Stone Harbor Correlations

SHLMX Fund

USD 8.11 0.02 0.25%

The current 90-days correlation between Stone Harbor Local and Stone Harbor Emerging is 0.35 (i.e., Weak diversification). The correlation of Stone Harbor 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.

Stone Harbor Correlation With Market

Significant diversification

The correlation between Stone Harbor Local and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Stone Harbor Local and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Stone Harbor Local. 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 population.

Moving together with Stone Mutual Fund

0.93	PLMPX	Pimco Emerging Markets	Pair Corr
0.93	PLMIX	Pimco Emerging Markets	Pair Corr
0.98	PELPX	Pimco Emerging Local	Pair Corr
0.98	PELBX	Pimco Emerging Local	Pair Corr
0.98	PELAX	Pimco Emerging Local	Pair Corr
0.99	PELCX	Pimco Emerging Local	Pair Corr
0.98	PELNX	Pimco Emerging Local	Pair Corr
0.97	EEIIX	Eaton Vance Emerging	Pair Corr
0.99	EEICX	Eaton Vance Emerging	Pair Corr
0.99	EEIAX	Eaton Vance Emerging	Pair Corr

Moving against Stone Mutual Fund

0.82	KSOCX	Kinetics Small Cap	Pair Corr
0.81	KSCYX	Kinetics Small Cap	Pair Corr
0.81	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.81	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.76	LETRX	Voya Russia Fund	Pair Corr
0.82	KSCOX	Kinetics Small Cap	Pair Corr
0.81	KNPAX	Kinetics Paradigm Steady Growth	Pair Corr
0.81	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.8	KINAX	Kinetics Internet	Pair Corr
0.8	KINCX	Kinetics Internet	Pair Corr
0.7	FHCOX	Federated Hermes Con	Pair Corr
0.68	PRCCX	Putnam Convertible Incm	Pair Corr
0.68	SWPPX	Schwab Sp 500	Pair Corr
0.65	MUTHX	Franklin Mutual Shares	Pair Corr
0.65	VFINX	Vanguard 500 Index	Pair Corr
0.63	CGFFX	Growth Fund	Pair Corr
0.62	LGWIX	Ladenburg Growth	Pair Corr
0.57	PRDSX	T Rowe Price	Pair Corr
0.56	FBALX	Fidelity Balanced	Pair Corr
0.84	CLM	Cornerstone Strategic	Pair Corr
0.76	SMAPX	Salient Mlp Energy	Pair Corr
0.74	FSRFX	Transportation Portfolio	Pair Corr
0.74	PRMTX	T Rowe Price	Pair Corr

Related Correlations Analysis

	SHCDX	SHLMX	SHMDX	LBHIX	RYRUX	PRCCX	AMGOX	SRORX	FMSGX	MUTHX
SHCDX		0.49	0.87	0.54	-0.05	0.05	-0.02	0.32	0.6	-0.08	SHCDX
SHLMX	0.49		0.57	-0.17	-0.63	-0.68	-0.71	-0.34	-0.03	-0.65	SHLMX
SHMDX	0.87	0.57		0.56	0.04	0.09	0.03	0.39	0.62	0.01	SHMDX
LBHIX	0.54	-0.17	0.56		0.61	0.71	0.67	0.61	0.62	0.62	LBHIX
RYRUX	-0.05	-0.63	0.04	0.61		0.89	0.9	0.73	0.37	0.93	RYRUX
PRCCX	0.05	-0.68	0.09	0.71	0.89		0.99	0.81	0.54	0.95	PRCCX
AMGOX	-0.02	-0.71	0.03	0.67	0.9	0.99		0.8	0.49	0.96	AMGOX
SRORX	0.32	-0.34	0.39	0.61	0.73	0.81	0.8		0.79	0.76	SRORX
FMSGX	0.6	-0.03	0.62	0.62	0.37	0.54	0.49	0.79		0.4	FMSGX
MUTHX	-0.08	-0.65	0.01	0.62	0.93	0.95	0.96	0.76	0.4		MUTHX
	SHCDX	SHLMX	SHMDX	LBHIX	RYRUX	PRCCX	AMGOX	SRORX	FMSGX	MUTHX

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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

AMGOX	+ 0.99	PRCCX
MUTHX	+ 0.96	AMGOX
MUTHX	+ 0.95	PRCCX
MUTHX	+ 0.93	RYRUX
AMGOX	+ 0.9	RYRUX
PRCCX	+ 0.89	RYRUX

High negative correlations

AMGOX	- 0.71	SHLMX
PRCCX	- 0.68	SHLMX
MUTHX	- 0.65	SHLMX
RYRUX	- 0.63	SHLMX
SRORX	- 0.34	SHLMX
LBHIX	- 0.17	SHLMX

Risk-Adjusted Indicators

There is a big difference between Stone Mutual Fund performing well and Stone Harbor 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 Stone Harbor'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
SHCDX	0.10	0.00	(0.58)	0.32	0.12	(0.15)	0.13	(0.25)	1.00
SHLMX	0.36	(0.07)	0.00	(2.47)	0.00	0.00	0.62	(0.74)	2.36
SHMDX	0.22	0.00	(0.42)	0.20	0.19	(0.28)	0.40	(0.40)	1.61
LBHIX	0.12	0.02	(0.44)	1.66	0.00	(0.28)	0.24	(0.24)	0.96
RYRUX	1.84	0.24	0.07	0.92	1.95	(1.95)	4.16	(3.30)	15.20
PRCCX	0.38	0.07	0.01	0.26	0.16	(0.46)	0.98	(0.70)	1.94
AMGOX	0.76	0.13	0.14	0.26	0.77	(0.90)	2.11	(1.34)	4.74
SRORX	0.52	(0.04)	(0.11)	0.07	0.64	(0.56)	1.11	(1.25)	3.47
FMSGX	0.44	(0.01)	(0.15)	0.10	0.52	(0.47)	0.86	(1.00)	2.45
MUTHX	0.51	(0.01)	(0.05)	0.12	0.38	(0.58)	0.98	(0.89)	4.02

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