Gmo Global Correlations

Mutual Funds . USA . 
Fund . Gmo Global Asset
GMWAX Fund  USD 33.31  0.10  0.30%   
The current 90-days correlation between Gmo Global Asset and Ashmore Emerging Markets is 0.18 (i.e., Average diversification). The correlation of Gmo Global 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 Global Correlation With Market

Significant diversification

The correlation between Gmo Global Asset and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gmo Global Asset 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 Global Asset. 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 nation.

Moving together with Gmo Mutual Fund

  0.97RIRAX Capital Income BuilderPairCorr
  0.96RIREX Capital Income BuilderPairCorr
  0.97RIRCX Capital Income BuilderPairCorr
  0.96RIRFX Capital Income BuilderPairCorr
  0.97CIRCX Capital Income BuilderPairCorr
  0.97CIREX Capital Income BuilderPairCorr
  0.97RIRBX Capital Income BuilderPairCorr
  0.98CAIFX Capital Income BuilderPairCorr
  0.96CIRFX Capital Income BuilderPairCorr
  0.96CIRAX Capital Income BuilderPairCorr
  0.98VGTSX Vanguard Total InterPairCorr
  0.98VTIAX Vanguard Total InterPairCorr
  0.62HTD John Hancock TaxPairCorr
  0.65MCD McDonaldsPairCorr
  0.89JNJ Johnson JohnsonPairCorr
  0.66IBM International BusinessPairCorr
  0.62PG Procter GamblePairCorr
  0.85GE GE AerospacePairCorr
  0.73VZ Verizon CommunicationsPairCorr

Moving against Gmo Mutual Fund

  0.41MSFT MicrosoftPairCorr
  0.39CAT CaterpillarPairCorr
  0.37AXP American ExpressPairCorr
  0.35HPQ HP IncPairCorr
  0.32BAC Bank of AmericaPairCorr

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   
PSBMX
+ 0.99
GMAPX
CIPNX
+ 0.97
GMAPX
CIPNX
+ 0.97
PSBMX
VSFSX
+ 0.75
PSBMX
VSFSX
+ 0.74
GMAPX
VSFSX
+ 0.73
CIPNX
  
High negative correlations   
PSBMX
- 0.23
DFUKX
GMAPX
- 0.21
DFUKX
CIPNX
- 0.12
DFUKX
VSFSX
- 0.09
DFUKX

Risk-Adjusted Indicators

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