Gmo International Correlations

Mutual Funds USA . 
Fund . Gmo International Developed
GIOTX Fund  USD 19.20  0.20  1.03%   
The current 90-days correlation between Gmo International and Gmo Emerging Ntry is 0.37 (i.e., Weak diversification). The correlation of Gmo International 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 International Correlation With Market

Very weak diversification

The correlation between Gmo International Developed and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gmo International Developed 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 International Developed. 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 estimate.

Moving together with Gmo Mutual Fund

  0.94GUGAX Gmo E PlusPairCorr
  0.92GUSTX Gmo TreasuryPairCorr
  0.77GWOAX Gmo Global DevelopedPairCorr
  0.84GHVIX Gmo High YieldPairCorr
  1.0GIEAX Gmo International EquityPairCorr
  0.79GMADX Gmo Global EquityPairCorr
  0.94GPBFX Gmo E PlusPairCorr
  0.83GAAKX Gmo Alternative AlloPairCorr
  0.87GABFX Gmo Asset AllocationPairCorr
  0.99GTMIX Gmo Tax ManagedPairCorr
  1.0DOXFX Dodge Cox InternationalPairCorr
  0.98OANIX Oakmark InternationalPairCorr
  0.98DODFX Dodge International StockPairCorr
  0.96OAKIX Oakmark InternationalPairCorr
  0.98OAYIX Oakmark InternationalPairCorr
  0.98OAZIX Oakmark InternationalPairCorr
  0.99FINVX Fidelity Series IntePairCorr
  0.92VTRIX Vanguard InternationalPairCorr
  0.99RRIGX T Rowe PricePairCorr
  0.87BRUFX Bruce Fund BrucePairCorr
  0.85KF Korea ClosedPairCorr
  0.89SGDLX Sprott Gold EquityPairCorr
  0.91GIOIX Guggenheim Macro OppPairCorr

Moving against Gmo Mutual Fund

  0.82GMAWX Gmo Small CapPairCorr
  0.82GSBGX Gmo Small CapPairCorr
  0.65GMOWX Gmo ResourcesPairCorr
  0.65GOFIX Gmo ResourcesPairCorr
  0.43GMAUX Gmo Emerging MarketsPairCorr
  0.42GMAQX Gmo Emerging MarketsPairCorr
  0.66SPGSX State Street PremierPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

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