Emerging Markets Correlations

PEBIX Fund

USD 8.48 0.03 0.36%

The current 90-days correlation between Emerging Markets Bond and Rbc Global Equity is 0.28 (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

Average diversification

The correlation between Emerging Markets Bond and DJI is 0.17 (i.e., Average 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 gross domestic product.

Moving together with Emerging Mutual Fund

0.76	PFBPX	Pimco Foreign Bond	Pair Corr
0.77	PFCJX	Pimco Preferred And	Pair Corr
0.83	PFANX	Pimco Capital Sec	Pair Corr
0.78	PFIAX	Pimco Floating Income	Pair Corr
0.77	PFIIX	Pimco Floating Income	Pair Corr
0.75	PFIUX	Pimco Unconstrained Bond	Pair Corr
0.85	PFINX	Pimco Capital Sec	Pair Corr
0.83	PFMIX	Municipal Bond	Pair Corr
0.8	PFNCX	Pimco Floating Income	Pair Corr
0.75	PFONX	Pimco International Bond	Pair Corr
0.75	PFORX	Pimco Foreign Bond	Pair Corr
0.83	PFNNX	Pimco Preferred And	Pair Corr
0.77	PFNIX	Pimco Low Duration	Pair Corr
0.75	PFNUX	Pimco Dynamic Bond	Pair Corr
0.77	PFOAX	Pimco Foreign Bond	Pair Corr
0.82	PFOCX	Pimco Foreign Bond	Pair Corr
0.81	PFRAX	Pimco Foreign Bond	Pair Corr
0.85	PFPNX	Pimco Capital Sec	Pair Corr
0.77	PFTPX	Pimco Floating Income	Pair Corr
0.76	PFRRX	Pimco Foreign Bond	Pair Corr
0.67	PFSIX	Pimco Emerging Markets	Pair Corr
0.87	PGAPX	Pimco Global Multi	Pair Corr
0.8	PGBIX	Global Bond Fund	Pair Corr

Related Correlations Analysis

	RGELX	ZGFIX	ANAZX	VGCAX	SDGIX	DHGCX	QGMIX
RGELX		0.7	0.72	0.77	0.69	0.71	-0.21	RGELX
ZGFIX	0.7		0.59	0.65	0.74	0.73	0.3	ZGFIX
ANAZX	0.72	0.59		0.88	0.92	0.88	-0.05	ANAZX
VGCAX	0.77	0.65	0.88		0.83	0.95	-0.14	VGCAX
SDGIX	0.69	0.74	0.92	0.83		0.93	0.23	SDGIX
DHGCX	0.71	0.73	0.88	0.95	0.93		0.11	DHGCX
QGMIX	-0.21	0.3	-0.05	-0.14	0.23	0.11		QGMIX
	RGELX	ZGFIX	ANAZX	VGCAX	SDGIX	DHGCX	QGMIX

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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

DHGCX	+ 0.95	VGCAX
DHGCX	+ 0.93	SDGIX
SDGIX	+ 0.92	ANAZX
VGCAX	+ 0.88	ANAZX
DHGCX	+ 0.88	ANAZX
SDGIX	+ 0.83	VGCAX

High negative correlations

QGMIX	- 0.21	RGELX
QGMIX	- 0.14	VGCAX
QGMIX	- 0.05	ANAZX

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
RGELX	0.56	(0.03)	0.00	0.96	0.00	0.00	1.03	(1.69)	4.33
ZGFIX	0.44	0.02	(0.01)	0.12	0.71	(0.44)	0.85	(0.92)	3.69
ANAZX	0.20	(0.02)	0.00	(0.45)	0.00	0.00	0.29	(0.44)	1.31
VGCAX	0.20	(0.02)	0.00	(0.25)	0.00	0.00	0.42	(0.42)	1.11
SDGIX	0.16	(0.01)	0.00	(0.30)	0.00	0.00	0.35	(0.30)	0.94
DHGCX	0.16	(0.02)	0.00	(0.31)	0.00	0.00	0.32	(0.36)	0.94
QGMIX	0.42	0.03	0.00	(0.49)	0.41	(0.52)	0.95	(0.84)	2.29

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