Essex Environmental Correlations

EEOFX Fund

USD 12.43 0.23 1.89%

The current 90-days correlation between Essex Environmental and Transamerica Emerging Markets is 0.71 (i.e., Poor diversification). The correlation of Essex Environmental 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.

Essex Environmental Correlation With Market

Good diversification

The correlation between Essex Environmental Opportunit and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Essex Environmental Opportunit 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 Essex Environmental Opportunities. 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 census.

Moving together with Essex Mutual Fund

1.0	GEORX	Pear Tree Essex	Pair Corr
0.92	GEOSX	Essex Environmental	Pair Corr
0.84	USBNX	Pear Tree Polaris	Pair Corr
0.84	QBNAX	Pear Tree Polaris	Pair Corr
0.85	FSWFX	American Funds Smallcap	Pair Corr
0.85	FSFWX	American Funds Smallcap	Pair Corr
0.86	SCWCX	American Fds Smallcap	Pair Corr
0.86	SCWFX	Smallcap World	Pair Corr
0.88	SMCWX	Smallcap World	Pair Corr
0.85	CSPFX	Smallcap World	Pair Corr
0.86	CSPAX	Smallcap World	Pair Corr
0.86	CSPEX	Smallcap World	Pair Corr
0.86	RSLCX	Smallcap World	Pair Corr
0.85	RLLGX	Smallcap World	Pair Corr
0.66	RSNYX	Victory Global Natural	Pair Corr
0.71	SMPIX	Semiconductor Ultrasector	Pair Corr
0.67	RGNCX	Victory Global Natural	Pair Corr
0.71	SMPSX	Semiconductor Ultrasector	Pair Corr
0.67	RSNRX	Victory Global Natural	Pair Corr

Moving against Essex Mutual Fund

0.61	QUSOX	Pear Tree Polaris	Pair Corr
0.61	QUSIX	Pear Tree Polaris	Pair Corr
0.61	QUSRX	Pear Tree Polaris	Pair Corr
0.6	QISIX	Pear Tree Polaris	Pair Corr
0.6	QISRX	Pear Tree Polaris	Pair Corr
0.6	QISOX	Pear Tree Polaris	Pair Corr
0.58	QFVIX	Pear Tree Polaris	Pair Corr
0.58	QFVOX	Pear Tree Polaris	Pair Corr
0.58	QFVRX	Pear Tree Polaris	Pair Corr
0.75	CIHCX	Cullen International High	Pair Corr
0.31	ALVGX	Large Pany Value	Pair Corr
0.8	USGDX	Morgan Stanley Government	Pair Corr
0.75	HRBDX	Harbor Bond Fund	Pair Corr

Related Correlations Analysis

	TEOJX	FWOKX	AMTOX	FEMDX	SEDAX	BXECX	DBELX	EPASX
TEOJX		0.89	0.64	0.8	0.85	0.85	0.95	0.97	TEOJX
FWOKX	0.89		0.79	0.93	0.93	0.92	0.93	0.87	FWOKX
AMTOX	0.64	0.79		0.83	0.75	0.7	0.63	0.61	AMTOX
FEMDX	0.8	0.93	0.83		0.95	0.93	0.86	0.76	FEMDX
SEDAX	0.85	0.93	0.75	0.95		0.95	0.93	0.82	SEDAX
BXECX	0.85	0.92	0.7	0.93	0.95		0.93	0.81	BXECX
DBELX	0.95	0.93	0.63	0.86	0.93	0.93		0.94	DBELX
EPASX	0.97	0.87	0.61	0.76	0.82	0.81	0.94		EPASX
	TEOJX	FWOKX	AMTOX	FEMDX	SEDAX	BXECX	DBELX	EPASX

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Risk-Adjusted Indicators

There is a big difference between Essex Mutual Fund performing well and Essex Environmental 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 Essex Environmental'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
TEOJX	0.75	0.11	0.15	1.68	0.86	(0.85)	1.54	(1.53)	5.83
FWOKX	0.72	0.09	0.14	(0.58)	0.92	(0.73)	1.38	(1.35)	6.10
AMTOX	0.43	0.09	0.21	0.14	0.41	(0.53)	0.88	(0.99)	2.52
FEMDX	0.15	0.03	0.40	1.13	0.00	(0.20)	0.42	(0.26)	1.11
SEDAX	0.23	0.04	0.34	0.45	0.00	(0.33)	0.59	(0.36)	1.30
BXECX	0.18	0.05	0.44	(0.88)	0.00	(0.32)	0.55	(0.27)	1.21
DBELX	0.32	0.05	0.29	1.71	0.16	(0.44)	0.71	(0.48)	1.78
EPASX	0.51	0.06	0.16	0.74	0.57	(0.58)	1.02	(1.17)	3.67

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