Emerging Markets Correlations

MMKBX Fund

USD 21.02 0.08 0.38%

The current 90-days correlation between Emerging Markets Por and Ms Global Fixed is 0.18 (i.e., Average 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

Weak diversification

The correlation between Emerging Markets Portfolio and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Emerging Markets Portfolio and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Emerging Markets Portfolio. 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 bureau of labor statistics.

Moving together with Emerging Mutual Fund

0.98	TEMUX	Emerging Markets Equity	Pair Corr
1.0	MMMPX	Msif Emerging Markets	Pair Corr
1.0	MRGEX	Msif Emerging Markets	Pair Corr
0.62	MRLBX	Global Real Estate	Pair Corr
0.62	MRLAX	Global Real Estate	Pair Corr
0.94	MSACX	Active International	Pair Corr
0.88	MSALX	International Advantage	Pair Corr
0.61	MSDFX	Morgan Stanley Insti	Pair Corr
0.75	MSEEX	Morgan Stanley European	Pair Corr
0.61	MSFBX	Global Franchise Por	Pair Corr
0.61	MSFAX	Global Franchise Por	Pair Corr

Related Correlations Analysis

	MFIRX	MGGNX	FSBCX	PAGLX	KGLCX	BXFIX	APDPX	CABIX
MFIRX		0.87	0.49	0.28	0.06	0.13	-0.02	0.79	MFIRX
MGGNX	0.87		0.33	0.11	-0.04	0.03	-0.15	0.7	MGGNX
FSBCX	0.49	0.33		0.89	0.5	0.48	0.45	0.74	FSBCX
PAGLX	0.28	0.11	0.89		0.66	0.7	0.74	0.52	PAGLX
KGLCX	0.06	-0.04	0.5	0.66		0.84	0.88	-0.06	KGLCX
BXFIX	0.13	0.03	0.48	0.7	0.84		0.93	0.01	BXFIX
APDPX	-0.02	-0.15	0.45	0.74	0.88	0.93		-0.06	APDPX
CABIX	0.79	0.7	0.74	0.52	-0.06	0.01	-0.06		CABIX
	MFIRX	MGGNX	FSBCX	PAGLX	KGLCX	BXFIX	APDPX	CABIX

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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

APDPX	+ 0.93	BXFIX
PAGLX	+ 0.89	FSBCX
APDPX	+ 0.88	KGLCX
MGGNX	+ 0.87	MFIRX
BXFIX	+ 0.84	KGLCX
CABIX	+ 0.79	MFIRX

High negative correlations

APDPX	- 0.15	MGGNX
CABIX	- 0.06	APDPX
CABIX	- 0.06	KGLCX
KGLCX	- 0.04	MGGNX
APDPX	- 0.02	MFIRX

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
MFIRX	0.09	0.01	(0.46)	(0.83)	0.00	(0.23)	0.19	(0.19)	0.76
MGGNX	0.19	0.01	(0.36)	0.81	0.15	(0.24)	0.34	(0.34)	1.13
FSBCX	0.36	(0.04)	(0.19)	0.04	0.46	(0.37)	0.75	(0.85)	2.09
PAGLX	0.52	(0.03)	(0.09)	0.07	0.68	(0.55)	1.14	(1.28)	3.68
KGLCX	1.07	0.38	0.33	0.49	0.59	(1.29)	3.14	(1.32)	7.99
BXFIX	0.07	0.02	0.00	1.58	0.00	0.00	0.12	(0.11)	0.81
APDPX	0.10	0.03	(0.59)	19.80	0.00	(0.14)	0.20	(0.10)	0.40
CABIX	0.31	(0.03)	(0.24)	0.03	0.37	(0.34)	0.57	(0.72)	1.86

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