Global Absolute Correlations

Mutual Funds . USA . 
Fund . Global Absolute Return
JHAIX Fund  USD 10.74  0.09  0.85%   
The current 90-days correlation between Global Absolute Return and Angel Oak Multi Strategy is 0.39 (i.e., Weak diversification). The correlation of Global Absolute 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.

Global Absolute Correlation With Market

Weak diversification

The correlation between Global Absolute Return and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Absolute Return 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 Global Absolute Return. 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 gross domestic product.

Moving together with Global Mutual Fund

  0.89JQLMX Multimanager LifestylePairCorr
  0.83JQLBX Multimanager LifestylePairCorr
  0.71JQLAX Multimanager LifestylePairCorr
  0.93JQLCX Multimanager LifestylePairCorr
  0.77JQLGX Multimanager LifestylePairCorr
  0.7JRETX J Hancock IiPairCorr
  0.93JRLDX Retirement Living ThroughPairCorr
  0.93JRLFX Multi Index 2010PairCorr
  0.92JRLIX Retirement Living ThroughPairCorr
  0.93JRLHX Retirement Living ThroughPairCorr
  0.92JRLKX Multi Index 2015PairCorr
  0.92JRLLX Retirement Living ThroughPairCorr
  0.91JRLOX Retirement Living ThroughPairCorr
  0.77JRLQX Retirement Living ThroughPairCorr
  0.91JRLPX Multi Index 2020PairCorr
  0.77JRLUX Multi Index 2045PairCorr
  0.74JRLWX Retirement Living ThroughPairCorr
  0.77JRLVX Retirement Living ThroughPairCorr
  0.74JRLZX Retirement Living ThroughPairCorr
  0.7JROUX J Hancock IiPairCorr
  0.74JRODX J Hancock IiPairCorr
  0.69JAAFX Jhancock Multi IndexPairCorr
  0.69JAAJX Jhancock Multi IndexPairCorr
  0.62JAAIX Alternative AssetPairCorr
  0.7JAAKX Jhancock Multi IndexPairCorr
  0.65JAAPX Alternative AssetPairCorr
  0.9JRTBX Retirement Living ThroughPairCorr
  0.91JRTAX Retirement Living ThroughPairCorr
  0.63JAARX Alternative AssetPairCorr
  0.9JRTDX Multi Index 2025PairCorr
  0.87JRTGX Retirement Living ThroughPairCorr
  0.9JRTFX Retirement Living ThroughPairCorr
  0.63JAASX Alternative AssetPairCorr
  0.87JRTIX Multi Index 2030PairCorr
  0.68JAAVX Jhancock MultimanagerPairCorr
  0.84JRTKX Retirement Living ThroughPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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