Korea Closed Correlations

KF Fund

USD 36.06 0.03 0.08%

The current 90-days correlation between Korea Closed and PHD is 0.1 (i.e., Average diversification). The correlation of Korea Closed 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.

Korea Closed Correlation With Market

Weak diversification

The correlation between Korea Closed and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Korea Closed 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 Korea Closed. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Korea Fund

0.86	MDMTX	Blrc Sgy Mnp	Pair Corr
0.76	PRFRX	T Rowe Price	Pair Corr
0.82	VFIAX	Vanguard 500 Index	Pair Corr
0.81	MCECX	Martin Currie Emerging	Pair Corr
0.76	FPADX	Fidelity Emerging Markets	Pair Corr
0.76	NKX	Nuveen California Amt	Pair Corr
0.78	MUE	Blackrock Muniholdings	Pair Corr
0.7	PYUSX	Payden Government	Pair Corr
0.82	VFINX	Vanguard 500 Index	Pair Corr
0.81	EEIFX	Monteagle Enhanced Equity	Pair Corr
0.78	RERFX	Europacific Growth	Pair Corr
0.64	FXAIX	Fidelity 500 Index	Pair Corr
0.76	CTTCX	Calvert Tax Free	Pair Corr
0.88	NXJ	Nuveen New Jersey	Pair Corr
0.91	FGWMX	Fidelity New Markets	Pair Corr
0.72	FALAX	Fidelity Advisor Large	Pair Corr
0.64	BEQGX	Equity Growth	Pair Corr
0.75	GTHCX	Invesco Global Health	Pair Corr

Related Correlations Analysis

	PHD	SWFCX	TCMIX	TPZ	MCN	RSMRX	WEA	HEQ	INPSX
PHD		0.63	-0.72	0.45	-0.48	0.01	-0.26	0.62	-0.58	PHD
SWFCX	0.63		-0.43	0.37	-0.36	0.52	0.23	0.86	-0.58	SWFCX
TCMIX	-0.72	-0.43		-0.29	0.83	0.2	0.38	-0.46	0.7	TCMIX
TPZ	0.45	0.37	-0.29		0.05	-0.03	-0.01	0.13	-0.26	TPZ
MCN	-0.48	-0.36	0.83	0.05		0.15	0.16	-0.41	0.64	MCN
RSMRX	0.01	0.52	0.2	-0.03	0.15		0.34	0.4	-0.37	RSMRX
WEA	-0.26	0.23	0.38	-0.01	0.16	0.34		0.12	0.11	WEA
HEQ	0.62	0.86	-0.46	0.13	-0.41	0.4	0.12		-0.52	HEQ
INPSX	-0.58	-0.58	0.7	-0.26	0.64	-0.37	0.11	-0.52		INPSX
	PHD	SWFCX	TCMIX	TPZ	MCN	RSMRX	WEA	HEQ	INPSX

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

HEQ	+ 0.86	SWFCX
MCN	+ 0.83	TCMIX
INPSX	+ 0.7	TCMIX
INPSX	+ 0.64	MCN
SWFCX	+ 0.63	PHD
HEQ	+ 0.62	PHD

High negative correlations

TCMIX	- 0.72	PHD
INPSX	- 0.58	SWFCX
INPSX	- 0.58	PHD
INPSX	- 0.52	HEQ
MCN	- 0.48	PHD
HEQ	- 0.46	TCMIX

Risk-Adjusted Indicators

There is a big difference between Korea Fund performing well and Korea Closed 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 Korea Closed'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
PHD	0.24	0.04	(0.07)	(1.23)	0.12	(0.33)	0.41	(0.41)	2.64
SWFCX	0.53	0.08	0.07	0.17	0.60	(0.57)	1.26	(1.15)	3.27
TCMIX	0.61	(0.10)	0.00	(0.09)	0.00	0.00	1.06	(1.33)	3.43
TPZ	0.64	0.02	(0.02)	0.10	0.76	(0.65)	1.16	(1.19)	3.35
MCN	0.61	(0.08)	0.00	(0.07)	0.00	0.00	1.16	(1.31)	2.78
RSMRX	0.78	(0.06)	(0.06)	0.00	0.96	(0.81)	1.71	(1.41)	4.67
WEA	0.43	(0.01)	(0.12)	0.00	0.45	(0.50)	0.91	(0.72)	2.65
HEQ	0.43	0.07	0.01	(1.92)	0.44	(0.49)	0.92	(0.94)	2.17
INPSX	1.34	(0.09)	0.00	(0.35)	0.00	0.00	2.58	(3.66)	6.98

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