Global Small Correlations

AGCVX Fund

USD 20.38 0.20 0.99%

The current 90-days correlation between Global Small Cap and Ashmore Emerging Markets is 0.43 (i.e., Very weak diversification). The correlation of Global Small 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.

Global Small Correlation With Market

Poor diversification

The correlation between Global Small Cap and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Small Cap and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Global Small Cap. 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 real.

Moving together with Global Mutual Fund

0.99	FSWFX	American Funds Smallcap	Pair Corr
0.99	FSFWX	American Funds Smallcap	Pair Corr
0.99	SCWCX	American Fds Smallcap	Pair Corr
0.99	SCWFX	Smallcap World	Pair Corr
0.99	SMCWX	Smallcap World	Pair Corr
0.99	CSPFX	Smallcap World	Pair Corr
0.99	CSPAX	Smallcap World	Pair Corr
0.99	CSPEX	Smallcap World	Pair Corr
0.99	RSLCX	Smallcap World	Pair Corr
0.99	RLLGX	Smallcap World	Pair Corr
0.89	PDI	Pimco Dynamic Income	Pair Corr
0.96	FTCAX	Templeton Strained Bond	Pair Corr
0.96	RIVKX	American Funds Inter	Pair Corr
0.97	FDEGX	Fidelity Growth Stra	Pair Corr
0.98	DQIYX	Dreyfus Equity Income	Pair Corr
0.94	PSHAX	Short Term Fund	Pair Corr
0.95	JPM	JPMorgan Chase	Pair Corr
0.64	CVX	Chevron Corp	Pair Corr
0.86	BA	Boeing Earnings Call This Week	Pair Corr
0.65	CAT	Caterpillar	Pair Corr

Moving against Global Mutual Fund

0.98	USPSX	Profunds Ultrashort Potential Growth	Pair Corr
0.97	USPIX	Profunds Ultrashort Potential Growth	Pair Corr
0.92	UIPIX	Ultrashort Mid Cap	Pair Corr
0.36	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	ELBIX	PBMXX	PRELX	FXRXX	SMGXX	FZDXX	PIMXX
ELBIX		0.39	0.99	0.37	0.39	0.39	0.37	ELBIX
PBMXX	0.39		0.44	0.73	1.0	1.0	0.73	PBMXX
PRELX	0.99	0.44		0.4	0.44	0.44	0.4	PRELX
FXRXX	0.37	0.73	0.4		0.73	0.73	1.0	FXRXX
SMGXX	0.39	1.0	0.44	0.73		1.0	0.73	SMGXX
FZDXX	0.39	1.0	0.44	0.73	1.0		0.73	FZDXX
PIMXX	0.37	0.73	0.4	1.0	0.73	0.73		PIMXX
	ELBIX	PBMXX	PRELX	FXRXX	SMGXX	FZDXX	PIMXX

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Risk-Adjusted Indicators

There is a big difference between Global Mutual Fund performing well and Global Small 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 Global Small'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ELBIX	0.23	0.08	(0.42)	3.63	(0.33)	0.59	(0.30)	1.32
PBMXX	0.03	0.00	0.00	0.62	0.00	0.00	0.00	1.01
PRELX	0.25	0.07	(0.38)	1.85	(0.38)	0.63	(0.41)	1.81
FXRXX	0.03	0.00	0.00	0.24	0.00	0.00	0.00	1.01
SMGXX	0.03	0.00	0.00	0.62	0.00	0.00	0.00	1.01
FZDXX	0.03	0.00	0.00	0.62	0.00	0.00	0.00	1.01
PIMXX	0.03	0.00	0.00	0.24	0.00	0.00	0.00	1.01

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