China Emerging Correlations

JHCIX Fund

USD 11.61 0.01 0.09%

The current 90-days correlation between China Emerging Leaders and Vanguard Total Stock is 0.51 (i.e., Very weak diversification). The correlation of China 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.

China Emerging Correlation With Market

Very weak diversification

The correlation between China Emerging Leaders and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding China Emerging Leaders and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in China Emerging Leaders. 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 gross domestic product.

Moving together with China Mutual Fund

0.74	VGTSX	Vanguard Total Inter	Pair Corr
0.74	VTIAX	Vanguard Total Inter	Pair Corr
0.66	PFHCX	Pacific Funds Small	Pair Corr
0.63	NHS	Neuberger Berman High	Pair Corr

Moving against China Mutual Fund

0.55	UPRXX	Ubs Money Series	Pair Corr
0.47	PSDSX	Palmer Square Ultra	Pair Corr
0.41	PAGRX	Aggressive Growth	Pair Corr
0.35	RFXIX	Rational Special Sit	Pair Corr
0.33	TPZ	Tortoise Capital Series	Pair Corr
0.55	LACXX	Lord Abbett Govt	Pair Corr
0.52	CSHIX	Credit Suisse Floating	Pair Corr
0.44	PSHAX	Short Term Fund	Pair Corr
0.43	PIPPX	Midcap Growth	Pair Corr
0.38	URUSX	Ultra Short Term	Pair Corr
0.38	MLXIX	Catalyst Mlp Infrast	Pair Corr
0.34	LMOFX	Miller Opportunity Trust	Pair Corr
0.32	CFNDX	Cargile Fund	Pair Corr
0.32	BTEEX	Baron Select Funds	Pair Corr

Related Correlations Analysis

	VTSAX	VFIAX	VTSMX	VITSX	VSTSX	VSMPX	VFINX	VFFSX	VGTSX	VTIAX
VTSAX		1.0	1.0	1.0	1.0	1.0	1.0	1.0	-0.6	-0.61	VTSAX
VFIAX	1.0		1.0	1.0	1.0	1.0	1.0	1.0	-0.59	-0.6	VFIAX
VTSMX	1.0	1.0		1.0	1.0	1.0	1.0	1.0	-0.6	-0.61	VTSMX
VITSX	1.0	1.0	1.0		1.0	1.0	1.0	1.0	-0.6	-0.61	VITSX
VSTSX	1.0	1.0	1.0	1.0		1.0	1.0	1.0	-0.6	-0.61	VSTSX
VSMPX	1.0	1.0	1.0	1.0	1.0		1.0	1.0	-0.6	-0.61	VSMPX
VFINX	1.0	1.0	1.0	1.0	1.0	1.0		1.0	-0.59	-0.6	VFINX
VFFSX	1.0	1.0	1.0	1.0	1.0	1.0	1.0		-0.59	-0.6	VFFSX
VGTSX	-0.6	-0.59	-0.6	-0.6	-0.6	-0.6	-0.59	-0.59		1.0	VGTSX
VTIAX	-0.61	-0.6	-0.61	-0.61	-0.61	-0.61	-0.6	-0.6	1.0		VTIAX
	VTSAX	VFIAX	VTSMX	VITSX	VSTSX	VSMPX	VFINX	VFFSX	VGTSX	VTIAX

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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

VFIAX	+ 1.0	VTSAX
VTSMX	+ 1.0	VTSAX
VITSX	+ 1.0	VTSAX
VSTSX	+ 1.0	VTSAX
VSMPX	+ 1.0	VTSAX
VFINX	+ 1.0	VTSAX

High negative correlations

VTIAX	- 0.61	VSMPX
VTIAX	- 0.61	VSTSX
VTIAX	- 0.61	VITSX
VTIAX	- 0.61	VTSMX
VTIAX	- 0.61	VTSAX
VTIAX	- 0.6	VFFSX

Risk-Adjusted Indicators

There is a big difference between China Mutual Fund performing well and China 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 China 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
VTSAX	0.54	0.04	0.04	0.07	0.75	(0.56)	0.98	(0.95)	5.94
VFIAX	0.51	0.04	0.04	0.07	0.72	(0.50)	0.97	(0.96)	5.48
VTSMX	0.54	0.04	0.04	0.06	0.75	(0.56)	0.98	(0.94)	5.94
VITSX	0.54	0.04	0.04	0.07	0.75	(0.56)	0.98	(0.95)	5.95
VSTSX	0.54	0.04	0.04	0.07	0.75	(0.56)	0.98	(0.95)	5.94
VSMPX	0.54	0.04	0.04	0.07	0.75	(0.56)	0.98	(0.95)	5.94
VFINX	0.51	0.04	0.04	0.07	0.72	(0.50)	0.97	(0.96)	5.48
VFFSX	0.51	0.04	0.04	0.07	0.72	(0.50)	0.97	(0.96)	5.48
VGTSX	0.59	(0.13)	0.00	(0.45)	0.00	0.00	1.13	(1.56)	4.43
VTIAX	0.56	(0.11)	0.00	(0.30)	0.00	0.00	1.14	(1.32)	4.45

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