Parametric Emerging Correlations

EIEMX Fund  USD 14.83  0.09  0.61%   
The current 90-days correlation between Parametric Emerging and Rational Strategic Allocation is 0.29 (i.e., Modest diversification). The correlation of Parametric Emerging 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.

Parametric Emerging Correlation With Market

Good diversification

The correlation between Parametric Emerging Markets and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Parametric Emerging Markets and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Parametric Emerging Markets. 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 population.

Moving together with Parametric Mutual Fund

  0.94VEMAX Vanguard Emerging MarketsPairCorr
  0.94VEIEX Vanguard Emerging MarketsPairCorr
  0.94VEMIX Vanguard Emerging MarketsPairCorr
  0.94VEMRX Vanguard Emerging MarketsPairCorr
  0.98FWWNX American Funds NewPairCorr
  0.98FNFWX American Funds NewPairCorr
  0.98NEWFX New World FundPairCorr
  0.98NWFFX New World FundPairCorr
  0.98NEWCX New World FundPairCorr
  0.95ODVYX Oppenheimer DevelopingPairCorr
  0.68BTMPX Ishares Msci EafePairCorr
  0.69BTMKX Blackrock InternationalPairCorr
  0.68MDIIX Blackrock Intern IndexPairCorr
  0.61GE GE Aerospace Fiscal Year End 28th of January 2025 PairCorr
  0.62MCD McDonalds Fiscal Year End 3rd of February 2025 PairCorr
  0.85DD Dupont De Nemours Fiscal Year End 4th of February 2025 PairCorr

Moving against Parametric Mutual Fund

  0.47COGVX Cognios Large CapPairCorr
  0.41MLPNX Oppenheimer Steelpath MlpPairCorr
  0.41MLPMX Oppenheimer Steelpath MlpPairCorr
  0.41SPMJX Invesco Steelpath MlpPairCorr
  0.4SPMPX Invesco Steelpath MlpPairCorr
  0.37FSMMX Fs Multi StrategyPairCorr
  0.43JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.34PG Procter GamblePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Parametric Mutual Fund performing well and Parametric Emerging 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 Parametric Emerging'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.