Virtus Emerging Correlations

VAESX Fund

USD 15.48 0.03 0.19%

The current 90-days correlation between Virtus Emerging Markets and Virtus International Small Cap is 0.72 (i.e., Poor diversification). The correlation of Virtus Emerging 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.

Virtus Emerging Correlation With Market

Weak diversification

The correlation between Virtus Emerging Markets and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Virtus Emerging Markets 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 Virtus Emerging Markets. 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 state.

Moving together with Virtus Mutual Fund

0.95	HIEMX	Virtus Emerging Markets	Pair Corr
0.77	STITX	Ridgeworth International	Pair Corr

Moving against Virtus Mutual Fund

0.36	SAMBX	Ridgeworth Seix Floating	Pair Corr
0.35	SAGAX	Ridgeworth Innovative	Pair Corr
0.35	PFSRX	Virtus Senior Floating	Pair Corr
0.35	PXQSX	Virtus Kar Small	Pair Corr
0.31	SSTFX	Virtus Kar Capital	Pair Corr
0.38	WCFRX	Virtus Westchester Credit	Pair Corr
0.35	SCATX	Ridgeworth Innovative	Pair Corr

Related Correlations Analysis

	VISAX	MFAPX	ARTYX	PSGAX	WAINX
VISAX		0.68	-0.32	-0.57	0.87	VISAX
MFAPX	0.68		0.36	-0.01	0.59	MFAPX
ARTYX	-0.32	0.36		0.8	-0.32	ARTYX
PSGAX	-0.57	-0.01	0.8		-0.51	PSGAX
WAINX	0.87	0.59	-0.32	-0.51		WAINX
	VISAX	MFAPX	ARTYX	PSGAX	WAINX

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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

WAINX	+ 0.87	VISAX
PSGAX	+ 0.8	ARTYX
MFAPX	+ 0.68	VISAX
WAINX	+ 0.59	MFAPX
ARTYX	+ 0.36	MFAPX

High negative correlations

PSGAX	- 0.57	VISAX
WAINX	- 0.51	PSGAX
WAINX	- 0.32	ARTYX
ARTYX	- 0.32	VISAX
PSGAX	- 0.01	MFAPX

Risk-Adjusted Indicators

There is a big difference between Virtus Mutual Fund performing well and Virtus Emerging 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 Virtus Emerging'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
VISAX	0.54	(0.09)	0.00	(0.15)	0.00	0.00	0.81	(1.43)	3.40
MFAPX	0.76	(0.09)	(0.12)	0.00	1.01	(0.73)	1.47	(1.45)	5.81
ARTYX	0.75	0.10	0.06	0.26	0.83	(0.86)	1.50	(1.63)	5.46
PSGAX	0.87	0.05	0.09	0.16	0.68	(1.01)	2.09	(1.20)	6.10
WAINX	0.73	(0.07)	0.00	(0.04)	0.00	0.00	1.48	(1.77)	4.61

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