Causeway Emerging Correlations

CEMIX Fund

USD 12.96 0.01 0.08%

The correlation of Causeway 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.

Causeway Emerging Correlation With Market

Very weak diversification

The correlation between Causeway Emerging Markets and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Causeway Emerging Markets 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 Causeway 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 gross domestic product.

Moving together with Causeway Mutual Fund

1.0	CEMVX	Causeway Emerging Markets	Pair Corr
0.98	CGVVX	Causeway Global Value	Pair Corr
0.98	CGVIX	Causeway Global Value	Pair Corr
0.98	CIISX	Causeway International	Pair Corr
0.98	CIOIX	Causeway International	Pair Corr
0.98	CIOVX	Causeway International	Pair Corr
0.97	CIVVX	Causeway International	Pair Corr
0.97	CIVIX	Causeway International	Pair Corr
0.98	VEMAX	Vanguard Emerging Markets	Pair Corr
0.98	VEIEX	Vanguard Emerging Markets	Pair Corr
0.98	VEMIX	Vanguard Emerging Markets	Pair Corr
0.98	VEMRX	Vanguard Emerging Markets	Pair Corr
0.99	FWWNX	American Funds New	Pair Corr
0.99	FNFWX	American Funds New	Pair Corr
0.99	NEWFX	New World Fund	Pair Corr
0.99	NWFFX	New World Fund	Pair Corr
0.98	NEWCX	New World Fund	Pair Corr
0.98	ODVYX	Oppenheimer Developing	Pair Corr
0.98	DXQLX	Direxion Monthly Nasdaq	Pair Corr
0.98	RYVLX	Nasdaq 100 2x	Pair Corr
0.98	RYVYX	Nasdaq 100 2x	Pair Corr
0.98	UOPIX	Ultra Nasdaq 100	Pair Corr
0.98	RYCCX	Nasdaq 100 2x	Pair Corr
0.98	UOPSX	Ultranasdaq 100 Profund	Pair Corr
0.96	INPIX	Internet Ultrasector	Pair Corr
0.96	INPSX	Internet Ultrasector	Pair Corr
0.76	BIPIX	Biotechnology Ultrasector	Pair Corr
0.99	EMFIX	Ashmore Emerging Markets	Pair Corr
0.95	TLGCX	Timothy Largemip Cap	Pair Corr
0.94	IMOZX	Voya Midcap Opportunities	Pair Corr
0.94	NWJVX	Nationwide Highmark Short	Pair Corr
0.97	DBELX	Doubleline Emerging	Pair Corr
0.96	FSMDX	Fidelity Mid Cap	Pair Corr
0.85	MDILX	Blackrock Intl A	Pair Corr
0.96	SBPYX	Clearbridge Small Cap	Pair Corr
0.99	DGTSX	Global Allocation 2575	Pair Corr
0.98	DFABX	Dfa Investment Dimensions	Pair Corr
0.98	STEYX	International Strategic	Pair Corr

Related Correlations Analysis

	CVISX	CEMIX	CEMVX	CGAVX	CGAIX	CGVVX	CGVIX	CIISX	CIOIX
CVISX		0.7	0.7	0.0	0.0	0.67	0.67	0.71	0.65	CVISX
CEMIX	0.7		1.0	0.0	0.0	0.98	0.98	0.98	0.98	CEMIX
CEMVX	0.7	1.0		0.0	0.0	0.98	0.98	0.98	0.98	CEMVX
CGAVX	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	CGAVX
CGAIX	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	CGAIX
CGVVX	0.67	0.98	0.98	0.0	0.0		1.0	0.97	0.99	CGVVX
CGVIX	0.67	0.98	0.98	0.0	0.0	1.0		0.97	0.99	CGVIX
CIISX	0.71	0.98	0.98	0.0	0.0	0.97	0.97		0.99	CIISX
CIOIX	0.65	0.98	0.98	0.0	0.0	0.99	0.99	0.99		CIOIX
	CVISX	CEMIX	CEMVX	CGAVX	CGAIX	CGVVX	CGVIX	CIISX	CIOIX

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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

CEMVX	+ 1.0	CEMIX
CGVIX	+ 1.0	CGVVX
CIOIX	+ 0.99	CGVVX
CIOIX	+ 0.99	CGVIX
CIOIX	+ 0.99	CIISX
CGVVX	+ 0.98	CEMIX

High negative correlations

CIOIX	- 0.0	CGAIX
CIISX	- 0.0	CGAIX
CGVIX	- 0.0	CGAIX
CGVVX	- 0.0	CGAIX
CIOIX	- 0.0	CGAVX
CIISX	- 0.0	CGAVX

Risk-Adjusted Indicators

There is a big difference between Causeway Mutual Fund performing well and Causeway 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 Causeway 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
CVISX	0.54	0.27	0.23	16.22	0.00	(0.68)	1.24	(0.81)	3.12
CEMIX	0.62	0.26	0.25	0.80	0.00	(0.78)	1.69	(1.06)	4.20
CEMVX	0.63	0.26	0.24	0.82	0.00	(0.83)	1.75	(1.12)	4.30
CGAVX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CGAIX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CGVVX	0.65	0.16	0.15	0.34	0.43	(0.73)	1.93	(1.23)	4.69
CGVIX	0.65	0.16	0.15	0.35	0.38	(0.74)	1.92	(1.15)	4.57
CIISX	0.51	0.26	0.27	1.04	0.00	(0.65)	1.31	(0.81)	3.12
CIOIX	0.55	0.18	0.17	0.52	0.12	(0.65)	1.51	(0.93)	3.55

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