International Equities Correlations

Mutual Funds . USA . 
Fund . International Equities Index
VCIEX Fund  USD 9.81  0.01  0.10%   
The current 90-days correlation between International Equities and Smallcap Fund Fka is 0.6 (i.e., Poor diversification). The correlation of International Equities 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.

International Equities Correlation With Market

Poor diversification

The correlation between International Equities Index and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding International Equities Index 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 International Equities Index. 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 commodities.

Moving together with International Mutual Fund

  0.82VMIDX Mid Cap IndexPairCorr
  0.8VMSGX Mid Cap StrategicPairCorr
  0.85VAPPX Valic Company IPairCorr
  0.89VSRDX Valic Company IPairCorr
  0.89VSTIX Stock Index FundPairCorr
  0.9VBCVX Broad Cap ValuePairCorr
  0.88VCAAX Asset AllocationPairCorr
  0.82VCBDX Valic Company IPairCorr
  0.85VCBCX Blue Chip GrowthPairCorr
  0.91VCGAX Growth IncomePairCorr
  0.87VCGEX Emerging EconomiesPairCorr
  0.76VCGSX Government SecuritiesPairCorr
  0.97VCFVX Foreign ValuePairCorr
  0.85VCIFX International GovernmentPairCorr
  0.95VCIGX Valic Company IPairCorr
  0.84VCNIX Nasdaq 100 IndexPairCorr
  0.79VCSTX Science TechnologyPairCorr
  0.81VCTPX Inflation ProtectedPairCorr
  0.99VCSOX Global Social AwarenessPairCorr
  0.89VCSLX Small Cap IndexPairCorr
  0.84VCULX Growth Fund GrowthPairCorr
  0.92VDAFX Dynamic AllocationPairCorr
  0.83VVMCX Valic Company IPairCorr
  0.79VVSGX Valic Company IPairCorr
  0.88VVSCX Valic Company IPairCorr
  0.91VGCLX Valic Company IPairCorr
  0.91VGLSX Global StrategyPairCorr
  0.84VGREX Global Real EstatePairCorr
  0.87VHYLX Valic Company IPairCorr
  0.97VIOPX Valic Company IPairCorr
  0.93VLAGX Valic Company IPairCorr
  0.83VLCGX Large Capital GrowthPairCorr
  0.92VLSMX Valic Company IPairCorr
  0.97VGTSX Vanguard Total InterPairCorr
  0.97VTIAX Vanguard Total InterPairCorr
  0.97VTSNX Vanguard Total InterPairCorr
  0.97VTPSX Vanguard Total InterPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between International Mutual Fund performing well and International Equities 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 International Equities' 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.

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