX
VTSAX	- 0.24	POLCX
FPURX	- 0.17	POLCX
CMEUX	- 0.17	POLCX
THMAX	- 0.11	POLCX

Risk-Adjusted Indicators

There is a big difference between Polar Mutual Fund performing well and Polar Capital 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 Polar Capital'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
POLCX	0.77	(0.11)	0.00	(1.47)	0.00	0.00	1.42	(1.57)	5.07
THMAX	0.36	(0.01)	(0.13)	0.10	0.34	(0.43)	0.73	(0.78)	2.29
VIGAX	0.71	0.01	0.00	0.13	1.01	(0.67)	1.64	(2.01)	5.18
FFIDX	0.63	(0.03)	(0.04)	0.09	0.93	(0.60)	1.29	(1.95)	4.38
VGOSX	0.76	0.02	0.01	0.15	1.06	(0.70)	1.92	(2.33)	4.90
CMEUX	0.57	0.00	(0.03)	0.12	0.66	(0.65)	1.27	(1.56)	3.73
VTHRX	0.35	(0.03)	(0.19)	0.06	0.41	(0.36)	0.78	(0.70)	2.10
VTSAX	0.58	0.01	0.00	0.13	0.64	(0.62)	1.29	(1.31)	4.11
FPURX	0.41	0.00	(0.08)	0.12	0.44	(0.45)	0.99	(0.94)	2.82

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