Stone Harbor Correlations

Mutual Funds . USA . 
Fund . Stone Harbor Emerging
SHMDX Fund  USD 7.49  0.01  0.13%   
The current 90-days correlation between Stone Harbor Emerging and Fidelity New Markets is 0.89 (i.e., Very poor 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

Average diversification

The correlation between Stone Harbor Emerging and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Stone Harbor Emerging 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 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 unemployment.

Moving together with Stone Mutual Fund

  0.87SHCDX Stone Harbor EmergingPairCorr
  0.94FGBMX Fidelity New MarketsPairCorr
  0.94FGZMX Fidelity New MarketsPairCorr
  0.94FGWMX Fidelity New MarketsPairCorr
  0.94FGVMX Fidelity New MarketsPairCorr
  0.93FGYMX Fidelity New MarketsPairCorr
  0.92MEDIX Mfs Emerging MarketsPairCorr
  0.89MEDCX Mfs Emerging MarketsPairCorr
  0.91MEDAX Mfs Emerging MarketsPairCorr
  0.9MEDBX Mfs Emerging MarketsPairCorr
  0.91MEDEX Mfs Emerging MarketsPairCorr
  0.93BXECX Barings Emerging MarketsPairCorr
  0.93BXEIX Barings Emerging MarketsPairCorr
  0.93BXEAX Barings Emerging MarketsPairCorr
  0.62HLDIX Hartford EmergingPairCorr
  0.62HLDRX Hartford EmergingPairCorr
  0.62HLDAX Hartford EmergingPairCorr
  0.62HLDTX Hartford EmergingPairCorr
  0.79FISRX Franklin IncomePairCorr
  0.79LBNTX Lord Abbett BondPairCorr
  0.86JNBSX Jpmorgan Income BuilderPairCorr
  0.61FQIIX New Hampshire HigherPairCorr
  0.71CAIBX Capital Income BuilderPairCorr
  0.87FSNKX Fidelity Freedom 2010PairCorr

Related Correlations Analysis

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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.

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