Gmo Alternative Correlations

Mutual Funds . USA . 
Fund . Gmo Alternative Allocation
GAAGX Fund  USD 17.10  0.03  0.18%   
The current 90-days correlation between Gmo Alternative Allo and Dodge International Stock is 0.47 (i.e., Very weak diversification). The correlation of Gmo Alternative 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 Alternative Correlation With Market

Good diversification

The correlation between Gmo Alternative Allocation and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gmo Alternative Allocation 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 Alternative Allocation. 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 price.

Moving together with Gmo Mutual Fund

  0.68GUGAX Gmo E PlusPairCorr
  0.79GUSOX Gmo TrustPairCorr
  0.82GUSTX Gmo TreasuryPairCorr
  0.8GEACX Gmo TrustPairCorr
  0.73GEMEX Gmo Emerging MarketsPairCorr
  0.73GEMMX Gmo Emerging MarketsPairCorr
  0.74GEMNX Gmo Emerging MarketsPairCorr
  0.77GWOAX Gmo Global DevelopedPairCorr
  0.76GHVIX Gmo High YieldPairCorr
  0.7GIEAX Gmo International EquityPairCorr
  0.67GIOTX Gmo InternationalPairCorr
  0.71GMAWX Gmo Small CapPairCorr
  0.71GMAYX Gmo Small CapPairCorr
  0.73GMAZX Gmo InternationalPairCorr
  0.73GMBCX Gmo InternationalPairCorr
  0.74GMADX Gmo Global EquityPairCorr
  0.65GMAHX Gmo Usonian JapanPairCorr
  0.65GMAKX Gmo Usonian JapanPairCorr
  0.74GMAQX Gmo Emerging MarketsPairCorr
  0.74GMAUX Gmo Emerging MarketsPairCorr
  0.83GMDFX Gmo Emerging CountryPairCorr
  0.83GMCDX Gmo Emerging NtryPairCorr
  0.66GMCFX Gmo International EquityPairCorr
  0.77GMCQX Gmo Equity AllocationPairCorr
  0.74GMEMX Gmo Emerging MarketsPairCorr
  0.74GMGEX Gmo Global EquityPairCorr
  0.65GMIIX Gmo Usonian JapanPairCorr
  0.74GMODX Gmo Opportunistic IncomePairCorr
  0.73GMOEX Gmo Emerging MarketsPairCorr
  0.66GMOIX Gmo International EquityPairCorr
  0.79GMOOX Gmo Global AssetPairCorr
  0.84PPADX Gmo TrustPairCorr
  0.65GMOUX Gmo International EquityPairCorr
  0.79GMOWX Gmo ResourcesPairCorr
  0.8GMOYX Gmo TrustPairCorr
  0.75GMOZX Gmo High YieldPairCorr
  0.77GMUEX Gmo Equity AllocationPairCorr
  0.76GMWAX Gmo Global AssetPairCorr

Moving against Gmo Mutual Fund

  0.36GMAEX Gmo Quality CyclicalsPairCorr
  0.36GMAOX Gmo TrustPairCorr

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 Alternative 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 Alternative'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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