Government Street Correlations

Mutual Funds . USA . 
Fund . Government Street Mid Cap
GVMCX Fund  USD 44.43  0.08  0.18%   
The current 90-days correlation between Government Street Mid and Government Street Equity is 0.84 (i.e., Very poor diversification). The correlation of Government Street 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.

Government Street Correlation With Market

Modest diversification

The correlation between Government Street Mid Cap and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Government Street Mid Cap 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 Government Street Mid Cap. 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 main economic indicators.

Moving together with Government Mutual Fund

  0.62GVEQX Government Street EquityPairCorr
  0.81ALABX ALABAMA TAX FREEPairCorr
  0.73VIMAX Vanguard Mid CapPairCorr
  0.73VIMSX Vanguard Mid CapPairCorr
  0.73VMCPX Vanguard Mid CapPairCorr
  0.73VMCIX Vanguard Mid CapPairCorr
  0.81GCAVX Gmo Small CapPairCorr
  0.74GQLOX Gmo Quality FundPairCorr
  0.7GHVIX Gmo High YieldPairCorr
  0.85GMCQX Gmo Equity AllocationPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Government Mutual Fund performing well and Government Street 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 Government Street'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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