Emerging Markets Correlations

EMRIX Fund

USD 14.90 0.07 0.47%

The current 90-days correlation between Emerging Markets and Cm Modity Index is 0.26 (i.e., Modest diversification). The correlation of Emerging Markets 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.

Emerging Markets Correlation With Market

Very weak diversification

The correlation between Emerging Markets Fund and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Emerging Markets Fund 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 Emerging Markets Fund. 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 Emerging Mutual Fund

0.75	EMBAX	Unconstrained Emerging	Pair Corr
0.76	EMBYX	Unconstrained Emerging	Pair Corr
0.75	EMBUX	Unconstrained Emerging	Pair Corr
1.0	EMRCX	Emerging Markets	Pair Corr
1.0	EMRZX	Vaneck Emerging Markets	Pair Corr
1.0	EMRYX	Emerging Markets	Pair Corr
0.75	INIVX	International Investors	Pair Corr
0.75	INIYX	International Investors	Pair Corr
0.75	INIIX	International Investors	Pair Corr
0.75	IIGCX	International Investors	Pair Corr
1.0	GBFAX	Emerging Markets	Pair Corr
0.97	VEMAX	Vanguard Emerging Markets	Pair Corr
0.97	VEIEX	Vanguard Emerging Markets	Pair Corr
0.97	VEMIX	Vanguard Emerging Markets	Pair Corr
0.97	VEMRX	Vanguard Emerging Markets	Pair Corr
0.86	FWWNX	American Funds New	Pair Corr
0.86	FNFWX	American Funds New	Pair Corr
0.86	NEWFX	New World Fund	Pair Corr
0.85	NWFFX	New World Fund	Pair Corr
0.84	NEWCX	New World Fund	Pair Corr
0.98	ODVYX	Oppenheimer Developing	Pair Corr
0.87	VTISX	Vanguard Total Inter	Pair Corr
0.87	VTSNX	Vanguard Total Inter	Pair Corr
0.87	VTPSX	Vanguard Total Inter	Pair Corr

Related Correlations Analysis

	CMCAX	CMCYX	EMBAX	EMBYX	EMBUX	EMRIX	EMRCX	EMRZX	EMRYX
CMCAX		1.0	0.56	0.56	0.56	0.49	0.47	0.49	0.49	CMCAX
CMCYX	1.0		0.56	0.57	0.56	0.49	0.47	0.5	0.5	CMCYX
EMBAX	0.56	0.56		1.0	1.0	0.75	0.73	0.75	0.75	EMBAX
EMBYX	0.56	0.57	1.0		1.0	0.76	0.73	0.76	0.76	EMBYX
EMBUX	0.56	0.56	1.0	1.0		0.75	0.73	0.75	0.75	EMBUX
EMRIX	0.49	0.49	0.75	0.76	0.75		1.0	1.0	1.0	EMRIX
EMRCX	0.47	0.47	0.73	0.73	0.73	1.0		1.0	1.0	EMRCX
EMRZX	0.49	0.5	0.75	0.76	0.75	1.0	1.0		1.0	EMRZX
EMRYX	0.49	0.5	0.75	0.76	0.75	1.0	1.0	1.0		EMRYX
	CMCAX	CMCYX	EMBAX	EMBYX	EMBUX	EMRIX	EMRCX	EMRZX	EMRYX

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Risk-Adjusted Indicators

There is a big difference between Emerging Mutual Fund performing well and Emerging Markets 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 Emerging Markets' 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
CMCAX	0.41	0.05	0.21	(8.27)	0.44	(0.41)	0.71	(0.88)	3.36
CMCYX	0.41	0.05	0.20	(9.00)	0.43	(0.42)	0.71	(0.88)	3.36
EMBAX	0.27	0.03	0.24	0.53	0.22	(0.35)	0.57	(0.56)	1.35
EMBYX	0.26	0.03	0.27	0.59	0.21	(0.32)	0.57	(0.39)	1.35
EMBUX	0.27	0.03	0.25	0.49	0.21	(0.34)	0.57	(0.39)	1.36
EMRIX	0.83	0.03	0.06	0.00	1.05	(0.87)	1.82	(1.60)	6.51
EMRCX	0.82	0.03	0.06	(0.01)	1.03	(0.88)	1.78	(1.58)	6.40
EMRZX	0.83	0.04	0.06	0.00	1.03	(0.90)	1.81	(1.60)	6.49
EMRYX	0.83	0.04	0.06	0.00	1.06	(0.84)	1.76	(1.61)	6.45

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Emerging Markets Correlations

Emerging Markets Correlation With Market

Very weak diversification

Moving together with Emerging Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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