Gmo Emerging Correlations

GMOQX Fund

USD 19.69 0.09 0.46%

The current 90-days correlation between Gmo Emerging Country and Vy Clarion Real is 0.12 (i.e., Average diversification). The correlation of Gmo Emerging 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 Emerging Correlation With Market

Significant diversification

The correlation between Gmo Emerging Country and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gmo Emerging Country 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 Emerging Country. 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 producer price index.

Moving together with Gmo Mutual Fund

0.77	GUGAX	Gmo E Plus	Pair Corr
0.93	GUSOX	Gmo Trust	Pair Corr
0.81	GEACX	Gmo Trust Steady Growth	Pair Corr
0.67	GEMEX	Gmo Emerging Markets	Pair Corr
0.67	GEMMX	Gmo Emerging Markets	Pair Corr
0.63	GEMNX	Gmo Emerging Markets	Pair Corr
0.84	IOVFX	Gmo International	Pair Corr
0.74	GHVIX	Gmo High Yield	Pair Corr
0.65	GIMFX	Gmo Implementation	Pair Corr
0.68	GMAWX	Gmo Small Cap	Pair Corr
0.68	GMAYX	Gmo Small Cap	Pair Corr
0.84	GMAZX	Gmo International	Pair Corr
0.82	GMAEX	Gmo Quality Cyclicals	Pair Corr
0.82	GMAOX	Gmo Trust	Pair Corr
0.74	GMAQX	Gmo Emerging Markets	Pair Corr
0.74	GMAUX	Gmo Emerging Markets	Pair Corr
1.0	GMDFX	Gmo Emerging Country	Pair Corr
0.96	GMCDX	Gmo Emerging Ntry	Pair Corr
0.82	GMCQX	Gmo Equity Allocation	Pair Corr
0.63	GMEMX	Gmo Emerging Markets	Pair Corr
0.65	GMOEX	Gmo Emerging Markets	Pair Corr
0.79	PPAJX	Gmo Opportunistic Value	Pair Corr
0.81	GMOWX	Gmo Resources Steady Growth	Pair Corr

Moving against Gmo Mutual Fund

0.41

GMOHX

Gmo Opportunistic Income

Pair Corr

Related Correlations Analysis

	ICRPX	FREAX	RRRZX	DREYX	FORFX	TIREX	JAJLX
ICRPX		0.91	0.91	0.98	-0.47	0.98	0.79	ICRPX
FREAX	0.91		0.99	0.91	-0.42	0.91	0.92	FREAX
RRRZX	0.91	0.99		0.91	-0.42	0.91	0.91	RRRZX
DREYX	0.98	0.91	0.91		-0.44	0.97	0.8	DREYX
FORFX	-0.47	-0.42	-0.42	-0.44		-0.36	-0.07	FORFX
TIREX	0.98	0.91	0.91	0.97	-0.36		0.85	TIREX
JAJLX	0.79	0.92	0.91	0.8	-0.07	0.85		JAJLX
	ICRPX	FREAX	RRRZX	DREYX	FORFX	TIREX	JAJLX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

RRRZX	+ 0.99	FREAX
DREYX	+ 0.98	ICRPX
TIREX	+ 0.98	ICRPX
TIREX	+ 0.97	DREYX
JAJLX	+ 0.92	FREAX
FREAX	+ 0.91	ICRPX

High negative correlations

FORFX	- 0.47	ICRPX
FORFX	- 0.44	DREYX
FORFX	- 0.42	RRRZX
FORFX	- 0.42	FREAX
TIREX	- 0.36	FORFX
JAJLX	- 0.07	FORFX

Risk-Adjusted Indicators

There is a big difference between Gmo Mutual Fund performing well and Gmo Emerging 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 Emerging'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
ICRPX	0.76	(0.11)	(0.49)	1.27	(1.52)	5.17
FREAX	0.73	(0.13)	(1.68)	1.17	(1.40)	5.18
RRRZX	0.81	(0.16)	(5.23)	1.35	(1.62)	6.80
DREYX	0.84	(0.14)	(0.45)	1.34	(1.88)	5.63
FORFX	0.07	0.00	(0.11)	0.10	0.00	1.44
TIREX	0.79	(0.10)	(0.40)	1.29	(1.82)	5.47
JAJLX	0.73	(0.10)	(1.58)	1.21	(1.49)	5.48

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC