Emerging Markets Correlations

TEMUX Fund

USD 17.33 0.03 0.17%

The current 90-days correlation between Emerging Markets Equity and Global Fixed Income is -0.01 (i.e., Good 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 weak diversification

The correlation between Emerging Markets Equity and DJI is 0.54 (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

0.85	DINDX	Global Fixed Income	Pair Corr
0.93	DINCX	Global Fixed Income	Pair Corr
0.68	DINAX	Global Fixed Income	Pair Corr
0.73	MLMAX	Global E Portfolio	Pair Corr
0.71	MLMCX	Global E Portfolio	Pair Corr
0.73	MLMIX	Global E Portfolio	Pair Corr
0.73	MLMSX	Global E Portfolio	Pair Corr
1.0	MMKBX	Emerging Markets Por	Pair Corr
1.0	MMMPX	Msif Emerging Markets	Pair Corr
0.89	TIFUX	International Fixed	Pair Corr
0.88	TIEUX	International Equity	Pair Corr
0.9	TIIUX	Core Fixed Income	Pair Corr
0.76	TILUX	Inflation Linked Fixed	Pair Corr
0.97	MPBAX	Global Strategist	Pair Corr
0.8	MPFDX	Corporate Bond Portfolio	Pair Corr
1.0	MRGEX	Msif Emerging Markets	Pair Corr
0.73	MRHYX	Msift High Yield	Pair Corr
0.92	MAIJX	Morgan Stanley Insti	Pair Corr
0.92	MAIHX	Morgan Stanley Insti	Pair Corr
0.81	MSBOX	Corporate Bond Portfolio	Pair Corr
0.91	MSAAX	Active International	Pair Corr
0.92	MSACX	Active International	Pair Corr
0.72	MSALX	International Advantage	Pair Corr

Moving against Emerging Mutual Fund

0.87	MSBQX	Morgan Stanley Insti	Pair Corr
0.87	MSBWX	Morgan Stanley Insti	Pair Corr
0.87	MSBVX	Morgan Stanley Insti	Pair Corr
0.84	MSFLX	Global Franchise Por	Pair Corr
0.84	MSGFX	Global Franchise Por	Pair Corr

Related Correlations Analysis

	DINDX	DINCX	DINAX	MLMAX	MLMCX	MLNSX	MLMIX	MLMSX	MLNCX
DINDX		0.95	0.93	0.69	0.67	0.28	0.68	0.69	0.23	DINDX
DINCX	0.95		0.84	0.72	0.7	0.18	0.69	0.69	0.12	DINCX
DINAX	0.93	0.84		0.63	0.62	0.33	0.66	0.66	0.29	DINAX
MLMAX	0.69	0.72	0.63		1.0	0.62	0.88	0.88	0.58	MLMAX
MLMCX	0.67	0.7	0.62	1.0		0.64	0.88	0.88	0.6	MLMCX
MLNSX	0.28	0.18	0.33	0.62	0.64		0.79	0.79	1.0	MLNSX
MLMIX	0.68	0.69	0.66	0.88	0.88	0.79		1.0	0.75	MLMIX
MLMSX	0.69	0.69	0.66	0.88	0.88	0.79	1.0		0.75	MLMSX
MLNCX	0.23	0.12	0.29	0.58	0.6	1.0	0.75	0.75		MLNCX
	DINDX	DINCX	DINAX	MLMAX	MLMCX	MLNSX	MLMIX	MLMSX	MLNCX

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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DINDX	0.15	0.02	(0.06)	5.59	0.00	(0.23)	0.37	(0.19)	0.93
DINCX	0.14	0.02	(0.05)	(1.75)	0.00	(0.22)	0.19	(0.19)	0.95
DINAX	0.14	0.01	(0.09)	0.91	0.08	(0.23)	0.38	(0.19)	0.94
MLMAX	0.54	0.01	(0.02)	0.24	0.80	(0.55)	1.25	(1.15)	4.42
MLMCX	0.54	0.01	(0.02)	0.18	0.79	(0.56)	1.24	(1.13)	4.40
MLNSX	0.55	(0.08)	0.00	(0.05)	0.00	0.00	0.91	(1.18)	4.14
MLMIX	0.56	(0.03)	(0.04)	0.00	0.82	(0.57)	1.28	(1.13)	4.44
MLMSX	0.56	(0.03)	(0.04)	0.00	0.80	(0.58)	1.28	(1.13)	4.43
MLNCX	0.55	(0.08)	0.00	(0.06)	0.00	0.00	0.94	(1.19)	4.12

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