International Equity Correlations

BGIKX Fund

USD 13.43 0.33 2.40%

The current 90-days correlation between The International Equity and The Long Term is -0.17 (i.e., Good diversification). The correlation of International Equity 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.

International Equity Correlation With Market

Weak diversification

The correlation between The International Equity and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The International Equity 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 The International 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 industry.

Moving together with International Mutual Fund

0.9	BSGPX	Eafe Pure	Pair Corr
0.97	BGCWX	Baillie Gifford Eafe	Pair Corr
0.97	BGCSX	Eafe Choice	Pair Corr
0.96	BGCJX	Baillie Gifford Eafe	Pair Corr
0.85	BGEZX	Baillie Gifford Emerging	Pair Corr
0.85	BGEWX	Baillie Gifford Emerging	Pair Corr
0.65	BGEUX	Baillie Gifford Eafe	Pair Corr
0.67	BGEVX	Baillie Gifford Eafe	Pair Corr
0.67	BGETX	Baillie Gifford Eafe	Pair Corr
0.88	BGEPX	Baillie Gifford Emerging	Pair Corr
0.88	BGELX	Emerging Markets	Pair Corr
0.79	BGEGX	Baillie Gifford Emerging	Pair Corr
0.79	BGEHX	Baillie Gifford Emerging	Pair Corr
0.67	BGEFX	Baillie Gifford Eafe	Pair Corr
0.88	BGEDX	Baillie Gifford Emerging	Pair Corr
0.61	BGHDX	Baillie Gifford Health	Pair Corr
0.93	BGIUX	Baillie Gifford Inte	Pair Corr
0.99	BGIVX	Baillie Gifford Inte	Pair Corr
0.99	BGITX	Baillie Gifford Inte	Pair Corr
0.93	BGIFX	Baillie Gifford Inte	Pair Corr
0.79	BGKEX	Emerging Markets	Pair Corr

Moving against International Mutual Fund

0.34	BGGKX	Equity Growth	Pair Corr
0.32	BGGSX	Equity Growth	Pair Corr
0.34	BGUKX	Baillie Gifford Discovery	Pair Corr
0.34	BGUIX	Baillie Gifford Discovery	Pair Corr

Related Correlations Analysis

	BSGLX	BTLKX	BCANX	BGAKX	BGALX	BGCWX	BGCSX
BSGLX		0.78	0.8	0.8	0.82	-0.35	-0.36	BSGLX
BTLKX	0.78		0.86	0.82	0.81	0.23	0.22	BTLKX
BCANX	0.8	0.86		0.68	0.68	-0.05	-0.07	BCANX
BGAKX	0.8	0.82	0.68		0.98	0.14	0.12	BGAKX
BGALX	0.82	0.81	0.68	0.98		0.11	0.1	BGALX
BGCWX	-0.35	0.23	-0.05	0.14	0.11		1.0	BGCWX
BGCSX	-0.36	0.22	-0.07	0.12	0.1	1.0		BGCSX
	BSGLX	BTLKX	BCANX	BGAKX	BGALX	BGCWX	BGCSX

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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

BGCSX	+ 1.0	BGCWX
BGALX	+ 0.98	BGAKX
BCANX	+ 0.86	BTLKX
BGALX	+ 0.82	BSGLX
BGAKX	+ 0.82	BTLKX
BGALX	+ 0.81	BTLKX

High negative correlations

BGCSX	- 0.36	BSGLX
BGCWX	- 0.35	BSGLX
BGCSX	- 0.07	BCANX
BGCWX	- 0.05	BCANX

Risk-Adjusted Indicators

There is a big difference between International Mutual Fund performing well and International Equity 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 International Equity'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
BSGLX	0.86	0.25	0.10	(1.61)	1.01	(0.92)	2.32	(2.22)	5.65
BTLKX	0.82	0.12	0.00	(0.46)	1.06	(1.07)	2.08	(1.89)	7.24
BCANX	1.40	0.46	0.10	(0.77)	1.47	(2.47)	6.01	(2.52)	18.02
BGAKX	0.65	(0.06)	(0.09)	0.02	0.94	(0.68)	1.36	(1.63)	5.29
BGALX	0.67	(0.05)	(0.08)	0.02	1.00	(0.67)	1.36	(1.61)	4.20
BGCWX	0.73	(0.14)	0.00	(0.19)	0.00	0.00	1.19	(1.74)	5.37
BGCSX	0.70	(0.13)	0.00	(0.21)	0.00	0.00	1.33	(1.76)	5.35

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