Emerging Markets Correlations

Mutual Funds . USA . 
Fund . Emerging Markets Bond
PAEMX Fund  USD 8.58  0.02  0.23%   
The current 90-days correlation between Emerging Markets Bond and Aqr Long Short Equity is -0.08 (i.e., Good 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

Significant diversification

The correlation between Emerging Markets Bond and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Emerging Markets Bond and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Emerging Markets Bond. 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 Emerging Mutual Fund

  0.63PFATX Pimco FundamentalPairCorr
  0.74PFIAX Pimco Floating IncomePairCorr
  0.68PFIIX Pimco Floating IncomePairCorr
  0.86PFMIX Municipal BondPairCorr
  0.77PFNCX Pimco Floating IncomePairCorr
  0.74PFNIX Pimco Low DurationPairCorr
  0.61PFOCX Pimco Foreign BondPairCorr
  0.61PFRCX Foreign BondPairCorr
  0.7PFRMX Pimco Inflation ResponsePairCorr
  0.74PFTPX Pimco Floating IncomePairCorr
  0.89PFSIX Pimco Emerging MarketsPairCorr
  0.62PFUUX Pimco Foreign BondPairCorr
  0.62PFUAX Foreign BondPairCorr
  0.62PFUIX Foreign BondPairCorr
  0.62PFUNX Pimco International BondPairCorr
  0.62PFUPX Pimco Foreign BondPairCorr
  0.88PGBIX Global Bond FundPairCorr

Related Correlations Analysis

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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   
PIEFX
+ 0.97
POEIX
EPASX
+ 0.93
POEIX
PIEFX
+ 0.9
EPASX
QNZIX
+ 0.79
QLENX
CDHIX
+ 0.51
EPASX
QNZIX
+ 0.4
POEIX
  
High negative correlations   
CDHIX
- 0.68
QLENX
CDHIX
- 0.27
QNZIX
EPASX
- 0.23
QLENX

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.

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