Qs International Correlations

LGIEX Fund

USD 18.79 0.01 0.05%

The current 90-days correlation between Qs International Equity and Franklin Federal Limited Term is 0.29 (i.e., Modest diversification). The correlation of Qs International 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.

Qs International Correlation With Market

Good diversification

The correlation between Qs International Equity and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Qs International Equity and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Qs International Equity. 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 income.

Moving together with LGIEX Mutual Fund

0.94	TEBIX	Franklin Mutual Beacon	Pair Corr
0.85	TEDMX	Templeton Developing	Pair Corr
0.83	TEDIX	Franklin Mutual Global	Pair Corr
0.83	TEDSX	Franklin Mutual Global	Pair Corr
0.83	TEDRX	Franklin Mutual Global	Pair Corr
0.84	TEFRX	Templeton Foreign	Pair Corr
0.89	TEFTX	Templeton Foreign	Pair Corr
0.94	TEGBX	Templeton Global Bond	Pair Corr
0.92	TEGRX	Templeton Growth	Pair Corr
0.89	TEMFX	Templeton Foreign	Pair Corr
0.71	TEMGX	Templeton Global Smaller	Pair Corr
0.92	TEMEX	Franklin Mutual Beacon	Pair Corr
0.71	TEMIX	Franklin Mutual European	Pair Corr
0.74	TEMWX	Templeton World	Pair Corr
0.72	TEMTX	Franklin Mutual Shares	Pair Corr
0.88	TEMQX	Mutual Quest	Pair Corr
0.74	FQCTX	Franklin Necticut Tax	Pair Corr
0.66	SAGYX	Clearbridge Aggressive	Pair Corr
0.79	FQCHX	Franklin Templeton Smacs	Pair Corr
0.64	FQEMX	Franklin Templeton Smacs	Pair Corr
0.87	TEQIX	Franklin Mutual Quest	Pair Corr
0.86	TEPLX	Templeton Growth	Pair Corr
0.72	TWDAX	Templeton World	Pair Corr
0.7	TESIX	Franklin Mutual Shares	Pair Corr
0.68	TESGX	Templeton Global Smaller	Pair Corr
0.69	TESRX	Franklin Mutual Shares	Pair Corr
0.85	LGGAX	Clearbridge International	Pair Corr
0.72	TEURX	Franklin Mutual European	Pair Corr
0.74	FQLAX	Franklin Louisiana Tax	Pair Corr
0.69	TEWTX	Templeton World	Pair Corr
0.65	SAPYX	Clearbridge Appreciation	Pair Corr
0.72	SASMX	Clearbridge Small Cap	Pair Corr
0.8	FQNCX	Franklin North Carolina	Pair Corr
0.75	FQMDX	Franklin Maryland Tax	Pair Corr
0.86	WAARX	Western Asset Total	Pair Corr

Moving against LGIEX Mutual Fund

0.31

WAADX

Western Asset Smash

Pair Corr

Related Correlations Analysis

	FTFZX	BXECX	ZEMIX	GAGPX	MWUIX	IGIEX	AOUNX
FTFZX		0.66	0.65	0.71	0.03	0.91	0.59	FTFZX
BXECX	0.66		0.59	0.57	0.67	0.6	0.54	BXECX
ZEMIX	0.65	0.59		0.91	0.08	0.72	0.68	ZEMIX
GAGPX	0.71	0.57	0.91		-0.03	0.82	0.47	GAGPX
MWUIX	0.03	0.67	0.08	-0.03		-0.07	0.18	MWUIX
IGIEX	0.91	0.6	0.72	0.82	-0.07		0.48	IGIEX
AOUNX	0.59	0.54	0.68	0.47	0.18	0.48		AOUNX
	FTFZX	BXECX	ZEMIX	GAGPX	MWUIX	IGIEX	AOUNX

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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

IGIEX	+ 0.91	FTFZX
GAGPX	+ 0.91	ZEMIX
IGIEX	+ 0.82	GAGPX
IGIEX	+ 0.72	ZEMIX
GAGPX	+ 0.71	FTFZX
AOUNX	+ 0.68	ZEMIX

High negative correlations

IGIEX	- 0.07	MWUIX
MWUIX	- 0.03	GAGPX

Risk-Adjusted Indicators

There is a big difference between LGIEX Mutual Fund performing well and Qs International 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 Qs International'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
FTFZX	0.07	0.00	0.02	0.64	0.04	(0.15)	0.20	(0.19)	0.58
BXECX	0.21	0.03	0.12	(0.68)	0.06	(0.30)	0.54	(0.40)	1.35
ZEMIX	0.66	0.10	0.10	(0.98)	0.71	(0.77)	1.61	(1.57)	4.37
GAGPX	0.57	0.06	0.07	(0.55)	0.80	(0.55)	1.43	(1.49)	3.42
MWUIX	0.07	0.02	0.00	1.44	0.00	0.00	0.24	(0.24)	0.98
IGIEX	0.27	0.02	0.07	0.29	0.26	(0.34)	0.73	(0.49)	1.47
AOUNX	0.05	0.01	0.00	(1.18)	0.00	0.00	0.10	(0.10)	0.51

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