Emerging Markets Correlations

JEVCX Fund

USD 9.76 0.01 0.10%

The current 90-days correlation between Emerging Markets and The Gabelli Money is 0.14 (i.e., Average 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 Fund and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Emerging Markets Fund 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 Emerging Markets Fund. 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 main economic indicators.

Moving together with Emerging Mutual Fund

0.91	VEMAX	Vanguard Emerging Markets	Pair Corr
0.91	VEIEX	Vanguard Emerging Markets	Pair Corr
0.91	VEMIX	Vanguard Emerging Markets	Pair Corr
0.91	VEMRX	Vanguard Emerging Markets	Pair Corr
0.91	FWWNX	American Funds New	Pair Corr
0.91	FNFWX	American Funds New	Pair Corr
0.91	NEWFX	New World Fund	Pair Corr
0.91	NWFFX	New World Fund	Pair Corr
0.91	NEWCX	New World Fund	Pair Corr
0.9	ODVYX	Oppenheimer Developing	Pair Corr
0.66	CAT	Caterpillar	Pair Corr
0.67	DIS	Walt Disney	Pair Corr
0.65	CVX	Chevron Corp	Pair Corr
0.66	MSFT	Microsoft	Pair Corr
0.69	CSCO	Cisco Systems	Pair Corr

Moving against Emerging Mutual Fund

0.63	MCD	McDonalds	Pair Corr
0.53	KO	Coca Cola Earnings Call This Week	Pair Corr
0.44	PG	Procter Gamble	Pair Corr
0.32	VZ	Verizon Communications Earnings Call This Week	Pair Corr

Related Correlations Analysis

	GABXX	PBMXX	PCSXX	SMAAX	TIMTX	QCMMIX
GABXX		0.49	0.49	0.64	0.62	0.03	GABXX
PBMXX	0.49		1.0	0.66	0.63	0.53	PBMXX
PCSXX	0.49	1.0		0.66	0.63	0.53	PCSXX
SMAAX	0.64	0.66	0.66		0.87	0.57	SMAAX
TIMTX	0.62	0.63	0.63	0.87		0.27	TIMTX
QCMMIX	0.03	0.53	0.53	0.57	0.27		QCMMIX
	GABXX	PBMXX	PCSXX	SMAAX	TIMTX	QCMMIX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GABXX	0.03	0.00	0.00	0.27	0.00	0.00	0.00	0.00	1.01
PBMXX	0.03	0.00	0.00	0.19	0.00	0.00	0.00	0.00	1.01
PCSXX	0.03	0.00	0.00	0.19	0.00	0.00	0.00	0.00	1.01
SMAAX	0.17	0.03	(0.43)	(0.12)	0.31	(0.20)	0.30	(0.51)	2.16
TIMTX	0.22	0.02	0.00	0.10	0.00	0.00	0.29	(0.68)	3.04
QCMMIX	0.02	0.00	0.00	0.00	0.00	0.00	0.03	0.00	0.07

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