Emerging Markets Correlations

Mutual Funds . USA . 
Fund . Emerging Markets Portfolio
MMKBX Fund  USD 23.50  0.11  0.47%   
The current 90-days correlation between Emerging Markets Por and Touchstone Premium Yield is 0.82 (i.e., Very poor 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

Very poor diversification

The correlation between Emerging Markets Portfolio and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Emerging Markets Portfolio and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Emerging Markets Portfolio. 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 bureau of labor statistics.

Moving together with Emerging Mutual Fund

  1.0TEMUX Emerging Markets EquityPairCorr
  0.83DINDX Global Fixed IncomePairCorr
  0.78DINCX Global Fixed IncomePairCorr
  0.84DINAX Global Fixed IncomePairCorr
  0.97MLMAX Global E PortfolioPairCorr
  0.97MLMCX Global E PortfolioPairCorr
  0.98MLNSX Global Centrated PorPairCorr
  0.98MLMIX Global E PortfolioPairCorr
  0.98MLMSX Global E PortfolioPairCorr
  0.92MLNCX Global Centrated PorPairCorr
  0.98MLNAX Global Centrated PorPairCorr
  0.98MLNIX Global Centrated PorPairCorr
  0.97MMCGX Mid Cap GrowthPairCorr
  1.0MMMPX Msif Emerging MarketsPairCorr
  0.99MNOPX International OpportunityPairCorr
  0.96THYUX High Yield FundPairCorr
  0.61TIFUX International FixedPairCorr
  0.98TIEUX International EquityPairCorr
  0.97MPAIX Advantage Portfolio ClassPairCorr
  0.98MPBAX Global StrategistPairCorr
  0.97MPEGX Mid Cap GrowthPairCorr
  1.0MRGEX Msif Emerging MarketsPairCorr
  0.63MRJCX Real Assets PortfolioPairCorr
  0.79MRJAX Real Assets PortfolioPairCorr
  0.78MRJIX Real Assets PortfolioPairCorr
  0.91MRHYX Msift High YieldPairCorr
  0.64MRJSX Real Assets PortfolioPairCorr
  0.99MRNPX Msif InternationalPairCorr
  0.91MAAQX Morgan Stanley InstiPairCorr
  0.91MAAUX Morgan Stanley InstiPairCorr
  0.91MAADX Morgan Stanley InstiPairCorr
  0.91MAAOX Morgan Stanley InstiPairCorr
  0.97MADSX Msif Advantage PortPairCorr
  0.97MACGX Mid Cap GrowthPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.

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