Parametric Emerging Correlations

Mutual Funds . USA . 
Fund . Parametric Emerging Markets
EIEMX Fund  USD 16.20  0.07  0.43%   
The current 90-days correlation between Parametric Emerging and Ab Global Risk is 0.61 (i.e., Poor diversification). The correlation of Parametric 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.

Parametric Emerging Correlation With Market

Very weak diversification

The correlation between Parametric Emerging Markets and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Parametric Emerging Markets 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 Parametric 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 population.

Moving together with Parametric Mutual Fund

  0.91EMAIX Eaton Vance MsschstsPairCorr
  0.9ERASX Eaton Vance AtlantaPairCorr
  0.98ERAMX Eaton Vance MultiPairCorr
  0.98ERBIX Eaton Vance RichardPairCorr
  0.97ERBCX Eaton Vance RichardPairCorr
  0.97ERBAX Eaton Vance RichardPairCorr
  1.0EREMX Eaton Vance ParametricPairCorr
  0.97ERHIX Eaton Vance HighPairCorr
  0.61ERGOX Eaton Vance GovernmentPairCorr
  0.98ERGMX Eaton Vance GlobalPairCorr
  0.98ERIFX Eaton Vance BalancedPairCorr
  0.97ERIBX Eaton Vance IncomePairCorr
  0.96ERISX Parametric Intl EquityPairCorr
  0.91ERLGX Eaton Vance AtlantaPairCorr
  0.97ERLVX Eaton Vance LargePairCorr
  0.98EAAMX Eaton Vance MultiPairCorr
  0.91EAALX Eaton Vance AtlantaPairCorr
  0.97ERSTX Eaton Vance LargePairCorr
  0.9ERSMX Eaton Vance AtlantaPairCorr
  0.93ERSIX Eaton Vance ShortPairCorr
  0.9ERSGX Eaton Vance SmallPairCorr
  0.98EABLX Eaton Vance FloatingPairCorr
  0.89EAASX Eaton Vance AtlantaPairCorr
  0.96EACPX Eaton Vance TaxPairCorr
  0.99EACOX Eaton Vance GlobalPairCorr
  0.94EABSX Eaton Vance TabsPairCorr
  0.99EADOX Eaton Vance EmergingPairCorr
  0.97EADIX Eaton Vance TaxPairCorr
  0.97EAERX Eaton Vance StockPairCorr
  0.99EAEMX Parametric EmergingPairCorr
  0.97EAEAX Eaton Vance TaxPairCorr
  0.96EAFVX Eaton Vance ValPairCorr
  0.98EAFHX Eaton Vance FloatingPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Parametric Mutual Fund performing well and Parametric 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 Parametric 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.

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