Investec Emerging Correlations

ZEMAX Fund

USD 11.73 0.01 0.09%

The current 90-days correlation between Investec Emerging Markets and Legg Mason Partners is 0.57 (i.e., Very weak diversification). The correlation of Investec Emerging 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.

Investec Emerging Correlation With Market

Weak diversification

The correlation between Investec Emerging Markets and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Investec Emerging Markets and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Investec Emerging Markets. 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 nation.

Moving together with Investec Mutual Fund

1.0	ZEMIX	Investec Emerging Markets	Pair Corr
0.8	ZGFIX	Investec Global Franchise	Pair Corr
0.81	ZGFAX	Investec Global Franchise	Pair Corr
0.78	ZIFIX	Ninety One International	Pair Corr
0.96	VEMAX	Vanguard Emerging Markets	Pair Corr
0.96	VEIEX	Vanguard Emerging Markets	Pair Corr
0.96	VEMIX	Vanguard Emerging Markets	Pair Corr
0.96	VEMRX	Vanguard Emerging Markets	Pair Corr
0.85	FWWNX	American Funds New	Pair Corr
0.85	FNFWX	American Funds New	Pair Corr
0.72	NEWFX	New World Fund	Pair Corr
0.85	NWFFX	New World Fund	Pair Corr
0.83	NEWCX	New World Fund	Pair Corr
0.96	ODVYX	Oppenheimer Developing	Pair Corr
0.63	FSMMX	Fs Multi Strategy	Pair Corr
0.92	BTMPX	Ishares Msci Eafe	Pair Corr
0.92	BTMKX	Blackrock International	Pair Corr
0.92	MDIIX	Blackrock Intern Index	Pair Corr
0.79	OPIGX	Oppenheimer Core Bond	Pair Corr
0.75	DLDFX	Destinations Low Duration	Pair Corr
0.77	USGDX	Morgan Stanley Government	Pair Corr
0.9	BISMX	Brandes International	Pair Corr
0.78	MFAAX	American Funds Mortgage	Pair Corr
0.8	VTAPX	Vanguard Short Term	Pair Corr
0.77	PYSBX	Payden Low Duration	Pair Corr
0.93	VWICX	Vanguard International	Pair Corr
0.83	GF	New Germany Closed	Pair Corr
0.8	PYCTX	Payden Rygel	Pair Corr
0.75	DABLX	Dreyfus Yield Enhancement	Pair Corr
0.64	EBSIX	Campbell Systematic Macro	Pair Corr
0.81	GSTPX	Goldman Sachs Inflation	Pair Corr
0.87	ARBOX	Absolute Convertible	Pair Corr

Moving against Investec Mutual Fund

0.4

MAPBX

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Pair Corr

Related Correlations Analysis

	QLMSTX	TISVX	SECAX	ANTMX	PMDDX	MSSGX
QLMSTX		-0.36	0.91	0.48	0.94	0.9	QLMSTX
TISVX	-0.36		-0.54	0.42	-0.41	-0.5	TISVX
SECAX	0.91	-0.54		0.33	0.92	0.93	SECAX
ANTMX	0.48	0.42	0.33		0.41	0.34	ANTMX
PMDDX	0.94	-0.41	0.92	0.41		0.84	PMDDX
MSSGX	0.9	-0.5	0.93	0.34	0.84		MSSGX
	QLMSTX	TISVX	SECAX	ANTMX	PMDDX	MSSGX

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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

PMDDX	+ 0.94	QLMSTX
MSSGX	+ 0.93	SECAX
PMDDX	+ 0.92	SECAX
SECAX	+ 0.91	QLMSTX
MSSGX	+ 0.9	QLMSTX
MSSGX	+ 0.84	PMDDX

High negative correlations

SECAX	- 0.54	TISVX
MSSGX	- 0.5	TISVX
PMDDX	- 0.41	TISVX
TISVX	- 0.36	QLMSTX

Risk-Adjusted Indicators

There is a big difference between Investec Mutual Fund performing well and Investec Emerging 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 Investec Emerging'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
QLMSTX	1.04	(0.12)	0.00	(0.10)	0.00	0.00	1.75	(2.77)	5.65
TISVX	0.79	0.10	0.06	0.14	1.23	(0.77)	1.99	(1.65)	9.81
SECAX	1.07	(0.25)	0.00	(0.22)	0.00	0.00	1.84	(2.57)	11.41
ANTMX	0.73	(0.01)	(0.01)	0.06	1.03	(0.75)	1.48	(1.52)	5.64
PMDDX	0.84	(0.09)	0.00	(0.09)	0.00	0.00	1.52	(1.78)	3.94
MSSGX	1.80	(0.18)	0.00	(0.11)	0.00	0.00	3.81	(3.91)	9.53

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