Parametric Emerging Correlations

Mutual Funds . USA . 
Fund . Parametric Emerging Markets
EIEMX Fund  USD 16.38  0.18  1.11%   
The current 90-days correlation between Parametric Emerging and Fidelity Advisor Health is 0.41 (i.e., Very weak 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 0.55 (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

  0.88EMAIX Eaton Vance MsschstsPairCorr
  0.98ERBIX Eaton Vance RichardPairCorr
  0.97ERBCX Eaton Vance RichardPairCorr
  0.96ERHIX Eaton Vance HighPairCorr
  0.98ERIFX Eaton Vance BalancedPairCorr
  0.96ERIBX Eaton Vance IncomePairCorr
  0.96ERISX Parametric Intl EquityPairCorr
  0.97ERLVX Eaton Vance LargePairCorr
  0.97EAAMX Eaton Vance MultiPairCorr
  0.89EAALX Eaton Vance AtlantaPairCorr
  0.97ERSTX Eaton Vance LargePairCorr
  0.89ERSMX Eaton Vance AtlantaPairCorr
  0.93ERSIX Eaton Vance ShortPairCorr
  0.87ERSGX Eaton Vance SmallPairCorr
  0.97EABLX Eaton Vance FloatingPairCorr
  0.89EAASX Eaton Vance AtlantaPairCorr
  0.96EACPX Eaton Vance TaxPairCorr
  0.93EABSX Eaton Vance TabsPairCorr
  0.98EADOX Eaton Vance EmergingPairCorr
  0.96EADIX Eaton Vance TaxPairCorr
  0.99EAEMX Parametric EmergingPairCorr
  0.97EAEAX Eaton Vance TaxPairCorr
  0.96EAFVX Eaton Vance ValPairCorr
  0.97EAFHX Eaton Vance FloatingPairCorr
  0.97EAFAX Eaton Vance FloatingPairCorr
  0.97EAGMX Eaton Vance GlobalPairCorr
  0.95EAISX Parametric InternationalPairCorr
  0.84EALDX Eaton Vance ShortPairCorr
  0.97EALCX Eaton Vance GrowthPairCorr
  0.88EALTX Ev Tab LadPairCorr
  0.96ESBLX Eaton Vance FloatingPairCorr
  0.92EAPDX Parametric DividendPairCorr
  0.82EAPCX Parametric ModityPairCorr

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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