Gmo High Correlations

Mutual Funds . USA . 
Fund . Gmo High Yield
GHVIX Fund  USD 16.98  0.04  0.24%   
The current 90-days correlation between Gmo High Yield and Ab Global Bond is 0.73 (i.e., Poor diversification). The correlation of Gmo High 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 High Correlation With Market

Weak diversification

The correlation between Gmo High Yield and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gmo High Yield 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 High Yield. 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 Gmo Mutual Fund

  0.67GUGAX Gmo E PlusPairCorr
  0.74GUSTX Gmo TreasuryPairCorr
  0.94GWOAX Gmo Global DevelopedPairCorr
  0.86GIEAX Gmo International EquityPairCorr
  0.77GIMFX Gmo ImplementationPairCorr
  0.82GIOTX Gmo InternationalPairCorr
  0.83GMADX Gmo Global EquityPairCorr
  0.7GMAHX Gmo Usonian JapanPairCorr
  0.7GMAKX Gmo Usonian JapanPairCorr
  0.94GMDFX Gmo Emerging CountryPairCorr
  0.94GMCDX Gmo Emerging NtryPairCorr
  0.76GMCFX Gmo International EquityPairCorr
  0.93GMGEX Gmo Global EquityPairCorr
  0.71GMIIX Gmo Usonian JapanPairCorr
  0.87GMODX Gmo Opportunistic IncomePairCorr
  0.87GMOHX Gmo Opportunistic IncomePairCorr
  0.76GMOIX Gmo International EquityPairCorr
  0.88GMOLX Gmo Opportunistic IncomePairCorr
  0.9GMOOX Gmo Global AssetPairCorr
  0.94GMOQX Gmo Emerging CountryPairCorr
  0.76GMOUX Gmo International EquityPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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