Emerging Markets Correlations

Mutual Funds . USA . 
Fund . Emerging Markets Growth
EMGEX Fund  USD 7.95  0.02  0.25%   
The current 90-days correlation between Emerging Markets Growth and Gabelli Global Financial is 0.58 (i.e., Very weak diversification). The correlation of Emerging Markets 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.

Emerging Markets Correlation With Market

Very weak diversification

The correlation between Emerging Markets Growth and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Emerging Markets Growth 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 Emerging Markets Growth. 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 income.

Moving together with Emerging Mutual Fund

  0.98CUSEX Capital Group EquityPairCorr
  1.0EMRGX Emerging Markets GrowthPairCorr
  1.0REFGX Emerging Markets GrowthPairCorr
  0.95CCCMX Capital Group CaliforniaPairCorr
  0.94CCSTX Capital Group CaliforniaPairCorr
  0.66VEMAX Vanguard Emerging MarketsPairCorr
  0.66VEIEX Vanguard Emerging MarketsPairCorr
  0.66VEMIX Vanguard Emerging MarketsPairCorr
  0.66VEMRX Vanguard Emerging MarketsPairCorr
  0.71FWWNX American Funds NewPairCorr
  0.71FNFWX American Funds NewPairCorr
  0.71NEWFX New World FundPairCorr
  0.71NWFFX New World FundPairCorr
  0.71NEWCX New World FundPairCorr
  0.69ODVYX Oppenheimer DevelopingPairCorr
  0.63PDI Pimco Dynamic IncomePairCorr
  0.62FTCAX Templeton Strained BondPairCorr
  0.88VLMIX Value Line MidPairCorr
  0.97JSLCX Multimanager LifestylePairCorr
  0.98MXIPX Great West ServativePairCorr
  0.99ONMIX Oppenheimer ModeratePairCorr
  0.97XFFCX FlahertycrumrineclaymrPairCorr
  0.97WFGGX Wcm Focused GlobalPairCorr
  0.73GVMXX State Street MasterPairCorr
  0.9SFREX Schwab Fundamental GlobalPairCorr
  0.99GPIRX Goldman Sachs GrowthPairCorr
  0.95WAYAX Western Asset HighPairCorr
  0.91ASIQX Strategic IncomePairCorr

Moving against Emerging Mutual Fund

  0.71USPSX Profunds UltrashortPairCorr
  0.71USPIX Profunds UltrashortPairCorr
  0.69UIPIX Ultrashort Mid CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Emerging Mutual Fund performing well and Emerging Markets 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 Emerging Markets' 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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