Virtus Emerging Correlations

HIEMX Fund

USD 7.47 0.03 0.40%

The current 90-days correlation between Virtus Emerging Markets and Metropolitan West Total is 0.16 (i.e., Average diversification). The correlation of Virtus 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.

Virtus Emerging Correlation With Market

Significant diversification

The correlation between Virtus Emerging Markets and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Virtus Emerging Markets and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Virtus 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 population.

Moving together with Virtus Mutual Fund

0.77	VMSAX	Vanguard Multi Sector	Pair Corr
0.63	VMSSX	Virtus Multi Sector	Pair Corr
0.78	SAMFX	Ridgeworth Seix Total	Pair Corr
0.78	SAMZX	Ridgeworth Seix Total	Pair Corr
0.67	PXIIX	Virtus Rampart Enhanced	Pair Corr
0.77	SAVAX	Virtus Bond Fund	Pair Corr
0.78	SAVCX	Virtus Bond Fund	Pair Corr
0.77	SAVYX	Virtus Bond Fund	Pair Corr
0.66	PGICX	Virtus Rampart Enhanced	Pair Corr
0.75	PGIUX	Virtus Global Infras	Pair Corr
0.63	HIBIX	Virtus Low Duration	Pair Corr
0.75	PGUAX	Virtus Global Infras	Pair Corr
0.75	PGUCX	Virtus Global Infras	Pair Corr
0.77	STGIX	Ridgeworth Seix E	Pair Corr
0.78	STGZX	Ridgeworth Seix E	Pair Corr
0.76	STIGX	Ridgeworth Seix E	Pair Corr
0.65	HIMZX	Virtus Low Duration	Pair Corr
0.64	STTBX	Ridgeworth Seix Inve	Pair Corr

Moving against Virtus Mutual Fund

0.46	SAGAX	Ridgeworth Innovative Steady Growth	Pair Corr
0.38	STCZX	Ridgeworth Silvant Large	Pair Corr
0.32	PXSGX	Virtus Kar Small	Pair Corr
0.46	SCATX	Ridgeworth Innovative Steady Growth	Pair Corr
0.44	PHSKX	Virtus Kar Mid	Pair Corr
0.38	STCAX	Ridgeworth Silvant Large	Pair Corr
0.38	STCIX	Ridgeworth Silvant Large	Pair Corr

Related Correlations Analysis

	MWTIX	JFLEX	EIBIX	MEDIX	DDVIX
MWTIX		1.0	0.81	0.96	0.23	MWTIX
JFLEX	1.0		0.79	0.96	0.24	JFLEX
EIBIX	0.81	0.79		0.89	0.52	EIBIX
MEDIX	0.96	0.96	0.89		0.31	MEDIX
DDVIX	0.23	0.24	0.52	0.31		DDVIX
	MWTIX	JFLEX	EIBIX	MEDIX	DDVIX

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Risk-Adjusted Indicators

There is a big difference between Virtus Mutual Fund performing well and Virtus 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 Virtus 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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MWTIX	0.28	0.02	0.14	0.62	0.27	(0.32)	0.67	(0.55)	1.59
JFLEX	0.25	0.01	0.13	0.32	0.25	(0.29)	0.54	(0.54)	1.44
EIBIX	0.17	0.01	0.15	0.02	0.14	(0.26)	0.39	(0.39)	1.17
MEDIX	0.19	0.01	0.16	0.22	0.18	(0.25)	0.50	(0.33)	1.10
DDVIX	0.65	(0.02)	0.00	(0.07)	0.00	0.00	1.16	(1.47)	2.97

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