Emerging Markets Correlations

RYIEX Fund

USD 59.59 0.11 0.18%

The current 90-days correlation between Emerging Markets Bond and Basic Materials Fund is 0.21 (i.e., Modest 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

Very weak diversification

The correlation between Emerging Markets Bond and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Emerging Markets Bond 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 Emerging Markets Bond. 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 Emerging Mutual Fund

0.65	RYBKX	Banking Fund Class	Pair Corr
0.72	RYBHX	Sp Midcap 400	Pair Corr
0.73	RYBOX	Biotechnology Fund Class	Pair Corr
0.61	RYATX	Nasdaq 100 Fund	Pair Corr
0.77	RYDHX	Dow Jones Industrial	Pair Corr
0.77	RYDKX	Dow Jones Industrial	Pair Corr
0.69	RYCFX	Biotechnology Fund Class	Pair Corr
0.64	RYCCX	Nasdaq 100 2x	Pair Corr

Moving against Emerging Mutual Fund

0.62	RYAUX	Utilities Fund Class	Pair Corr
0.46	RYARX	Inverse Sp 500	Pair Corr
0.45	RYACX	Inverse Nasdaq 100	Pair Corr
0.43	RYAPX	Inverse Nasdaq 100	Pair Corr
0.42	RYALX	Inverse Nasdaq 100	Pair Corr
0.36	RYABX	Government Long Bond	Pair Corr
0.33	RYAFX	Inverse Russell 2000	Pair Corr
0.32	RYAIX	Inverse Nasdaq 100	Pair Corr
0.77	RYCZX	Inverse Dow 2x	Pair Corr
0.76	RYCWX	Inverse Dow 2x	Pair Corr
0.64	RYCBX	Inverse Sp 500	Pair Corr
0.62	RYCUX	Utilities Fund Class	Pair Corr
0.54	RYCDX	Rydex Inverse Nasdaq	Pair Corr
0.38	RYCGX	Government Long Bond	Pair Corr
0.35	RYGBX	Government Long Bond	Pair Corr
0.34	RYCPX	Consumer Products	Pair Corr

Related Correlations Analysis

	RYBCX	RYBAX	RYBKX	RYBMX	RYBHX	RYBIX	RYBOX	RYABX	RYACX	RYAIX
RYBCX		1.0	0.88	0.98	0.76	1.0	0.91	-0.67	-0.17	-0.07	RYBCX
RYBAX	1.0		0.89	0.98	0.77	1.0	0.9	-0.67	-0.18	-0.07	RYBAX
RYBKX	0.88	0.89		0.88	0.83	0.89	0.87	-0.8	-0.32	-0.31	RYBKX
RYBMX	0.98	0.98	0.88		0.73	0.97	0.91	-0.65	-0.18	-0.14	RYBMX
RYBHX	0.76	0.77	0.83	0.73		0.78	0.73	-0.49	-0.62	-0.42	RYBHX
RYBIX	1.0	1.0	0.89	0.97	0.78		0.9	-0.67	-0.19	-0.08	RYBIX
RYBOX	0.91	0.9	0.87	0.91	0.73	0.9		-0.7	-0.18	-0.13	RYBOX
RYABX	-0.67	-0.67	-0.8	-0.65	-0.49	-0.67	-0.7		-0.05	0.01	RYABX
RYACX	-0.17	-0.18	-0.32	-0.18	-0.62	-0.19	-0.18	-0.05		0.78	RYACX
RYAIX	-0.07	-0.07	-0.31	-0.14	-0.42	-0.08	-0.13	0.01	0.78		RYAIX
	RYBCX	RYBAX	RYBKX	RYBMX	RYBHX	RYBIX	RYBOX	RYABX	RYACX	RYAIX

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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

RYBAX	+ 1.0	RYBCX
RYBIX	+ 1.0	RYBCX
RYBIX	+ 1.0	RYBAX
RYBMX	+ 0.98	RYBCX
RYBMX	+ 0.98	RYBAX
RYBIX	+ 0.97	RYBMX

High negative correlations

RYABX	- 0.8	RYBKX
RYABX	- 0.7	RYBOX
RYABX	- 0.67	RYBIX
RYABX	- 0.67	RYBAX
RYABX	- 0.67	RYBCX
RYABX	- 0.65	RYBMX

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
RYBCX	1.32	0.28	0.19	0.34	1.10	(1.53)	2.59	(2.14)	14.56
RYBAX	1.27	0.24	0.17	0.29	1.11	(1.46)	2.60	(2.13)	11.92
RYBKX	0.81	0.16	0.08	0.64	1.20	(0.84)	2.08	(1.60)	6.51
RYBMX	1.24	0.31	0.18	1.68	1.07	(1.41)	2.60	(2.14)	11.45
RYBHX	0.89	0.03	0.04	0.09	0.90	(1.02)	1.92	(1.37)	4.56
RYBIX	1.25	0.21	0.15	0.26	1.12	(1.37)	2.59	(2.13)	10.32
RYBOX	1.09	0.48	0.45	(1.60)	0.24	(1.33)	2.18	(1.16)	17.96
RYABX	0.46	(0.06)	0.00	(0.27)	0.00	0.00	0.73	(1.15)	3.26
RYACX	0.83	0.02	0.00	0.05	0.00	0.00	2.06	(1.79)	6.14
RYAIX	0.85	(0.03)	0.00	0.34	0.00	0.00	2.05	(1.79)	6.16

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