Gmo Global Correlations

Mutual Funds . USA . 
Fund . Gmo Global Developed
GWOAX Fund  USD 26.20  0.08  0.30%   
The current 90-days correlation between Gmo Global Developed and T Rowe Price is 0.86 (i.e., Very poor 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

Poor diversification

The correlation between Gmo Global Developed and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gmo Global 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 Global 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 nation.

Moving together with GMO Mutual Fund

  0.67GUGAX Gmo E PlusPairCorr
  0.65GUSOX Gmo TrustPairCorr
  0.68GUSTX Gmo TreasuryPairCorr
  0.75GEMEX Gmo Emerging MarketsPairCorr
  0.75GEMMX Gmo Emerging MarketsPairCorr
  0.75GEMNX Gmo Emerging MarketsPairCorr
  0.75IOVFX Gmo InternationalPairCorr
  0.92GHVIX Gmo High YieldPairCorr
  0.8GIEAX Gmo International EquityPairCorr
  0.73GIMFX Gmo ImplementationPairCorr
  0.79GIOTX Gmo InternationalPairCorr
  0.75GMAZX Gmo InternationalPairCorr
  0.93GMADX Gmo Global EquityPairCorr
  0.7GMAEX Gmo Quality CyclicalsPairCorr
  0.61GMAHX Gmo Usonian JapanPairCorr
  0.61GMAKX Gmo Usonian JapanPairCorr
  0.7GMAOX Gmo TrustPairCorr
  0.86GMDFX Gmo Emerging CountryPairCorr
  0.86GMCDX Gmo Emerging NtryPairCorr
  0.81GMCFX Gmo International EquityPairCorr
  0.74GMEMX Gmo Emerging MarketsPairCorr
  1.0GMGEX Gmo Global EquityPairCorr
  0.63GMIIX Gmo Usonian JapanPairCorr
  0.67GMODX Gmo Opportunistic IncomePairCorr
  0.75GMOEX Gmo Emerging MarketsPairCorr
  0.67GMOHX Gmo Opportunistic IncomePairCorr
  0.81GMOIX Gmo International EquityPairCorr
  0.66GMOLX Gmo Opportunistic IncomePairCorr
  0.92GMOOX Gmo Global AssetPairCorr
  0.64PPADX Gmo TrustPairCorr
  0.64PPAEX Gmo TrustPairCorr
  0.64PPAJX Gmo Opportunistic ValuePairCorr
  0.86GMOQX Gmo Emerging CountryPairCorr

Moving against GMO Mutual Fund

  0.32GMAWX Gmo Small CapPairCorr
  0.32GMAYX Gmo Small CapPairCorr

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 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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