Gmo Opportunistic Correlations

Mutual Funds USA . 
Fund . Gmo Opportunistic Income
GMOHX Fund  USD 24.14  0.01  0.04%   
The current 90-days correlation between Gmo Opportunistic Income and Kinetics Global Fund is 0.18 (i.e., Average diversification). The correlation of Gmo Opportunistic 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 Opportunistic Correlation With Market

Significant diversification

The correlation between Gmo Opportunistic Income and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gmo Opportunistic Income 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 Opportunistic Income. 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 rate.

Moving against Gmo Mutual Fund

  0.45GMDFX Gmo Emerging CountryPairCorr
  0.4IOVFX Gmo InternationalPairCorr
  0.39GMAZX Gmo InternationalPairCorr
  0.37GMCDX Gmo Emerging NtryPairCorr
  0.34GUSOX Gmo TrustPairCorr
  0.34GEMEX Gmo Emerging MarketsPairCorr
  0.34GEMMX Gmo Emerging MarketsPairCorr
  0.34GEMNX Gmo Emerging MarketsPairCorr
  0.34GMEMX Gmo Emerging MarketsPairCorr
  0.31GEACX Gmo Trust Steady GrowthPairCorr
  0.53GAAGX Gmo Alternative AlloPairCorr
  0.53GAAKX Gmo Alternative AlloPairCorr
  0.52GAAVX Gmo Alternative AlloPairCorr
  0.47GMOYX Gmo TrustPairCorr
  0.45GMOQX Gmo Emerging CountryPairCorr
  0.34GMOEX Gmo Emerging MarketsPairCorr
  0.34GOFIX Gmo Resources Steady GrowthPairCorr
  0.34GOVIX Gmo Resources Steady GrowthPairCorr
  0.31GMOWX Gmo Resources Steady GrowthPairCorr
  0.31GMUEX Gmo Equity AllocationPairCorr
  0.31GAAHX Gmo Resources Steady GrowthPairCorr

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   
MGKAX
+ 0.95
CNGLX
BXFIX
+ 0.8
KGLCX
MGGNX
+ 0.78
CNGLX
MGGNX
+ 0.72
ANAZX
MGGNX
+ 0.7
MGKAX
ANAZX
+ 0.6
CNGLX
  
High negative correlations   
BXFIX
- 0.13
MGKAX
ANAZX
- 0.11
KGLCX
BXFIX
- 0.05
CNGLX

Risk-Adjusted Indicators

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