Gmo Alternative Correlations

Mutual Funds . USA . 
Fund . Gmo Alternative Allocation
GAAVX Fund  USD 17.60  0.03  0.17%   
The current 90-days correlation between Gmo Alternative Allo and Inverse Government Long is 0.18 (i.e., Average diversification). The correlation of Gmo Alternative 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.

Gmo Alternative Correlation With Market

Good diversification

The correlation between Gmo Alternative Allocation and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gmo Alternative Allocation and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gmo Alternative Allocation. 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 real.

Moving together with Gmo Mutual Fund

  0.74GEACX Gmo TrustPairCorr
  0.74IOVFX Gmo InternationalPairCorr
  0.73GIEAX Gmo International EquityPairCorr
  0.82GIMFX Gmo ImplementationPairCorr
  0.74GIOTX Gmo InternationalPairCorr
  0.74GMAZX Gmo InternationalPairCorr
  0.72GMAHX Gmo Usonian JapanPairCorr
  0.72GMAKX Gmo Usonian JapanPairCorr
  0.73GMAQX Gmo Emerging MarketsPairCorr
  0.73GMAUX Gmo Emerging MarketsPairCorr
  0.79GMCFX Gmo International EquityPairCorr
  0.72GMIIX Gmo Usonian JapanPairCorr
  0.73GMOIX Gmo International EquityPairCorr
  0.68GMOOX Gmo Global AssetPairCorr
  0.73GMOUX Gmo International EquityPairCorr
  0.74GMOWX Gmo ResourcesPairCorr
  0.71GMOYX Gmo TrustPairCorr

Moving against Gmo Mutual Fund

  0.43GHVIX Gmo High YieldPairCorr
  0.36GUSOX Gmo TrustPairCorr
  0.31GMAWX Gmo Small CapPairCorr
  0.31GMAYX Gmo Small CapPairCorr
  0.46GMCQX Gmo Equity AllocationPairCorr
  0.5GMUEX Gmo Equity AllocationPairCorr
  0.46GMOZX Gmo High YieldPairCorr

Related Correlations Analysis

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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   
UIGSX
+ 1.0
RGVCX
PGIQX
+ 0.97
RGVCX
PGIQX
+ 0.97
UIGSX
PGIQX
+ 0.88
SMAAX
SMAAX
+ 0.85
UIGSX
SMAAX
+ 0.84
RGVCX
  
High negative correlations   
PGIQX
- 0.97
RYAQX
RGVCX
- 0.96
RYAQX
UIGSX
- 0.95
RYAQX
SMAAX
- 0.81
RYAQX
FISAX
- 0.22
RYAQX

Risk-Adjusted Indicators

There is a big difference between Gmo Mutual Fund performing well and Gmo Alternative 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 Gmo Alternative'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.

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