Brandes Small Correlations

BSCMX Fund

USD 17.95 0.03 0.17%

The current 90-days correlation between Brandes Small Cap and Intermediate Government Bond is 0.18 (i.e., Average diversification). The correlation of Brandes Small 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.

Brandes Small Correlation With Market

Modest diversification

The correlation between Brandes Small Cap and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brandes Small Cap 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 Brandes Small Cap. 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 population.

Moving together with Brandes Mutual Fund

0.8	BSCRX	Brandes Small Cap	Pair Corr
1.0	BSCAX	Brandes Small Cap	Pair Corr
0.93	VSIIX	Vanguard Small Cap	Pair Corr
0.9	VISVX	Vanguard Small Cap	Pair Corr
0.91	DFSVX	Us Small Cap	Pair Corr
0.95	DFFVX	Us Targeted Value	Pair Corr
0.94	UBVCX	Undiscovered Managers	Pair Corr
0.94	UBVAX	Undiscovered Managers	Pair Corr
0.91	UBVSX	Undiscovered Managers	Pair Corr
0.9	AVFIX	American Beacon Small	Pair Corr
0.89	LSHUX	Horizon Spin Off Downward Rally	Pair Corr
0.89	KMKCX	Kinetics Market Oppo	Pair Corr
0.87	KNPYX	Kinetics Paradigm	Pair Corr
0.91	KMKAX	Kinetics Market Oppo	Pair Corr
0.85	LSHCX	Horizon Spin Off Downward Rally	Pair Corr
0.87	WWNPX	Kinetics Paradigm	Pair Corr
0.87	KNPCX	Kinetics Paradigm	Pair Corr
0.9	KNPAX	Kinetics Paradigm	Pair Corr

Moving against Brandes Mutual Fund

0.8	BIECX	Brandes International	Pair Corr
0.79	BIERX	Brandes International	Pair Corr
0.79	BIEAX	Brandes International	Pair Corr
0.74	BIIEX	Brandes International	Pair Corr
0.55	BCPRX	Brandes E Plus	Pair Corr
0.52	BCPIX	Brandes E Plus	Pair Corr
0.51	BEMCX	Brandes Emerging Markets	Pair Corr
0.5	BEMIX	Brandes Emerging Markets	Pair Corr
0.49	BEMAX	Brandes Emerging Markets	Pair Corr
0.49	BEMRX	Brandes Emerging Markets	Pair Corr
0.38	BINCX	Brandes International	Pair Corr
0.43	SMARX	Brandes Separately	Pair Corr
0.38	BISMX	Brandes International	Pair Corr

Related Correlations Analysis

	DPIGX	PFGAX	UGSDX	DACGX	HUMXX	SNGYX
DPIGX		0.25	0.39	0.29	0.0	0.27	DPIGX
PFGAX	0.25		-0.19	0.99	0.0	0.98	PFGAX
UGSDX	0.39	-0.19		-0.15	0.0	-0.18	UGSDX
DACGX	0.29	0.99	-0.15		0.0	1.0	DACGX
HUMXX	0.0	0.0	0.0	0.0		0.0	HUMXX
SNGYX	0.27	0.98	-0.18	1.0	0.0		SNGYX
	DPIGX	PFGAX	UGSDX	DACGX	HUMXX	SNGYX

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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

SNGYX	+ 1.0	DACGX
DACGX	+ 0.99	PFGAX
SNGYX	+ 0.98	PFGAX
UGSDX	+ 0.39	DPIGX
DACGX	+ 0.29	DPIGX
SNGYX	+ 0.27	DPIGX

High negative correlations

UGSDX	- 0.19	PFGAX
SNGYX	- 0.18	UGSDX
DACGX	- 0.15	UGSDX
SNGYX	- 0.0	HUMXX
HUMXX	- 0.0	DACGX
HUMXX	- 0.0	UGSDX

Risk-Adjusted Indicators

There is a big difference between Brandes Mutual Fund performing well and Brandes Small 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 Brandes Small'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DPIGX	0.04	0.00	(0.91)	(0.51)	(0.13)	0.11	(0.11)	0.42
PFGAX	0.58	(0.10)	0.00	1.03	0.00	1.14	(1.36)	3.51
UGSDX	0.05	0.00	0.00	0.60	0.00	0.00	0.00	1.03
DACGX	0.19	(0.03)	0.00	1.99	0.00	0.32	(0.48)	1.03
HUMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SNGYX	0.16	(0.03)	0.00	9.37	0.00	0.29	(0.29)	0.96

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