Emerging Markets Correlations

Mutual Funds . USA . 
Fund . Emerging Markets Fund
UIEMX Fund  USD 21.05  0.14  0.67%   
The current 90-days correlation between Emerging Markets and Great West Goldman Sachs is -0.09 (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

Weak diversification

The correlation between Emerging Markets Fund and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Emerging Markets Fund 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 Emerging Markets Fund. 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

  0.67UIPMX Precious Metals AndPairCorr
  0.82VEMAX Vanguard Emerging MarketsPairCorr
  0.89VEIEX Vanguard Emerging MarketsPairCorr
  0.89VEMIX Vanguard Emerging MarketsPairCorr
  0.89VEMRX Vanguard Emerging MarketsPairCorr
  0.92FWWNX American Funds NewPairCorr
  0.92FNFWX American Funds NewPairCorr
  0.97NEWFX New World FundPairCorr
  0.97NWFFX New World FundPairCorr
  0.98NEWCX New World FundPairCorr
  0.99ODVYX Oppenheimer DevelopingPairCorr

Moving against Emerging Mutual Fund

  0.42KINCX Kinetics InternetPairCorr
  0.38KMKCX Kinetics Market OppoPairCorr
  0.37KNPAX Kinetics ParadigmPairCorr
  0.37KNPCX Kinetics ParadigmPairCorr
  0.37KNPYX Kinetics ParadigmPairCorr
  0.37WWNPX Kinetics ParadigmPairCorr
  0.35LSHUX Horizon Spin Off Potential GrowthPairCorr
  0.33KSCOX Kinetics Small CapPairCorr

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   
EPGFX
+ 0.98
IOGYX
SGDLX
+ 0.94
IOGYX
EPGFX
+ 0.93
SGDLX
GCEBX
+ 0.21
EPGFX
GCEBX
+ 0.2
IOGYX
GCEBX
+ 0.18
SGDLX
  
High negative correlations   
GCEBX
- 0.73
MXKJX
EPGFX
- 0.05
MXKJX
SGDLX
- 0.0
MXKJX

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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