Calvert Emerging Correlations

Mutual Funds . USA . 
Fund . Calvert Emerging Markets
CVMIX Fund  USD 18.32  0.03  0.16%   
The current 90-days correlation between Calvert Emerging Markets and Calvert Small Cap is 0.43 (i.e., Very weak diversification). The correlation of Calvert 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.

Calvert Emerging Correlation With Market

Weak diversification

The correlation between Calvert Emerging Markets and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Calvert 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 Calvert 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 Calvert Mutual Fund

  0.87CDHAX Calvert Developed MarketPairCorr
  0.87CDHRX Calvert InternationalPairCorr
  0.63CDSRX Calvert Short DurationPairCorr
  0.62CDSIX Calvert Short DurationPairCorr
  1.0CVMAX Calvert Emerging MarketsPairCorr
  0.87CVMRX Calvert Emerging MarketsPairCorr
  1.0CVMCX Calvert Emerging MarketsPairCorr
  0.83CEFAX Calvert Emerging MarketsPairCorr
  0.83CEFIX Congressional EffectPairCorr
  0.62CFAIX Calvert ConservativePairCorr
  0.79CWVIX Calvert InternationalPairCorr
  0.79CWVGX Calvert InternationalPairCorr
  0.79CWVCX Calvert InternationalPairCorr
  0.68CFICX Calvert IncomePairCorr
  0.73CFWCX Calvert Global WaterPairCorr
  0.74CFWAX Calvert Global WaterPairCorr
  0.7CFWIX Calvert Global WaterPairCorr
  0.64CGAFX Calvert Green BondPairCorr
  0.62CGACX Calvert Global EnergyPairCorr
  0.64CGBIX Calvert Green BondPairCorr
  0.61CYBIX Calvert High YieldPairCorr

Moving against Calvert Mutual Fund

  0.33CGJAX Calvert Large CapPairCorr
  0.33CGJIX Calvert Large CapPairCorr

Related Correlations Analysis

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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   
CBDIX
+ 0.98
CDSIX
CEYIX
+ 0.87
CSVIX
CBDIX
+ 0.76
COIIX
CDSIX
+ 0.71
COIIX
COIIX
+ 0.21
CEYIX
  
High negative correlations   
CDSIX
- 0.58
CSVIX
CBDIX
- 0.53
CSVIX
CDSIX
- 0.16
CEYIX
COIIX
- 0.14
CSVIX
CBDIX
- 0.12
CEYIX

Risk-Adjusted Indicators

There is a big difference between Calvert Mutual Fund performing well and Calvert 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 Calvert 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.

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