International Small Correlations

Mutual Funds . USA . 
Fund . International Small Cap
IRCSX Fund  USD 14.64  0.02  0.14%   
The current 90-days correlation between International Small Cap and Ab Global E is 0.65 (i.e., Poor diversification). The correlation of International Small 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.

International Small Correlation With Market

Very weak diversification

The correlation between International Small Cap and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding International Small Cap and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in International Small Cap. 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 state.

Moving together with International Mutual Fund

  0.95GCEAX Ab Global EPairCorr
  0.95GCECX Ab Global EPairCorr
  0.95GCEYX Ab Global EPairCorr
  0.99AMTAX Ab All MarketPairCorr
  0.98AMTZX Ab All MarketPairCorr
  0.98AMTYX Ab All MarketPairCorr
  0.98AMTOX Ab All MarketPairCorr
  0.84ANAZX Ab Global BondPairCorr
  0.84ANAYX Ab Global BondPairCorr
  0.81ANAGX Ab Global BondPairCorr
  0.84ANAIX Ab Global BondPairCorr
  0.83ANACX Ab Global BondPairCorr
  0.76ANBIX Ab Bond InflationPairCorr
  0.91ANIAX New York MunicipalPairCorr
  0.92ANIYX New York MunicipalPairCorr
  0.88ANMCX New York MunicipalPairCorr
  0.99STEYX International StrategicPairCorr
  0.99STEZX International StrategicPairCorr
  0.99STESX International StrategicPairCorr
  0.86STHAX Ab Sustainable ThematicPairCorr
  0.87STHYX Ab Sustainable ThematicPairCorr
  0.92SCAVX Ab Small CapPairCorr
  0.92SCCVX Ab Small CapPairCorr
  0.95SCRSX Small Cap CorePairCorr
  0.95SCRYX Small Cap CorePairCorr
  0.95SCRZX Small Cap CorePairCorr
  0.92SCYVX Ab Small CapPairCorr
  0.96APGZX Ab Large CapPairCorr
  0.96APGYX Ab Large CapPairCorr
  0.96APGAX Ab Large CapPairCorr
  0.96APGCX Ab Large CapPairCorr
  0.96SUTAX Ab Sustainable ThematicPairCorr
  0.96SUTCX Ab Sustainable ThematicPairCorr
  0.96SUTZX Ab Sustainable ThematicPairCorr
  0.97APWIX Ab Servative WealthPairCorr
  0.95CHCLX Ab Discovery GrowthPairCorr
  0.95CHCIX Ab Discovery GrowthPairCorr
  0.95CHCCX Ab Discovery GrowthPairCorr
  0.95CHCYX Ab Discovery GrowthPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between International Mutual Fund performing well and International Small 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 International Small'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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
GCEAX  0.59  0.10  0.09  0.26  0.47 
(0.63)
 1.64 
(1.29)
 4.74 
GCECX  0.59  0.10  0.09  0.25  0.51 
(0.65)
 1.63 
(1.33)
 4.77 
GCEYX  0.59  0.10  0.09  0.26  0.43 
(0.65)
 1.58 
(1.29)
 4.74 
AMTAX  0.36  0.10  0.01  0.56  0.00 
(0.44)
 1.19 
(0.71)
 2.17 
AMTZX  0.36  0.10  0.01  0.54  0.00 
(0.43)
 1.21 
(0.72)
 2.21 
AMTYX  0.36  0.10  0.01  0.56  0.00 
(0.45)
 1.09 
(0.71)
 2.25 
AMTOX  0.36  0.10  0.01  0.55  0.00 
(0.43)
 1.19 
(0.68)
 2.18 
ANAZX  0.17  0.01 (0.47) 0.27  0.05 
(0.24)
 0.44 
(0.29)
 0.88 
ANAYX  0.17  0.01 (0.49) 0.32  0.08 
(0.21)
 0.29 
(0.29)
 0.87 
ANAGX  0.16  0.00 (0.52) 0.20  0.08 
(0.20)
 0.29 
(0.29)
 0.73 

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