Gmo Alternative Correlations

Mutual Funds . USA . 
Fund . Gmo Alternative Allocation
GAAGX Fund  USD 18.95  0.05  0.26%   
The current 90-days correlation between Gmo Alternative Allo and Ab Centrated Growth is 0.03 (i.e., Significant 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

Weak diversification

The correlation between Gmo Alternative Allocation 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 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 rate.

Moving together with Gmo Mutual Fund

  0.82GUSTX Gmo TreasuryPairCorr
  0.78GEACX Gmo TrustPairCorr
  0.79GWOAX Gmo Global DevelopedPairCorr
  0.84IOVFX Gmo InternationalPairCorr
  0.77GHVIX Gmo High YieldPairCorr
  0.77GIEAX Gmo International EquityPairCorr
  0.93GIMFX Gmo ImplementationPairCorr
  0.8GIOTX Gmo InternationalPairCorr
  0.85GMAZX Gmo InternationalPairCorr
  0.62GMBCX Gmo InternationalPairCorr
  0.78GMADX Gmo Global EquityPairCorr
  0.61GMCDX Gmo Emerging NtryPairCorr
  0.76GMCFX Gmo International EquityPairCorr
  0.78GMGEX Gmo Global EquityPairCorr
  0.88GMODX Gmo Opportunistic IncomePairCorr
  0.88GMOHX Gmo Opportunistic IncomePairCorr
  0.76GMOIX Gmo International EquityPairCorr
  0.87GMOLX Gmo Opportunistic IncomePairCorr
  0.87GMOOX Gmo Global AssetPairCorr
  0.61GMOQX Gmo Emerging CountryPairCorr
  0.76GMOUX Gmo International EquityPairCorr
  0.78GMOWX Gmo ResourcesPairCorr

Related Correlations Analysis


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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