Emerging Markets Correlations

Mutual Funds . USA . 
Fund . Emerging Markets Fund
TWMIX Fund  USD 12.82  0.03  0.23%   
The current 90-days correlation between Emerging Markets and Mid Cap Value is -0.11 (i.e., Good 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

Very weak diversification

The correlation between Emerging Markets Fund and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Emerging Markets Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Emerging Markets Fund. 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 Emerging Mutual Fund

  0.92AMDVX Mid Cap ValuePairCorr
  0.98AMEIX Equity GrowthPairCorr
  0.97AMGIX Income GrowthPairCorr
  0.7CDBCX Diversified BondPairCorr
  1.0AMKIX Emerging MarketsPairCorr
  0.69TWACX Short Term GovernmentPairCorr
  0.95TWADX Value Fund APairCorr
  0.97TWCCX Ultra Fund CPairCorr
  0.96TWCAX Select Fund APairCorr
  0.97TWCIX Select Fund InvestorPairCorr
  0.98TWCGX Growth Fund InvestorPairCorr
  0.7TWARX Short Term GovernmentPairCorr
  0.94AMVYX Mid Cap ValuePairCorr
  0.92AMVRX Mid Cap ValuePairCorr
  0.98TWBIX Balanced Fund InvestorPairCorr
  0.92AMVGX Mid Cap ValuePairCorr
  0.95TWEAX Equity IncomePairCorr
  0.94TWEIX Equity IncomePairCorr
  0.97TWCUX Ultra Fund InvestorPairCorr
  0.89TWGAX International GrowthPairCorr
  0.98TWGIX Growth Fund IPairCorr
  0.97TWGGX Global GrowthPairCorr
  0.89TWIEX International GrowthPairCorr
  0.96TWHIX Heritage Fund InvestorPairCorr
  0.98TWRCX Growth Fund CPairCorr
  0.85TWTCX Intermediate Term TaxPairCorr
  0.88TWTIX Intermediate Term TaxPairCorr
  0.98TWSCX Strategic Allocation:PairCorr
  0.97TWSAX Strategic Allocation:PairCorr
  0.97TWSMX Strategic Allocation:PairCorr
  0.97TWSIX Select Fund IPairCorr
  0.78TWUSX Short Term GovernmentPairCorr
  0.97TWVLX Value Fund InvestorPairCorr
  0.96TWUAX Ultra Fund APairCorr
  0.97TWUIX Ultra Fund IPairCorr
  0.78TWUOX Short Term GovernmentPairCorr
  0.89TWWOX Intermediate Term TaxPairCorr
  0.98NPHIX High Income FundPairCorr

Related Correlations Analysis

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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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
AMDVX  0.71  0.15  0.00 (1.10) 0.73 
(0.76)
 1.96 
(1.39)
 4.36 
AMEIX  0.67  0.12  0.12  0.25  0.56 
(0.74)
 2.06 
(1.41)
 5.23 
AMGIX  0.62  0.04  0.02  0.17  0.58 
(0.71)
 1.64 
(1.20)
 4.39 
CDBCX  0.27  0.02 (0.29)(8.10) 0.24 
(0.33)
 0.56 
(0.44)
 1.46 
AMKIX  0.54  0.21  0.19  0.59  0.00 
(0.65)
 1.73 
(1.07)
 4.10 
TWACX  0.10  0.00 (0.87) 0.33  0.00 
(0.17)
 0.22 
(0.22)
 0.56 
TWADX  0.66  0.16  0.01 (1.05) 0.64 
(0.75)
 1.63 
(1.08)
 3.73 
TWCCX  0.85  0.14  0.13  0.26  0.77 
(0.95)
 2.46 
(1.34)
 6.00 
TWCAX  0.85  0.29  0.14 (3.46) 0.74 
(1.01)
 2.56 
(1.36)
 6.01 
TWCIX  0.85  0.14  0.14  0.26  0.73 
(0.98)
 2.56 
(1.36)
 6.01 

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