Qs Global Correlations
| SMYIX Fund | USD 24.06 0.02 0.08% |
The current 90-days correlation between Qs Global Equity and Eaton Vance Tax Managed is 0.9 (i.e., Almost no diversification). The correlation of Qs Global 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 Global Correlation With Market
Poor diversification
The correlation between Qs Global Equity and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Qs Global Equity and DJI in the same portfolio, assuming nothing else is changed.
SMYIX |
Moving together with SMYIX Mutual Fund
| 0.68 | TEGRX | Templeton Growth | PairCorr |
| 0.89 | TEMGX | Templeton Global Smaller | PairCorr |
| 0.77 | TEMWX | Templeton World | PairCorr |
| 0.69 | TEMTX | Franklin Mutual Shares | PairCorr |
| 0.68 | SAIFX | Clearbridge Large Cap | PairCorr |
| 0.92 | SAGYX | Clearbridge Aggressive | PairCorr |
| 0.67 | TEPLX | Templeton Growth | PairCorr |
| 0.77 | TWDAX | Templeton World | PairCorr |
| 0.68 | TESIX | Franklin Mutual Shares | PairCorr |
| 0.88 | TESGX | Templeton Global Smaller | PairCorr |
| 0.69 | TESRX | Franklin Mutual Shares | PairCorr |
| 0.61 | TEWTX | Templeton World | PairCorr |
| 0.95 | SAPYX | Clearbridge Appreciation | PairCorr |
| 0.91 | SASMX | Clearbridge Small Cap | PairCorr |
Related Correlations Analysis
| 0.57 | 0.84 | 0.66 | 0.59 | EIDIX | ||
| 0.57 | 0.27 | 0.95 | 0.8 | APHRX | ||
| 0.84 | 0.27 | 0.31 | 0.32 | SNGRX | ||
| 0.66 | 0.95 | 0.31 | 0.86 | DGLRX | ||
| 0.59 | 0.8 | 0.32 | 0.86 | DPWRX | ||
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Risk-Adjusted Indicators
There is a big difference between SMYIX Mutual Fund performing well and Qs Global 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 Global'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| EIDIX | 0.67 | 0.03 | 0.00 | (0.03) | 0.00 | 1.51 | 4.33 | |||
| APHRX | 0.85 | (0.03) | 0.00 | (0.12) | 0.00 | 1.65 | 5.52 | |||
| SNGRX | 0.77 | 0.07 | 0.07 | 0.03 | 1.24 | 1.50 | 4.13 | |||
| DGLRX | 0.65 | (0.05) | 0.00 | (0.15) | 0.00 | 1.31 | 3.90 | |||
| DPWRX | 0.91 | (0.17) | 0.00 | (0.29) | 0.00 | 1.48 | 10.43 |