Global Opportunities Correlations

GBPIX Fund

USD 11.23 0.11 0.97%

The current 90-days correlation between Global Opportunities and Doubleline Total Return is 0.15 (i.e., Average diversification). The correlation of Global Opportunities 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 Opportunities Correlation With Market

Poor diversification

The correlation between Global Opportunities Fund and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Opportunities Fund 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 Global Opportunities 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

0.78	QNTAX	Quantex Fund Adviser	Pair Corr
0.78	QNTIX	Quantex Fund Institu	Pair Corr
0.93	IFAAX	Infrastructure Fund	Pair Corr
0.93	IFAIX	Infrastructure Fund	Pair Corr
0.74	BLNIX	Balanced Fund Instit	Pair Corr
0.73	BLNAX	Balanced Fund Adviser	Pair Corr
0.66	FLCGX	Quantex Fund Retail	Pair Corr
0.86	FLDOX	Dividend Opportunities	Pair Corr
0.77	FLDGX	Dynamic Growth	Pair Corr
0.73	FLDFX	Balanced Fund Retail	Pair Corr
1.0	FLFGX	Global Opportunities	Pair Corr
0.64	FLMIX	Muirfield Fund Insti	Pair Corr
0.64	FLMAX	Muirfield Fund Adviser	Pair Corr
0.93	FLRUX	Infrastructure Fund	Pair Corr
0.86	DVOIX	Dividend Opportunities	Pair Corr
0.87	DVOAX	Dividend Opportunities	Pair Corr
0.99	GBPAX	Global Opportunities	Pair Corr
0.78	DYGIX	Dynamic Growth	Pair Corr
0.78	DYGAX	Dynamic Growth	Pair Corr
0.7	RIRAX	Capital Income Builder	Pair Corr
0.69	RIREX	Capital Income Builder	Pair Corr
0.7	RIRCX	Capital Income Builder	Pair Corr
0.69	RIRFX	Capital Income Builder	Pair Corr
0.7	CIRCX	Capital Income Builder	Pair Corr
0.7	CIREX	Capital Income Builder	Pair Corr
0.7	RIRBX	Capital Income Builder	Pair Corr
0.69	CAIFX	Capital Income Builder	Pair Corr
0.69	CIRFX	Capital Income Builder	Pair Corr
0.69	CIRAX	Capital Income Builder	Pair Corr

Moving against Global Mutual Fund

0.63	TCTGX	Transamerica Cleartrack	Pair Corr
0.45	USPSX	Profunds Ultrashort	Pair Corr
0.63	TDKTX	Cleartrack 2015 Class	Pair Corr
0.63	TCTJX	Transamerica Cleartrack	Pair Corr

Related Correlations Analysis

	DLTNX	ABNTX	MBSAX	MIIIX	PRVBX	MSTBX	BMOPX
DLTNX		0.97	0.96	1.0	0.95	0.97	0.99	DLTNX
ABNTX	0.97		0.95	0.96	0.96	0.97	0.97	ABNTX
MBSAX	0.96	0.95		0.95	0.96	0.96	0.96	MBSAX
MIIIX	1.0	0.96	0.95		0.93	0.95	1.0	MIIIX
PRVBX	0.95	0.96	0.96	0.93		0.98	0.94	PRVBX
MSTBX	0.97	0.97	0.96	0.95	0.98		0.96	MSTBX
BMOPX	0.99	0.97	0.96	1.0	0.94	0.96		BMOPX
	DLTNX	ABNTX	MBSAX	MIIIX	PRVBX	MSTBX	BMOPX

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Risk-Adjusted Indicators

There is a big difference between Global Mutual Fund performing well and Global Opportunities 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 Opportunities' 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
DLTNX	0.23	0.02	0.06	0.85	0.16	(0.31)	0.57	(0.34)	1.40
ABNTX	0.15	0.03	0.11	(10.71)	0.00	(0.20)	0.30	(0.39)	0.99
MBSAX	0.18	0.01	0.02	(0.18)	0.20	(0.21)	0.36	(0.30)	1.34
MIIIX	0.25	0.01	0.03	0.69	0.23	(0.32)	0.54	(0.43)	1.42
PRVBX	0.10	0.01	0.06	(0.46)	0.00	(0.13)	0.23	(0.17)	0.53
MSTBX	0.11	0.01	0.06	(0.50)	0.00	(0.15)	0.21	(0.21)	0.62
BMOPX	0.24	0.01	0.02	0.53	0.24	(0.26)	0.55	(0.44)	1.36

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