Wasatch Emerging Correlations

WAINX Fund

USD 6.92 0.07 1.02%

The current 90-days correlation between Wasatch Emerging India and Matthews India Fund is 0.81 (i.e., Very poor diversification). The correlation of Wasatch 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.

Wasatch Emerging Correlation With Market

Weak diversification

The correlation between Wasatch Emerging India and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wasatch Emerging India and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Wasatch Emerging India. 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 board of governors.

Moving together with Wasatch Mutual Fund

0.85	WAEMX	Wasatch Emerging Markets	Pair Corr
0.68	WAESX	Wasatch Emerging Markets	Pair Corr
0.86	WAFMX	Wasatch Frontier Emerging	Pair Corr
0.86	WAIOX	Wasatch International	Pair Corr
0.91	WAIGX	Wasatch International	Pair Corr
0.64	WHOSX	Wasatch Hoisington	Pair Corr
0.85	WIFMX	Wasatch Frontier Emerging	Pair Corr
0.85	WIEMX	Wasatch Emerging Markets	Pair Corr
0.68	WIESX	Wasatch Emerging Markets	Pair Corr
0.91	WIIGX	Wasatch International	Pair Corr
0.86	WIIOX	Wasatch International	Pair Corr
1.0	WIINX	Wasatch Emerging India	Pair Corr
0.77	WILCX	Wasatch Large Cap	Pair Corr
0.77	FMIEX	Wasatch Large Cap	Pair Corr
0.9	MIDNX	Matthews India	Pair Corr
0.9	MINDX	Matthews India	Pair Corr
0.91	INDAX	Alpskotak India Growth	Pair Corr
0.91	INFCX	Alpskotak India Growth	Pair Corr
0.91	INAAX	Alpskotak India Growth	Pair Corr
0.97	ECGIX	Eaton Vance Greater	Pair Corr
0.97	ETGIX	Eaton Vance Greater	Pair Corr

Moving against Wasatch Mutual Fund

0.5	WAMCX	Wasatch Ultra Growth	Pair Corr
0.5	WGMCX	Wasatch Ultra Growth	Pair Corr
0.5	WGMVX	Wasatch Micro Cap	Pair Corr
0.49	WAMVX	Wasatch Micro Cap	Pair Corr
0.48	WAAEX	Wasatch Small Cap	Pair Corr
0.42	WGICX	Wasatch Micro Cap	Pair Corr
0.48	WIAEX	Wasatch Small Cap	Pair Corr
0.43	WGROX	Wasatch E Growth	Pair Corr
0.43	WIGRX	Wasatch E Growth	Pair Corr
0.42	WMICX	Wasatch Micro Cap	Pair Corr
0.38	WICVX	Wasatch Small Cap	Pair Corr
0.38	WMCVX	Wasatch Small Cap	Pair Corr
0.5	GCAVX	Gmo Small Cap	Pair Corr
0.47	SMERX	Invesco Small Cap	Pair Corr
0.37	GMCQX	Gmo Equity Allocation	Pair Corr

Related Correlations Analysis

	MINDX	WAESX	WAEMX	SMIN	WAGOX
MINDX		0.44	0.7	0.95	-0.3	MINDX
WAESX	0.44		0.92	0.47	0.31	WAESX
WAEMX	0.7	0.92		0.72	0.1	WAEMX
SMIN	0.95	0.47	0.72		-0.21	SMIN
WAGOX	-0.3	0.31	0.1	-0.21		WAGOX
	MINDX	WAESX	WAEMX	SMIN	WAGOX

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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

SMIN	+ 0.95	MINDX
WAEMX	+ 0.92	WAESX
SMIN	+ 0.72	WAEMX
WAEMX	+ 0.7	MINDX
SMIN	+ 0.47	WAESX
WAESX	+ 0.44	MINDX

High negative correlations

WAGOX	- 0.3	MINDX
WAGOX	- 0.21	SMIN

Risk-Adjusted Indicators

There is a big difference between Wasatch Mutual Fund performing well and Wasatch 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 Wasatch 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	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MINDX	0.70	(0.13)	(0.14)	0.00	0.00	1.42	(1.64)	4.83
WAESX	0.74	(0.08)	(0.02)	0.00	0.00	1.31	(1.89)	4.40
WAEMX	0.69	(0.12)	(0.09)	0.00	0.00	1.35	(1.23)	4.11
SMIN	0.78	(0.10)	(0.15)	0.00	0.00	1.35	(2.05)	5.02
WAGOX	0.78	0.00	0.12	0.73	(0.94)	1.88	(1.26)	4.58

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