Emerging Economies Correlations

VCGEX Fund

USD 6.49 0.03 0.46%

The current 90-days correlation between Emerging Economies and Transamerica Large Cap is 0.37 (i.e., Weak diversification). The correlation of Emerging Economies 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 Economies Correlation With Market

Weak diversification

The correlation between Emerging Economies Fund and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Emerging Economies 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 Economies 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 income.

Moving together with Emerging Mutual Fund

0.74	VCBDX	Valic Company I	Pair Corr
0.73	VCGSX	Government Securities	Pair Corr
0.74	VCFVX	Foreign Value	Pair Corr
0.86	VCIEX	International Equities	Pair Corr
0.79	VCIFX	International Government	Pair Corr
0.68	VCINX	International Growth	Pair Corr
0.74	VCTPX	Inflation Protected	Pair Corr
0.88	VCSOX	Global Social Awareness	Pair Corr
0.63	VGCLX	Valic Company I	Pair Corr
0.92	VIOPX	Valic Company I	Pair Corr
0.98	VEMAX	Vanguard Emerging Markets	Pair Corr
0.98	VEIEX	Vanguard Emerging Markets	Pair Corr
0.98	VEMIX	Vanguard Emerging Markets	Pair Corr
0.98	VEMRX	Vanguard Emerging Markets	Pair Corr

Moving against Emerging Mutual Fund

0.52	VMIDX	Mid Cap Index	Pair Corr
0.51	VSSVX	Small Cap Special	Pair Corr
0.5	VCBCX	Blue Chip Growth	Pair Corr
0.48	VCSLX	Small Cap Index	Pair Corr
0.47	VVMCX	Valic Company I	Pair Corr
0.46	VCNIX	Nasdaq 100 Index	Pair Corr
0.44	VAPPX	Valic Company I	Pair Corr
0.43	VSRDX	Valic Company I	Pair Corr
0.43	VCULX	Growth Fund Growth	Pair Corr
0.36	VCAAX	Asset Allocation	Pair Corr
0.36	VCGAX	Growth Income	Pair Corr
0.49	VLCGX	Large Capital Growth	Pair Corr
0.46	VVSCX	Valic Company I	Pair Corr
0.39	VVSGX	Valic Company I	Pair Corr

Related Correlations Analysis

	TALCX	FMIQX	TACLX	ANVIX	PAFDX	CMIFX
TALCX		0.44	0.81	0.96	0.78	-0.02	TALCX
FMIQX	0.44		0.29	0.49	0.06	-0.29	FMIQX
TACLX	0.81	0.29		0.75	0.89	0.37	TACLX
ANVIX	0.96	0.49	0.75		0.67	-0.2	ANVIX
PAFDX	0.78	0.06	0.89	0.67		0.52	PAFDX
CMIFX	-0.02	-0.29	0.37	-0.2	0.52		CMIFX
	TALCX	FMIQX	TACLX	ANVIX	PAFDX	CMIFX

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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

ANVIX	+ 0.96	TALCX
PAFDX	+ 0.89	TACLX
TACLX	+ 0.81	TALCX
PAFDX	+ 0.78	TALCX
ANVIX	+ 0.75	TACLX
PAFDX	+ 0.67	ANVIX

High negative correlations

CMIFX	- 0.29	FMIQX
CMIFX	- 0.2	ANVIX
CMIFX	- 0.02	TALCX

Risk-Adjusted Indicators

There is a big difference between Emerging Mutual Fund performing well and Emerging Economies 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 Economies' 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
TALCX	0.67	(0.01)	0.00	(0.06)	0.00	0.00	1.36	(1.38)	3.68
FMIQX	0.87	(0.19)	0.00	(0.30)	0.00	0.00	1.20	(1.51)	10.22
TACLX	0.66	0.01	0.00	(0.02)	0.00	0.00	1.28	(1.48)	3.10
ANVIX	0.71	(0.04)	0.00	(0.10)	0.00	0.00	1.22	(1.63)	3.29
PAFDX	0.62	0.06	0.09	0.06	0.75	(0.67)	1.23	(1.15)	3.38
CMIFX	0.07	0.01	0.32	(0.62)	0.00	(0.12)	0.10	(0.10)	0.41

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