Brandes Small Correlations

BSCRX Fund

USD 17.04 0.19 1.13%

The current 90-days correlation between Brandes Small Cap and Brandes Small Cap is 1.0 (i.e., No risk reduction). The correlation of Brandes Small 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 Small Correlation With Market

Poor diversification

The correlation between Brandes Small Cap and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brandes Small Cap 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 Small Cap. 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 metropolitan statistical area.

Moving together with Brandes Mutual Fund

0.97	BSCMX	Brandes Small Cap	Pair Corr
1.0	BSCAX	Brandes Small Cap	Pair Corr
0.65	BGEAX	Brandes Global Equity	Pair Corr
0.66	BGVIX	Brandes Global Equity	Pair Corr
0.63	BGVCX	Brandes Global Equity	Pair Corr
0.92	VSIIX	Vanguard Small Cap	Pair Corr
0.95	VISVX	Vanguard Small Cap	Pair Corr
0.97	DFSVX	Us Small Cap	Pair Corr
0.94	DFFVX	Us Targeted Value	Pair Corr
0.92	UBVCX	Undiscovered Managers	Pair Corr
0.92	UBVAX	Undiscovered Managers	Pair Corr
0.96	UBVSX	Undiscovered Managers	Pair Corr
0.96	AVFIX	American Beacon Small	Pair Corr
0.91	LSHUX	Horizon Spin Off	Pair Corr
0.91	LSHCX	Horizon Spin Off Potential Growth	Pair Corr
0.94	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.94	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.91	LSHEX	Kinetics Spin Off Potential Growth	Pair Corr
0.94	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.91	KNPCX	Kinetics Paradigm	Pair Corr
0.91	LSHAX	Horizon Spin Off	Pair Corr

Moving against Brandes Mutual Fund

0.76	BIECX	Brandes International	Pair Corr
0.75	BIERX	Brandes International	Pair Corr
0.75	BIEAX	Brandes International	Pair Corr
0.74	BIIEX	Brandes International	Pair Corr
0.62	BCPRX	Brandes E Plus	Pair Corr
0.61	BCPIX	Brandes E Plus	Pair Corr
0.6	BCPAX	Brandes E Plus	Pair Corr
0.53	SMARX	Brandes Separately	Pair Corr

Related Correlations Analysis

	BSCAX	BCPRX	BCPIX	BCPAX	BEMIX	BEMCX	BEMAX	BEMRX
BSCAX		-0.62	-0.61	-0.6	-0.19	-0.21	-0.16	-0.19	BSCAX
BCPRX	-0.62		0.97	0.97	-0.02	0.0	-0.1	-0.03	BCPRX
BCPIX	-0.61	0.97		1.0	-0.09	-0.07	-0.17	-0.1	BCPIX
BCPAX	-0.6	0.97	1.0		-0.12	-0.1	-0.2	-0.13	BCPAX
BEMIX	-0.19	-0.02	-0.09	-0.12		1.0	0.95	1.0	BEMIX
BEMCX	-0.21	0.0	-0.07	-0.1	1.0		0.95	1.0	BEMCX
BEMAX	-0.16	-0.1	-0.17	-0.2	0.95	0.95		0.95	BEMAX
BEMRX	-0.19	-0.03	-0.1	-0.13	1.0	1.0	0.95		BEMRX
	BSCAX	BCPRX	BCPIX	BCPAX	BEMIX	BEMCX	BEMAX	BEMRX

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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

BCPAX	+ 1.0	BCPIX
BEMCX	+ 1.0	BEMIX
BEMRX	+ 1.0	BEMIX
BEMRX	+ 1.0	BEMCX
BCPIX	+ 0.97	BCPRX
BCPAX	+ 0.97	BCPRX

High negative correlations

BCPRX	- 0.62	BSCAX
BCPIX	- 0.61	BSCAX
BCPAX	- 0.6	BSCAX
BEMCX	- 0.21	BSCAX
BEMAX	- 0.2	BCPAX
BEMRX	- 0.19	BSCAX

Risk-Adjusted Indicators

There is a big difference between Brandes Mutual Fund performing well and Brandes Small 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 Small'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
BSCAX	0.84	0.04	0.06	0.14	0.70	(1.07)	2.14	(1.39)	5.77
BCPRX	0.19	(0.03)	0.00	(0.56)	0.00	0.00	0.36	(0.48)	1.19
BCPIX	0.21	(0.01)	0.00	0.20	0.00	0.00	0.47	(0.48)	1.17
BCPAX	0.20	(0.01)	0.00	0.21	0.00	0.00	0.48	(0.48)	1.09
BEMIX	0.77	(0.04)	(0.11)	0.00	0.95	(0.86)	1.57	(1.75)	5.51
BEMCX	0.78	(0.04)	(0.11)	(0.01)	0.96	(0.86)	1.60	(1.77)	5.83
BEMAX	0.75	0.01	(0.12)	0.03	0.92	(0.86)	1.58	(1.64)	5.67
BEMRX	0.75	(0.03)	(0.11)	0.01	0.92	(0.86)	1.55	(1.62)	5.69

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