Emerald Insights Correlations

EFCAX Fund  USD 23.48  0.02  0.09%   
The current 90-days correlation between Emerald Insights and Fidelity Sai Convertible is 0.1 (i.e., Average diversification). The correlation of Emerald Insights 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.

Emerald Insights Correlation With Market

Poor diversification

The correlation between Emerald Insights Fund and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Emerald Insights Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Emerald Insights 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 nation.

Moving together with Emerald Mutual Fund

  0.99FFGRX Emerald GrowthPairCorr
  1.0FGROX Emerald GrowthPairCorr
  1.0EFCCX Emerald InsightsPairCorr
  1.0EFCIX Emerald InsightsPairCorr
  0.99HSPGX Emerald GrowthPairCorr
  0.99HSPCX Emerald GrowthPairCorr
  0.77FAFGX American FundsPairCorr
  0.77FFAFX American FundsPairCorr
  0.7GFACX Growth FundPairCorr
  0.77GFAFX Growth FundPairCorr
  0.7AGTHX Growth FundPairCorr
  0.7CGFFX Growth FundPairCorr
  0.7CGFCX Growth FundPairCorr
  0.7CGFAX Growth FundPairCorr
  0.7CGFEX Growth FundPairCorr
  0.7RGAEX Growth FundPairCorr
  0.73HCMQX Hcm Dividend SectorPairCorr
  0.8RBCUX Tax Exempt BondPairCorr
  0.97EMRIX Emerging MarketsPairCorr
  0.67FSRFX Transportation Portfolio Potential GrowthPairCorr
  0.78MIOPX International OpportunityPairCorr
  0.95PRJIX T Rowe PricePairCorr
  0.99RYTAX Technology Fund ClassPairCorr
  0.77TRRFX T Rowe PricePairCorr
  0.99VFIAX Vanguard 500 IndexPairCorr
  0.76FMUUX Federated MunicipalPairCorr
  0.71FPTKX Fidelity Freedom 2015PairCorr
  0.76PGDRX Diversified Real AssetPairCorr
  0.97HNCAX Hartford InternationalPairCorr
  0.77QNTIX Quantex Fund InstituPairCorr
  0.72HBADX Hartford ModeratePairCorr
  0.78MYSIX Victory TrivalentPairCorr
  0.69RGLIX Allianzgi Global NaturalPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
XNCVXLCFYX
LCFYXARBOX
XNCVXARBOX
XNCVXPBXIX
PBXIXARBOX
PBXIXLCFYX
  
High negative correlations   
CCDFSAWX
LCFYXCCD
XNCVXCCD
ARBOXCCD

Risk-Adjusted Indicators

There is a big difference between Emerald Mutual Fund performing well and Emerald Insights 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 Emerald Insights' 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.