Focused International Correlations

AFCSX Fund

USD 17.16 0.06 0.35%

The current 90-days correlation between Focused International and Legg Mason Global is 0.47 (i.e., Very weak diversification). The correlation of Focused International 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.

Focused International Correlation With Market

Good diversification

The correlation between Focused International Growth and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Focused International Growth and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Focused International Growth. 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 Focused Mutual Fund

0.75	AMDVX	Mid Cap Value	Pair Corr
0.72	AMKIX	Emerging Markets	Pair Corr
0.74	TWADX	Value Fund A	Pair Corr
0.75	AMVYX	Mid Cap Value	Pair Corr
0.69	AMVRX	Mid Cap Value	Pair Corr
0.69	AMVGX	Mid Cap Value	Pair Corr
0.73	TWEAX	Equity Income	Pair Corr
0.73	TWEIX	Equity Income	Pair Corr
0.86	TWGAX	International Growth	Pair Corr
0.84	TWGGX	Global Growth	Pair Corr
0.86	TWIEX	International Growth	Pair Corr
0.72	TWMIX	Emerging Markets	Pair Corr
0.63	TWSCX	Strategic Allocation:	Pair Corr
0.63	TWSAX	Strategic Allocation:	Pair Corr
0.73	TWSMX	Strategic Allocation:	Pair Corr
0.77	TWVLX	Value Fund Investor	Pair Corr
0.69	NPHIX	High Income Fund	Pair Corr

Related Correlations Analysis

	LFLCX	XAWFX	TACLX	SMYIX	LMLRX	GMLVX	TADGX	PHTTX
LFLCX		0.2	0.6	-0.04	0.48	0.77	0.5	0.64	LFLCX
XAWFX	0.2		0.66	0.62	0.64	0.0	0.66	0.6	XAWFX
TACLX	0.6	0.66		0.7	0.94	0.56	0.97	0.96	TACLX
SMYIX	-0.04	0.62	0.7		0.84	0.17	0.81	0.71	SMYIX
LMLRX	0.48	0.64	0.94	0.84		0.54	0.97	0.97	LMLRX
GMLVX	0.77	0.0	0.56	0.17	0.54		0.5	0.68	GMLVX
TADGX	0.5	0.66	0.97	0.81	0.97	0.5		0.95	TADGX
PHTTX	0.64	0.6	0.96	0.71	0.97	0.68	0.95		PHTTX
	LFLCX	XAWFX	TACLX	SMYIX	LMLRX	GMLVX	TADGX	PHTTX

Click cells to compare fundamentals

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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

TADGX	+ 0.97	TACLX
TADGX	+ 0.97	LMLRX
PHTTX	+ 0.97	LMLRX
PHTTX	+ 0.96	TACLX
PHTTX	+ 0.95	TADGX
LMLRX	+ 0.94	TACLX

High negative correlations

SMYIX	- 0.04	LFLCX
GMLVX	- 0.0	XAWFX

Risk-Adjusted Indicators

There is a big difference between Focused Mutual Fund performing well and Focused International 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 Focused International'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
LFLCX	0.17	0.01	0.07	(0.48)	0.12	(0.21)	0.43	(0.33)	0.98
XAWFX	0.16	(0.02)	0.00	0.58	0.00	0.00	0.26	(0.44)	1.50
TACLX	0.62	0.03	0.04	0.04	0.74	(0.64)	1.28	(1.14)	3.10
SMYIX	0.77	0.00	0.00	0.00	1.00	(0.80)	1.57	(1.62)	4.51
LMLRX	0.31	0.01	0.03	0.03	0.35	(0.34)	0.61	(0.60)	2.17
GMLVX	0.69	0.04	0.04	0.09	0.87	(0.76)	1.57	(1.62)	5.51
TADGX	0.60	0.04	0.06	0.05	0.67	(0.66)	1.06	(1.32)	3.18
PHTTX	0.33	0.00	0.01	0.01	0.41	(0.33)	0.67	(0.59)	1.95

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