Driehaus Emerging Correlations

DRESX Fund

USD 20.94 0.23 1.09%

The current 90-days correlation between Driehaus Emerging Markets and Aig Government Money is -0.01 (i.e., Good diversification). The correlation of Driehaus 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.

Driehaus Emerging Correlation With Market

Weak diversification

The correlation between Driehaus Emerging Markets and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Driehaus Emerging Markets and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Driehaus 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 state.

Moving together with Driehaus Mutual Fund

0.67	DMCRX	Driehaus Micro Cap	Pair Corr
0.65	DEVDX	Driehaus Event Driven	Pair Corr
0.71	TCTGX	Transamerica Cleartrack	Pair Corr
0.71	TDKTX	Cleartrack 2015 Class	Pair Corr
0.72	TCTJX	Transamerica Cleartrack	Pair Corr
0.67	TCSUX	Cleartrack 2020 Class	Pair Corr

Moving against Driehaus Mutual Fund

0.78	ODIDX	Oaktree Diversifiedome	Pair Corr
0.74	PDI	Pimco Dynamic Income	Pair Corr
0.74	NWXEX	Nationwide Amundi	Pair Corr
0.72	FTCAX	Templeton Strained Bond	Pair Corr
0.7	WAFSX	Western Asset Inflation	Pair Corr
0.69	SHYMX	Stet Short Duration	Pair Corr
0.62	CMDAX	Columbia Conservative	Pair Corr
0.62	PGSVX	Pioneer Global Susta	Pair Corr
0.59	PYMPX	Pimco High Yield	Pair Corr
0.54	COBCX	American Funds Porate	Pair Corr
0.49	RLRPX	American Funds Retirement	Pair Corr
0.46	PAETX	Putnam Retirement	Pair Corr
0.42	USPIX	Profunds Ultrashort	Pair Corr
0.41	USPSX	Profunds Ultrashort	Pair Corr
0.33	UIPIX	Ultrashort Mid Cap	Pair Corr
0.31	TIISX	Tiaa Cref Intl	Pair Corr

Related Correlations Analysis

	SMAAX	JHMXX	IVMXX	SPAXX	FMFXX	JRSXX	IAAEX
SMAAX		0.0	0.0	0.75	0.0	0.0	0.13	SMAAX
JHMXX	0.0		0.0	0.0	0.0	0.0	0.0	JHMXX
IVMXX	0.0	0.0		0.0	0.0	0.0	0.0	IVMXX
SPAXX	0.75	0.0	0.0		0.0	0.0	-0.05	SPAXX
FMFXX	0.0	0.0	0.0	0.0		0.0	0.0	FMFXX
JRSXX	0.0	0.0	0.0	0.0	0.0		0.0	JRSXX
IAAEX	0.13	0.0	0.0	-0.05	0.0	0.0		IAAEX
	SMAAX	JHMXX	IVMXX	SPAXX	FMFXX	JRSXX	IAAEX

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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

SPAXX	+ 0.75	SMAAX
IAAEX	+ 0.13	SMAAX
JHMXX	+ 0.0	SMAAX
IVMXX	+ 0.0	SMAAX
FMFXX	+ 0.0	SMAAX
JRSXX	+ 0.0	SMAAX

High negative correlations

IAAEX	- 0.05	SPAXX
IAAEX	- 0.0	JRSXX
IAAEX	- 0.0	FMFXX
JRSXX	- 0.0	FMFXX
JRSXX	- 0.0	SPAXX
FMFXX	- 0.0	SPAXX

Risk-Adjusted Indicators

There is a big difference between Driehaus Mutual Fund performing well and Driehaus 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 Driehaus 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	Potential Upside	Value @Risk	Maximum Drawdown
SMAAX	0.14	(0.02)	(1.27)	0.20	(0.39)	0.90
JHMXX	0.00	0.00	0.00	0.00	0.00	0.00
IVMXX	0.00	0.00	0.00	0.00	0.00	0.00
SPAXX	0.03	0.01	(0.32)	0.00	0.00	1.01
FMFXX	0.00	0.00	0.00	0.00	0.00	0.00
JRSXX	0.00	0.00	0.00	0.00	0.00	0.00
IAAEX	0.81	(0.12)	1.00	1.41	(1.48)	9.17

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