Global Equity Correlations

Mutual Funds . USA . 
Fund . Global Equity Fund
RLGYX Fund  USD 10.92  0.03  0.27%   
The current 90-days correlation between Global Equity and International Developed Markets is -0.11 (i.e., Good diversification). The correlation of Global Equity 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.

Global Equity Correlation With Market

Almost no diversification

The correlation between Global Equity Fund and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Equity Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Global Equity 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 manufacturing.

Moving together with Global Mutual Fund

  0.97RNTTX International DevelopedPairCorr
  0.88RREAX Global Real EstatePairCorr
  0.88RREYX Global Real EstatePairCorr
  0.88RRESX Global Real EstatePairCorr
  0.88RRSCX Global Real EstatePairCorr
  0.88RRSRX Global Real EstatePairCorr
  0.99RALAX Growth StrategyPairCorr
  0.99RALCX Growth StrategyPairCorr
  0.99RALSX Growth StrategyPairCorr
  0.99RALRX Growth StrategyPairCorr
  0.99RALVX Growth StrategyPairCorr
  0.65RSBRX Strategic BondPairCorr
  0.88RSBTX Short Duration BondPairCorr
  0.87RSBYX Short Duration BondPairCorr
  0.98RSCRX Us Small CapPairCorr
  0.84RSBCX Short Duration BondPairCorr
  0.98RSECX Us Strategic EquityPairCorr
  0.98RSEAX Us Strategic EquityPairCorr
  0.99RSESX Us Strategic EquityPairCorr
  0.87RSDTX Short Duration BondPairCorr
  0.98RAZAX Multi Asset GrowthPairCorr
  0.99RAZCX Multi Asset GrowthPairCorr
  0.98RSQAX Us E EquityPairCorr
  0.89RBCUX Tax Exempt BondPairCorr
  0.65RSYTX Strategic BondPairCorr
  0.98RBLCX Balanced StrategyPairCorr
  0.98RBLAX Balanced StrategyPairCorr
  0.98RBLSX Balanced StrategyPairCorr
  1.0RBLVX Balanced StrategyPairCorr
  1.0RBLRX Balanced StrategyPairCorr
  0.98RTDAX Multifactor EquityPairCorr
  0.97RTDCX Multifactor EquityPairCorr
  0.98RTDYX Select EquityPairCorr
  0.98RTDSX Select EquityPairCorr
  0.98RTDRX Select EquityPairCorr
  0.98RTDTX Select EquityPairCorr
  0.89RTEAX Tax Exempt BondPairCorr
  0.87RTECX Tax Exempt BondPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Global Mutual Fund performing well and Global Equity 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 Global Equity'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
RNTTX  0.52  0.22  0.12 (3.29) 0.27 
(0.63)
 1.40 
(0.95)
 3.12 
RREAX  0.55  0.14 (0.01)(1.30) 0.56 
(0.57)
 1.44 
(1.15)
 3.71 
RREYX  0.54  0.14 (0.01)(1.38) 0.56 
(0.56)
 1.42 
(1.17)
 3.69 
RRESX  0.55  0.14 (0.01)(1.30) 0.58 
(0.56)
 1.46 
(1.14)
 3.68 
RRSCX  0.54  0.13 (0.01)(1.27) 0.57 
(0.55)
 1.45 
(1.14)
 3.70 
RRSRX  0.54  0.14 (0.01)(1.30) 0.54 
(0.59)
 1.46 
(1.14)
 3.72 
RALAX  0.47  0.20  0.08 (2.58) 0.32 
(0.54)
 1.43 
(1.07)
 3.42 
RALCX  0.46  0.20  0.07 (2.55) 0.32 
(0.52)
 1.46 
(1.08)
 3.46 
RALSX  0.47  0.20  0.08 (2.45) 0.34 
(0.52)
 1.46 
(1.12)
 3.31 
RALRX  0.47  0.20  0.08 (2.61) 0.33 
(0.52)
 1.46 
(1.12)
 3.30 

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