Global Absolute Correlations

Mutual Funds . USA . 
Fund . Global Absolute Return
JHAIX Fund  USD 10.40  0.01  0.1%   
The current 90-days correlation between Global Absolute Return and Touchstone Ultra Short is 0.06 (i.e., Significant 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

Very weak diversification

The correlation between Global Absolute Return and DJI is 0.44 (i.e., Very 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

  0.77JQLMX Multimanager LifestylePairCorr
  0.87JQLCX Multimanager LifestylePairCorr
  0.85JRLDX Retirement Living ThroughPairCorr
  0.85JRLFX Multi Index 2010PairCorr
  0.85JRLIX Retirement Living ThroughPairCorr
  0.85JRLHX Retirement Living ThroughPairCorr
  0.85JRLKX Multi Index 2015PairCorr
  0.85JRLLX Retirement Living ThroughPairCorr
  0.84JRLOX Retirement Living ThroughPairCorr
  0.83JRLPX Multi Index 2020PairCorr
  0.73JAAIX Alternative AssetPairCorr
  0.73JAAPX Alternative AssetPairCorr
  0.81JRTBX Retirement Living ThroughPairCorr
  0.83JRTAX Retirement Living ThroughPairCorr
  0.74JAARX Alternative AssetPairCorr
  0.81JRTDX Multi Index 2025PairCorr
  0.73JRTGX Retirement Living ThroughPairCorr
  0.81JRTFX Retirement Living ThroughPairCorr
  0.73JAASX Alternative AssetPairCorr
  0.73JRTIX Multi Index 2030PairCorr
  0.67JRTKX 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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