Virtus Emerging Correlations

VIESX Fund

USD 16.80 0.16 0.94%

The current 90-days correlation between Virtus Emerging Markets and Aberdeen Small Cap is 0.45 (i.e., Very weak diversification). The correlation of Virtus Emerging 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.

Virtus Emerging Correlation With Market

Very weak diversification

The correlation between Virtus Emerging Markets and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Virtus Emerging Markets 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 Virtus Emerging Markets. 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 Virtus Mutual Fund

0.64	PXQSX	Virtus Kar Small	Pair Corr
0.65	PXSGX	Virtus Kar Small	Pair Corr

Moving against Virtus Mutual Fund

0.64	PGIUX	Virtus Global Infras	Pair Corr
0.51	SSAGX	Virtus Seix Government	Pair Corr
0.47	SAMVX	Ridgeworth Ceredex Mid	Pair Corr
0.42	VMSSX	Virtus Multi Sector	Pair Corr
0.39	PXCZX	Virtus Tax Exempt	Pair Corr
0.39	HIBIX	Virtus Low Duration	Pair Corr
0.36	SAMZX	Ridgeworth Seix Total	Pair Corr
0.36	SAVYX	Virtus Bond Fund	Pair Corr
0.35	SAGAX	Ridgeworth Innovative	Pair Corr
0.35	SAMFX	Ridgeworth Seix Total	Pair Corr
0.33	SAVAX	Virtus Bond Fund	Pair Corr
0.33	STCZX	Ridgeworth Silvant Large	Pair Corr
0.33	STCAX	Ridgeworth Silvant Large	Pair Corr
0.32	SAVCX	Virtus Bond Fund	Pair Corr
0.66	PGUAX	Virtus Global Infras	Pair Corr
0.63	PGUCX	Virtus Global Infras	Pair Corr
0.41	HIMZX	Virtus Low Duration	Pair Corr
0.41	SCFTX	Ridgeworth Seix High	Pair Corr
0.4	STCIX	Ridgeworth Silvant Large	Pair Corr
0.4	STTBX	Ridgeworth Seix Inve	Pair Corr
0.39	WCFRX	Virtus Westchester Credit	Pair Corr
0.37	STIGX	Ridgeworth Seix E	Pair Corr
0.32	STVZX	Ridgeworth Ceredex Large	Pair Corr

Related Correlations Analysis

	GSXIX	NOLCX	EDD	WAMVX	ASG	WWWFX	LSSCX	GBFAX	MSGGX
GSXIX		0.01	0.18	0.6	0.73	0.16	0.81	-0.18	0.69	GSXIX
NOLCX	0.01		0.56	0.58	0.24	0.02	-0.33	0.94	0.48	NOLCX
EDD	0.18	0.56		0.65	0.38	0.08	-0.03	0.54	0.48	EDD
WAMVX	0.6	0.58	0.65		0.71	0.24	0.39	0.44	0.88	WAMVX
ASG	0.73	0.24	0.38	0.71		0.32	0.6	0.07	0.81	ASG
WWWFX	0.16	0.02	0.08	0.24	0.32		0.18	-0.05	0.17	WWWFX
LSSCX	0.81	-0.33	-0.03	0.39	0.6	0.18		-0.51	0.47	LSSCX
GBFAX	-0.18	0.94	0.54	0.44	0.07	-0.05	-0.51		0.34	GBFAX
MSGGX	0.69	0.48	0.48	0.88	0.81	0.17	0.47	0.34		MSGGX
	GSXIX	NOLCX	EDD	WAMVX	ASG	WWWFX	LSSCX	GBFAX	MSGGX

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

GBFAX	+ 0.94	NOLCX
MSGGX	+ 0.88	WAMVX
LSSCX	+ 0.81	GSXIX
MSGGX	+ 0.81	ASG
ASG	+ 0.73	GSXIX
ASG	+ 0.71	WAMVX

High negative correlations

GBFAX	- 0.51	LSSCX
LSSCX	- 0.33	NOLCX
GBFAX	- 0.18	GSXIX
GBFAX	- 0.05	WWWFX
LSSCX	- 0.03	EDD

Risk-Adjusted Indicators

There is a big difference between Virtus Mutual Fund performing well and Virtus Emerging 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 Virtus Emerging'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GSXIX	0.80	(0.12)	0.00	(0.02)	0.00	0.00	1.65	(1.55)	5.61
NOLCX	0.50	0.00	(0.01)	0.08	0.69	(0.53)	1.28	(0.98)	4.26
EDD	0.67	0.01	(0.05)	0.11	0.60	(1.01)	2.03	(1.28)	3.95
WAMVX	0.84	(0.12)	0.00	(0.02)	0.00	0.00	1.80	(1.54)	6.33
ASG	0.71	(0.09)	0.00	(0.02)	0.00	0.00	1.45	(1.62)	4.39
WWWFX	1.43	(0.24)	0.00	(0.13)	0.00	0.00	2.42	(2.84)	6.90
LSSCX	0.72	(0.14)	0.00	(0.05)	0.00	0.00	1.45	(1.43)	6.25
GBFAX	0.67	0.15	0.07	(22.30)	0.81	(0.75)	1.61	(0.93)	4.88
MSGGX	0.86	(0.12)	0.00	(0.01)	0.00	0.00	1.85	(1.74)	6.16

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