International Equity Correlations

Mutual Funds . USA . 
Fund . International Equity Portfolio
SIEPX Fund  USD 12.70  0.04  0.32%   
The current 90-days correlation between International Equity and Sa Real Estate is -0.07 (i.e., Good diversification). The correlation of International Equity 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.

International Equity Correlation With Market

Very weak diversification

The correlation between International Equity Portfolio and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding International Equity Portfolio and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in International Equity Portfolio. 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 american community survey.

Moving together with International Mutual Fund

  0.9SIBPX Investment Quality BondPairCorr
  1.0SIEYX International EquityPairCorr
  0.98SIECX International EquityPairCorr

Moving against International Mutual Fund

  0.79SSCPX Small CapitalizationPairCorr
  0.79SSCYX Small CapitalizationPairCorr
  0.78SSCCX Small CapitalizationPairCorr
  0.62STPAX Technology CommunicationsPairCorr
  0.62STPCX Technology CommunicationsPairCorr
  0.6STPIX Technology CommunicationsPairCorr
  0.49SABCX Salient Alternative BetaPairCorr
  0.48SAMCX Salient Mlp FundPairCorr
  0.48SBCCX Moderately ConservativePairCorr
  0.48SBMCX Moderate BalancedPairCorr
  0.47SABAX Salient Alternative BetaPairCorr
  0.46SABIX Aggressive BalancedPairCorr
  0.45SAMAX Moderately AggressivePairCorr
  0.45SBMIX Moderate BalancedPairCorr
  0.44SAMIX Moderately AggressivePairCorr
  0.34SUMCX Conservative BalancedPairCorr
  0.31SCAAX Conservative BalancedPairCorr
  0.67SPMCX Mid CapitalizationPairCorr
  0.66SMIPX Mid CapitalizationPairCorr
  0.66SPMAX Mid CapitalizationPairCorr
  0.6SLGCX Large CapitalizationPairCorr
  0.6SLGYX Large CapitalizationPairCorr
  0.59SLCGX Large CapitalizationPairCorr
  0.45SMPAX Moderate BalancedPairCorr
  0.44SMACX Moderately ConservativePairCorr
  0.44SMICX Moderately ServativePairCorr
  0.33SLVCX Large Cap ValuePairCorr
  0.32SLVYX Large Cap ValuePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between International Mutual Fund performing well and International Equity 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 International Equity'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.

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