Emerging Markets Correlations

Mutual Funds . USA . 
Fund . Emerging Markets Bond
PAEMX Fund  USD 8.82  0.03  0.34%   
The current 90-days correlation between Emerging Markets Bond and Pimco Rae Worldwide is 0.22 (i.e., Modest 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

Average diversification

The correlation between Emerging Markets Bond and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Emerging Markets Bond 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 Emerging Markets Bond. 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 industry.

Moving together with Emerging Mutual Fund

  0.75PWLEX Pimco Rae WorldwidePairCorr
  0.68PWLBX Pimco Rae WorldwidePairCorr
  0.78PWLMX Pimco Rae WorldwidePairCorr
  0.79PWLIX Pimco Rae WorldwidePairCorr
  0.83PFBPX Pimco Foreign BondPairCorr
  0.99PFCJX Pimco Preferred AndPairCorr
  0.99PFANX Pimco Capital SecPairCorr
  0.72PFGAX Long Term GovernmentPairCorr
  0.72PFGCX Long Term GovernmentPairCorr
  0.98PFIAX Pimco Floating IncomePairCorr
  0.96PFIIX Pimco Floating IncomePairCorr
  0.97PFIUX Pimco Unconstrained BondPairCorr
  0.99PFINX Pimco Capital SecPairCorr
  0.66PFMIX Municipal BondPairCorr
  0.98PFNCX Pimco Floating IncomePairCorr
  0.86PFONX Pimco International BondPairCorr
  0.83PFORX Pimco Foreign BondPairCorr
  0.99PFNNX Pimco Preferred AndPairCorr
  0.98PFNIX Pimco Low DurationPairCorr
  0.95PFNUX Pimco Dynamic BondPairCorr
  0.89PFOAX Pimco Foreign BondPairCorr
  0.8PFOCX Pimco Foreign BondPairCorr
  0.86PFRAX Pimco Foreign BondPairCorr
  0.89PFRMX Pimco Inflation ResponsePairCorr
  0.98PFPNX Pimco Capital SecPairCorr
  0.93PFTCX Short Term FundPairCorr
  0.98PFTPX Pimco Floating IncomePairCorr
  0.79PFRRX Pimco Foreign BondPairCorr
  0.96PFSIX Pimco Emerging MarketsPairCorr
  0.95PGAPX Pimco Global MultiPairCorr
  0.87PXTIX Fundamental IndexplusPairCorr
  0.87PXTNX Pimco Rae PlusPairCorr
  0.97PGBIX Global Bond FundPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
PWLEX  0.31  0.03 (0.13)(1.56) 0.34 
(0.35)
 0.92 
(0.67)
 2.01 
PWLBX  0.42  0.06 (0.08)(0.14) 0.63 
(0.47)
 0.92 
(0.90)
 6.33 
PWLMX  0.32  0.04 (0.13)(1.74) 0.31 
(0.39)
 0.91 
(0.66)
 2.26 
PWLIX  0.32  0.00 (0.15) 0.12  0.34 
(0.37)
 0.91 
(0.66)
 2.13 
PFBPX  0.13  0.00 (0.45) 0.11  0.04 
(0.17)
 0.31 
(0.30)
 0.81 
PFCJX  0.10  0.04 (0.42) 4.57  0.00 
(0.15)
 0.22 
(0.11)
 0.44 
PFATX  0.40  0.01 (0.12) 0.13  0.40 
(0.53)
 0.92 
(0.89)
 2.96 
PFANX  0.09  0.04 (0.38)(3.92) 0.00 
(0.15)
 0.22 
(0.11)
 0.43 
PFGAX  0.53  0.02 (0.12)(0.70) 0.58 
(0.60)
 1.18 
(0.96)
 2.89 
PFGCX  0.54  0.02 (0.12)(2.56) 0.58 
(0.60)
 1.18 
(0.96)
 2.90 

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