Emerging Markets Correlations

TEMUX Fund

USD 17.53 0.23 1.33%

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 Equity and DJI is 0.55 (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 Equity and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Emerging Markets Equity. 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 housing.

Moving together with Emerging Mutual Fund

0.88	DINDX	Global Fixed Income	Pair Corr
0.89	DINCX	Global Fixed Income	Pair Corr
0.82	DINAX	Global Fixed Income	Pair Corr
0.89	MLMAX	Global E Portfolio	Pair Corr
0.88	MLMCX	Global E Portfolio	Pair Corr
0.82	MLNSX	Global Centrated Por	Pair Corr
0.89	MLMIX	Global E Portfolio	Pair Corr
0.89	MLMSX	Global E Portfolio	Pair Corr
0.81	MLNCX	Global Centrated Por	Pair Corr
0.81	MLNAX	Global Centrated Por	Pair Corr
0.82	MLNIX	Global Centrated Por	Pair Corr
0.67	MMCGX	Mid Cap Growth	Pair Corr
1.0	MMKBX	Emerging Markets Por Steady Growth	Pair Corr
1.0	MMMPX	Msif Emerging Markets	Pair Corr
0.83	MNOPX	International Opportunity	Pair Corr
0.85	THYUX	High Yield Fund	Pair Corr
0.76	TIFUX	International Fixed	Pair Corr
0.91	TIEUX	International Equity	Pair Corr
0.88	TIIUX	Core Fixed Income	Pair Corr
0.82	TILUX	Inflation Linked Fixed	Pair Corr
0.76	MORGX	Morgan Stanley Mortgage	Pair Corr
0.82	MPAIX	Advantage Portfolio Class	Pair Corr
0.96	MPBAX	Global Strategist	Pair Corr
0.9	MPFDX	Corporate Bond Portfolio	Pair Corr
0.67	MPEGX	Mid Cap Growth	Pair Corr
1.0	MRGEX	Msif Emerging Markets	Pair Corr
0.85	MRHYX	Msift High Yield	Pair Corr
0.83	MRNPX	Msif International	Pair Corr
0.82	MADSX	Msif Advantage Port	Pair Corr
0.73	MACGX	Mid Cap Growth	Pair Corr
0.97	MAIJX	Morgan Stanley Insti	Pair Corr
0.97	MAIHX	Morgan Stanley Insti	Pair Corr
0.89	MSBOX	Corporate Bond Portfolio	Pair Corr
0.97	MSAAX	Active International	Pair Corr
0.97	MSACX	Active International	Pair Corr
0.9	MSAQX	Asia Opportunity Por	Pair Corr

Moving against Emerging Mutual Fund

0.86	MSFLX	Global Franchise Por	Pair Corr
0.86	MSGFX	Global Franchise Por	Pair Corr
0.81	MSBWX	Morgan Stanley Insti	Pair Corr

Related Correlations Analysis

	IVMXX	MODXX	MPIXX	HUCXX	FZDXX	QCMMIX	JRSXX
IVMXX		0.0	0.0	0.0	0.0	0.0	0.0	IVMXX
MODXX	0.0		0.0	0.0	0.0	0.0	0.0	MODXX
MPIXX	0.0	0.0		0.0	0.0	0.0	0.0	MPIXX
HUCXX	0.0	0.0	0.0		0.0	0.0	0.0	HUCXX
FZDXX	0.0	0.0	0.0	0.0		0.0	0.0	FZDXX
QCMMIX	0.0	0.0	0.0	0.0	0.0		0.0	QCMMIX
JRSXX	0.0	0.0	0.0	0.0	0.0	0.0		JRSXX
	IVMXX	MODXX	MPIXX	HUCXX	FZDXX	QCMMIX	JRSXX

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MODXX	+ 0.0	IVMXX
MPIXX	+ 0.0	IVMXX
HUCXX	+ 0.0	IVMXX
FZDXX	+ 0.0	IVMXX
QCMMIX	+ 0.0	IVMXX
JRSXX	+ 0.0	IVMXX

High negative correlations

JRSXX	- 0.0	QCMMIX
JRSXX	- 0.0	FZDXX
QCMMIX	- 0.0	FZDXX
JRSXX	- 0.0	HUCXX
QCMMIX	- 0.0	HUCXX
FZDXX	- 0.0	HUCXX

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	Treynor Ratio	Potential Upside	Maximum Drawdown
IVMXX	0.00	0.00	0.00	0.00	0.00
MODXX	0.00	0.00	0.00	0.00	0.00
MPIXX	0.00	0.00	0.00	0.00	0.00
HUCXX	0.00	0.00	0.00	0.00	0.00
FZDXX	0.00	0.00	0.00	0.00	0.00
QCMMIX	0.02	0.01	1.32	0.03	0.07
JRSXX	0.00	0.00	0.00	0.00	0.00

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