Ninety One Correlations

ZIFIX Fund

USD 11.10 0.04 0.36%

The current 90-days correlation between Ninety One International and Sprott Gold Equity is 0.5 (i.e., Very weak diversification). The correlation of Ninety One 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.

Ninety One Correlation With Market

Good diversification

The correlation between Ninety One International and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ninety One International 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 Ninety One International. 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 gross domestic product.

Moving together with Ninety Mutual Fund

0.78	ZEMIX	Investec Emerging Markets	Pair Corr
0.78	ZEMAX	Investec Emerging Markets	Pair Corr
0.9	ZGFIX	Investec Global Franchise	Pair Corr
0.9	ZGFAX	Investec Global Franchise	Pair Corr
0.88	RERFX	Europacific Growth	Pair Corr
0.88	AEPFX	Europacific Growth	Pair Corr
0.88	CEUAX	Europacific Growth	Pair Corr
0.87	CEUCX	Europacific Growth	Pair Corr
0.88	RERCX	Europacific Growth	Pair Corr
0.88	REREX	Europacific Growth	Pair Corr
0.88	RERGX	Europacific Growth	Pair Corr
0.88	CEUFX	Europacific Growth	Pair Corr
0.88	CEUEX	Europacific Growth	Pair Corr
0.87	RERAX	Europacific Growth	Pair Corr
0.79	PDI	Pimco Dynamic Income Sell-off Trend	Pair Corr
0.81	FTCAX	Templeton Strained Bond	Pair Corr
0.85	FHYCX	Federated High Yield	Pair Corr
0.77	EAMLX	Eaton Vance National	Pair Corr
0.69	DCLIX	Dws California Tax	Pair Corr
0.69	FLRRX	Franklin Low Duration	Pair Corr
0.75	ARMGX	Western Asset Adjustable	Pair Corr
0.84	WEDRX	William Blair Emerging	Pair Corr
0.83	JIGIX	John Hancock Interna	Pair Corr
0.74	LSIZX	Columbia Strategic Income	Pair Corr
0.81	GSCJX	Goldman Sachs Income	Pair Corr
0.72	JSNAX	Jhancock Short Duration	Pair Corr
0.79	ARCNX	Aqr Risk Balanced	Pair Corr
0.84	LSYQX	Lord Abbett Short	Pair Corr
0.77	ARZDX	Amg River Road	Pair Corr
0.65	FIKPX	Fidelity Government	Pair Corr

Moving against Ninety Mutual Fund

0.89	TCTGX	Transamerica Cleartrack	Pair Corr
0.89	TDKTX	Cleartrack 2015 Class	Pair Corr
0.89	TCTJX	Transamerica Cleartrack	Pair Corr
0.87	TCSUX	Cleartrack 2020 Class	Pair Corr
0.72	MBLCX	Madison Diversified	Pair Corr

Related Correlations Analysis

	SGDLX	IOGYX	USERX	AGYCX	OGMCX	MXKJX	FEGOX	VGSBX
SGDLX		1.0	1.0	0.97	0.97	-0.53	0.98	0.69	SGDLX
IOGYX	1.0		1.0	0.97	0.97	-0.53	0.98	0.69	IOGYX
USERX	1.0	1.0		0.97	0.97	-0.54	0.99	0.72	USERX
AGYCX	0.97	0.97	0.97		0.99	-0.56	0.98	0.74	AGYCX
OGMCX	0.97	0.97	0.97	0.99		-0.52	0.96	0.67	OGMCX
MXKJX	-0.53	-0.53	-0.54	-0.56	-0.52		-0.57	-0.5	MXKJX
FEGOX	0.98	0.98	0.99	0.98	0.96	-0.57		0.79	FEGOX
VGSBX	0.69	0.69	0.72	0.74	0.67	-0.5	0.79		VGSBX
	SGDLX	IOGYX	USERX	AGYCX	OGMCX	MXKJX	FEGOX	VGSBX

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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

IOGYX	+ 1.0	SGDLX
USERX	+ 1.0	SGDLX
USERX	+ 1.0	IOGYX
FEGOX	+ 0.99	USERX
OGMCX	+ 0.99	AGYCX
FEGOX	+ 0.98	SGDLX

High negative correlations

FEGOX	- 0.57	MXKJX
MXKJX	- 0.56	AGYCX
MXKJX	- 0.54	USERX
MXKJX	- 0.53	IOGYX
MXKJX	- 0.53	SGDLX
MXKJX	- 0.52	OGMCX

Risk-Adjusted Indicators

There is a big difference between Ninety Mutual Fund performing well and Ninety One 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 Ninety One'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
SGDLX	1.23	0.25	0.14	(2.33)	1.36	(1.33)	3.01	(2.88)	7.21
IOGYX	1.25	0.25	0.14	(1.28)	1.43	(1.39)	2.70	(3.12)	7.70
USERX	1.26	0.27	0.16	(1.86)	1.36	(1.43)	3.06	(2.98)	7.07
AGYCX	1.25	0.37	0.21	0.79	1.34	(1.41)	2.74	(2.65)	7.30
OGMCX	1.26	0.28	0.16	0.47	1.44	(1.39)	2.70	(3.16)	7.69
MXKJX	1.09	(0.07)	0.00	(0.09)	0.00	0.00	1.50	(1.97)	26.05
FEGOX	1.12	0.29	0.18	(1.50)	1.21	(1.20)	2.28	(2.26)	6.31
VGSBX	0.18	0.00	(0.01)	0.00	0.20	(0.24)	0.43	(0.32)	0.98

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