US Large Cap Equity US Mid Cap Equity US Small Cap Equity Aset Class Correlations 10-year Frontier Emerging Emerging Mkts Global Devlpd Global (ex-Us) Global (ex-Us) Markets Markets Small-cap Mkt Eq Lge Cap Eq Smll Cap a Frontier Markets 1.00 Emerging Markets 0.62 1.00 Emerging Mkts Small cap 0.63 0.96 1.00 Global Devlpd Mkt Eq 0.65 0.88 0.85 1.00 Global (ex-Us) ge Cap Eq 0.67 0.90 0.87 0.98 1.00 Global (ex-Us) Smll Cap q 0.65 0.90 0.90 0.93 0.95 1.00 US Large Cap Equity 0.60 0.80 0.77 0.97 0.89 0.85 US Mid Cap Equity 0.59 0.81 0.79 0.95 0.88 0.87 Us Small Cap Equity 0.50 0.74 0.70 0.88 0.80 0.79 Source: eVestment Alliance Driehaus Capital Management 1.00 0.97 0.93 1.00 0.96 1.00 Which asset pair provides the most diversification benefits? (Choose two.)