Arga Emerging Correlations

ARMIX Fund

USD 10.25 0.37 3.48%

The current 90-days correlation between Arga Emerging Markets and Astonriver Road Independent is 0.86 (i.e., Very poor diversification). The correlation of Arga 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.

Arga Emerging Correlation With Market

Significant diversification

The correlation between Arga Emerging Markets and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Arga Emerging Markets 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 Arga 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 gross domestic product.

Moving together with Arga Mutual Fund

0.96	ARVIX	Astonriver Road Inde	Pair Corr
0.95	VEMAX	Vanguard Emerging Markets	Pair Corr
0.95	VEIEX	Vanguard Emerging Markets	Pair Corr
0.95	VEMIX	Vanguard Emerging Markets	Pair Corr
0.96	VEMRX	Vanguard Emerging Markets	Pair Corr
0.87	FWWNX	American Funds New	Pair Corr
0.87	FNFWX	American Funds New	Pair Corr
0.88	NEWFX	New World Fund	Pair Corr
0.88	NWFFX	New World Fund	Pair Corr
0.9	NEWCX	New World Fund	Pair Corr
0.94	ODVYX	Oppenheimer Developing	Pair Corr
0.9	GAAVX	Gmo Alternative Allo	Pair Corr
0.73	GABFX	Gmo Asset Allocation	Pair Corr

Moving against Arga Mutual Fund

0.46	GCAVX	Gmo Small Cap	Pair Corr
0.86	FORFX	Forum Real Estate	Pair Corr
0.79	CLCQX	Columbia Disciplined	Pair Corr
0.74	BIOIX	Baron Opportunity	Pair Corr
0.71	VFIAX	Vanguard 500 Index	Pair Corr
0.69	CMTFX	Columbia Global Tech	Pair Corr
0.69	PRGTX	T Rowe Price	Pair Corr
0.68	SMFPX	Salient Mlp Energy	Pair Corr
0.67	KSCYX	Kinetics Small Cap Steady Growth	Pair Corr
0.65	CVVRX	Columbia Small Cap	Pair Corr
0.64	TEFQX	Firsthand Technology	Pair Corr
0.64	ACSIX	Salient Adaptive Equity	Pair Corr
0.53	FBALX	Fidelity Balanced	Pair Corr
0.51	CGSAX	Columbia Growth 529	Pair Corr
0.45	MDCEX	Matisse Discounted	Pair Corr
0.76	MLAIX	Mainstay Large Cap	Pair Corr
0.75	FNPIX	Financials Ultrasector	Pair Corr
0.72	JLGMX	Jpmorgan Large Cap	Pair Corr
0.69	HOSTX	Holbrook Structured	Pair Corr

Related Correlations Analysis

	ARVIX	PGTAX	KCGSX	PGTIX	TGVVX	NFICX	MPAIX	FDGRX	LARCX
ARVIX		-0.03	-0.71	-0.69	-0.59	-0.74	-0.79	-0.62	-0.75	ARVIX
PGTAX	-0.03		0.47	0.47	0.6	0.37	0.35	0.55	0.32	PGTAX
KCGSX	-0.71	0.47		0.97	0.87	0.81	0.95	0.92	0.89	KCGSX
PGTIX	-0.69	0.47	0.97		0.84	0.76	0.89	0.91	0.87	PGTIX
TGVVX	-0.59	0.6	0.87	0.84		0.82	0.84	0.82	0.77	TGVVX
NFICX	-0.74	0.37	0.81	0.76	0.82		0.87	0.79	0.92	NFICX
MPAIX	-0.79	0.35	0.95	0.89	0.84	0.87		0.88	0.92	MPAIX
FDGRX	-0.62	0.55	0.92	0.91	0.82	0.79	0.88		0.87	FDGRX
LARCX	-0.75	0.32	0.89	0.87	0.77	0.92	0.92	0.87		LARCX
	ARVIX	PGTAX	KCGSX	PGTIX	TGVVX	NFICX	MPAIX	FDGRX	LARCX

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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

PGTIX	+ 0.97	KCGSX
MPAIX	+ 0.95	KCGSX
FDGRX	+ 0.92	KCGSX
LARCX	+ 0.92	NFICX
LARCX	+ 0.92	MPAIX
FDGRX	+ 0.91	PGTIX

High negative correlations

MPAIX	- 0.79	ARVIX
LARCX	- 0.75	ARVIX
NFICX	- 0.74	ARVIX
KCGSX	- 0.71	ARVIX
PGTIX	- 0.69	ARVIX
FDGRX	- 0.62	ARVIX

Risk-Adjusted Indicators

There is a big difference between Arga Mutual Fund performing well and Arga 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 Arga 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
ARVIX	0.84	0.00	0.00	0.00	0.00	0.00	1.37	(2.55)	7.23
PGTAX	0.94	(0.05)	0.00	(1.73)	0.00	0.00	1.60	(2.46)	7.09
KCGSX	0.61	0.08	0.05	0.86	0.92	(0.60)	1.30	(1.26)	5.71
PGTIX	0.87	0.10	0.06	0.98	1.18	(0.94)	1.70	(2.24)	5.10
TGVVX	0.76	0.05	0.02	0.34	1.27	(0.68)	1.42	(1.84)	6.39
NFICX	0.05	0.01	0.00	3.26	0.00	0.00	0.11	0.00	0.75
MPAIX	1.12	0.31	0.23	(108.15)	1.03	(1.41)	2.30	(1.56)	10.14
FDGRX	0.92	0.02	0.00	0.15	2.05	(0.77)	1.68	(2.47)	10.29
LARCX	0.07	0.02	0.00	(4.48)	0.00	0.00	0.12	(0.12)	0.86

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