Global Gold Correlations

BGEIX Fund

USD 16.04 0.25 1.53%

The current 90-days correlation between Global Gold Fund and Gabelli Gold Fund is 0.97 (i.e., Almost no diversification). The correlation of Global Gold 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.

Global Gold Correlation With Market

Modest diversification

The correlation between Global Gold Fund and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Gold Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Global Gold 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 Global Mutual Fund

0.74	CDBCX	Diversified Bond	Pair Corr
0.72	AMKIX	Emerging Markets	Pair Corr
0.82	TWACX	Short Term Government	Pair Corr
0.86	TWARX	Short Term Government	Pair Corr
0.83	TWAVX	Short Term Government	Pair Corr
0.8	TWGAX	International Growth	Pair Corr
0.81	TWIEX	International Growth	Pair Corr
0.72	TWMIX	Emerging Markets	Pair Corr
0.84	TWUSX	Short Term Government	Pair Corr
0.85	TWUOX	Short Term Government	Pair Corr
0.77	NPHIX	High Income Fund	Pair Corr

Moving against Global Mutual Fund

0.63	TWCCX	Ultra Fund C	Pair Corr
0.59	TWCAX	Select Fund A	Pair Corr
0.59	TWCIX	Select Fund Investor	Pair Corr
0.58	TWCGX	Growth Fund Investor	Pair Corr
0.45	AMEIX	Equity Growth	Pair Corr
0.44	TWBIX	Balanced Fund Investor	Pair Corr
0.62	TWCUX	Ultra Fund Investor	Pair Corr
0.61	TWSIX	Select Fund I	Pair Corr
0.59	TWRCX	Growth Fund C	Pair Corr
0.58	TWGIX	Growth Fund I	Pair Corr
0.62	TWUAX	Ultra Fund A	Pair Corr
0.62	TWUIX	Ultra Fund I	Pair Corr
0.37	ANOCX	Small Cap Growth	Pair Corr
0.36	ANOAX	Small Cap Growth	Pair Corr

Related Correlations Analysis

	GOLDX	UNWPX	USERX	INIVX	FSAGX
GOLDX		0.97	0.97	1.0	1.0	GOLDX
UNWPX	0.97		0.94	0.97	0.97	UNWPX
USERX	0.97	0.94		0.97	0.97	USERX
INIVX	1.0	0.97	0.97		1.0	INIVX
FSAGX	1.0	0.97	0.97	1.0		FSAGX
	GOLDX	UNWPX	USERX	INIVX	FSAGX

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Risk-Adjusted Indicators

There is a big difference between Global Mutual Fund performing well and Global Gold 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 Global Gold'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
GOLDX	1.11	0.32	0.22	0.68	1.17	(1.17)	2.84	(2.49)	6.41
UNWPX	1.27	0.32	0.19	0.60	1.37	(1.60)	3.11	(2.50)	8.41
USERX	1.27	0.27	0.20	11.88	1.37	(1.43)	3.06	(2.98)	7.07
INIVX	1.25	0.35	0.23	0.68	1.29	(1.37)	3.27	(2.86)	7.33
FSAGX	1.24	0.36	0.24	0.66	1.33	(1.37)	3.15	(2.75)	6.78

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