Brandes Emerging Correlations

BEMCX Fund

USD 11.77 0.12 1.03%

The current 90-days correlation between Brandes Emerging Markets and Hennessy Bp Energy is 0.47 (i.e., Very weak diversification). The correlation of Brandes 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.

Brandes Emerging Correlation With Market

Poor diversification

The correlation between Brandes Emerging Markets and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brandes Emerging Markets and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Brandes 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 private.

Moving together with Brandes Mutual Fund

0.77	BSCRX	Brandes Small Cap	Pair Corr
0.76	BSCMX	Brandes Small Cap	Pair Corr
0.76	BSCAX	Brandes Small Cap	Pair Corr
0.77	BCPRX	Brandes E Plus	Pair Corr
0.77	BCPIX	Brandes E Plus	Pair Corr
0.77	BCPAX	Brandes E Plus	Pair Corr
1.0	BEMIX	Brandes Emerging Markets	Pair Corr
1.0	BEMAX	Brandes Emerging Markets	Pair Corr
1.0	BEMRX	Brandes Emerging Markets	Pair Corr
0.93	BGEAX	Brandes Global Equity	Pair Corr
0.93	BGVIX	Brandes Global Equity	Pair Corr
0.93	BGVCX	Brandes Global Equity	Pair Corr
0.9	BIERX	Brandes International	Pair Corr
0.88	BIECX	Brandes International	Pair Corr
0.89	BIEAX	Brandes International	Pair Corr
0.89	BIIEX	Brandes International	Pair Corr
0.82	SMARX	Brandes Separately	Pair Corr
0.85	VEMAX	Vanguard Emerging Markets	Pair Corr
0.85	VEIEX	Vanguard Emerging Markets	Pair Corr
0.85	VEMIX	Vanguard Emerging Markets	Pair Corr
0.86	VEMRX	Vanguard Emerging Markets	Pair Corr
0.93	FWWNX	American Funds New	Pair Corr
0.93	FNFWX	American Funds New	Pair Corr
0.93	NEWFX	New World Fund	Pair Corr
0.93	NWFFX	New World Fund	Pair Corr
0.92	NEWCX	New World Fund	Pair Corr
0.92	ODVYX	Oppenheimer Developing	Pair Corr

Moving against Brandes Mutual Fund

0.89	USPSX	Profunds Ultrashort	Pair Corr
0.89	USPIX	Profunds Ultrashort	Pair Corr
0.79	TCTGX	Transamerica Cleartrack	Pair Corr
0.79	TCTJX	Transamerica Cleartrack	Pair Corr
0.78	TDKTX	Cleartrack 2015 Class	Pair Corr
0.78	TCSUX	Cleartrack 2020 Class	Pair Corr
0.71	PDI	Pimco Dynamic Income	Pair Corr

Related Correlations Analysis

	HNRGX	IEFCX	IGNAX	ICBAX	CAEIX	BCX	XTYGX
HNRGX		0.9	0.56	0.16	0.52	0.53	0.36	HNRGX
IEFCX	0.9		0.23	-0.11	0.18	0.54	0.17	IEFCX
IGNAX	0.56	0.23		0.71	0.83	0.37	0.74	IGNAX
ICBAX	0.16	-0.11	0.71		0.75	0.16	0.55	ICBAX
CAEIX	0.52	0.18	0.83	0.75		0.14	0.5	CAEIX
BCX	0.53	0.54	0.37	0.16	0.14		0.54	BCX
XTYGX	0.36	0.17	0.74	0.55	0.5	0.54		XTYGX
	HNRGX	IEFCX	IGNAX	ICBAX	CAEIX	BCX	XTYGX

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

IEFCX	+ 0.9	HNRGX
CAEIX	+ 0.83	IGNAX
CAEIX	+ 0.75	ICBAX
XTYGX	+ 0.74	IGNAX
ICBAX	+ 0.71	IGNAX
IGNAX	+ 0.56	HNRGX

High negative correlations

ICBAX

- 0.11

IEFCX

Risk-Adjusted Indicators

There is a big difference between Brandes Mutual Fund performing well and Brandes 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 Brandes 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
HNRGX	0.88	0.06	0.03	0.17	1.15	(0.82)	1.72	(1.58)	5.60
IEFCX	0.80	0.02	(0.01)	0.12	1.05	(0.79)	1.52	(1.61)	4.52
IGNAX	0.78	0.12	0.08	0.21	1.09	(0.78)	1.62	(2.10)	5.41
ICBAX	1.08	0.00	0.01	0.06	1.21	(1.28)	2.23	(1.92)	6.25
CAEIX	0.73	0.02	0.02	0.08	0.95	(0.73)	1.42	(1.83)	4.38
BCX	0.65	0.03	0.01	0.12	0.70	(0.74)	1.60	(1.18)	3.98
XTYGX	0.73	0.01	(0.02)	0.07	0.86	(0.82)	1.60	(1.53)	4.51

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