Emerging Markets Correlations

Mutual Funds . USA . 
Fund . Emerging Markets Growth
EMRGX Fund  USD 7.98  0.02  0.25%   
The current 90-days correlation between Emerging Markets Growth and Capital Group Equity is 0.05 (i.e., Significant 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

Good diversification

The correlation between Emerging Markets Growth and DJI is -0.04 (i.e., Good 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 price.

Moving together with Emerging Mutual Fund

  0.98CUSEX Capital Group EquityPairCorr
  1.0REFGX Emerging Markets GrowthPairCorr
  0.94CCSTX Capital Group CaliforniaPairCorr
  0.66VEIEX Vanguard Emerging MarketsPairCorr
  0.63FWWNX American Funds NewPairCorr
  0.63FNFWX American Funds NewPairCorr
  0.63NEWFX New World FundPairCorr
  0.72NWFFX New World FundPairCorr
  0.63NEWCX New World FundPairCorr
  0.69ODVYX Oppenheimer DevelopingPairCorr
  0.94PDI Pimco Dynamic IncomePairCorr
  0.87VLMIX Value Line MidPairCorr
  0.68JSLCX Multimanager LifestylePairCorr
  0.97MXIPX Great West ServativePairCorr
  0.72ONMIX Oppenheimer ModeratePairCorr
  0.7JBYSX Jpmorgan SmartretirementPairCorr
  0.97WFGGX Wcm Focused GlobalPairCorr
  0.86SMAPX Salient Mlp EnergyPairCorr
  0.76GVMXX State Street MasterPairCorr
  0.91SFREX Schwab Fundamental GlobalPairCorr
  0.96WAYAX Western Asset HighPairCorr
  0.91ASIQX Strategic IncomePairCorr
  0.96BKDEX Blackrock DefensivePairCorr
  0.61GVEYX Value Equity InstituPairCorr
  0.67TGIWX Tiaa Cref GrowthPairCorr
  0.98VFINX Vanguard 500 IndexPairCorr

Moving against Emerging Mutual Fund

  0.97USPSX Profunds UltrashortPairCorr
  0.97USPIX Profunds UltrashortPairCorr
  0.96UIPIX 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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