Gmo Alternative Correlations

Mutual Funds . USA . 
Fund . Gmo Alternative Allocation
GAAKX Fund  USD 17.40  0.04  0.23%   
The current 90-days correlation between Gmo Alternative Allo and Siit High Yield is 0.31 (i.e., 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

Poor diversification

The correlation between Gmo Alternative Allocation and DJI is 0.6 (i.e., Poor 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 industry.

Moving together with Gmo Mutual Fund

  0.73GUGAX Gmo E PlusPairCorr
  0.8GUSOX Gmo TrustPairCorr
  0.84GUSTX Gmo TreasuryPairCorr
  0.8GEACX Gmo TrustPairCorr
  0.75GEMEX Gmo Emerging MarketsPairCorr
  0.75GEMMX Gmo Emerging MarketsPairCorr
  0.75GEMNX Gmo Emerging MarketsPairCorr
  0.75GWOAX Gmo Global DevelopedPairCorr
  0.75GHVIX Gmo High YieldPairCorr
  0.73GIEAX Gmo International EquityPairCorr
  0.71GIOTX Gmo InternationalPairCorr
  0.76GMAWX Gmo Small CapPairCorr
  0.72GMAYX Gmo Small CapPairCorr
  0.72GMAZX Gmo InternationalPairCorr
  0.75GMBCX Gmo InternationalPairCorr
  0.77GMADX Gmo Global EquityPairCorr
  0.7GMAHX Gmo Usonian JapanPairCorr
  0.7GMAKX Gmo Usonian JapanPairCorr
  0.73GMAQX Gmo Emerging MarketsPairCorr
  0.75GMAUX Gmo Emerging MarketsPairCorr
  0.81GMDFX Gmo Emerging CountryPairCorr
  0.81GMCDX Gmo Emerging NtryPairCorr
  0.69GMCFX Gmo International EquityPairCorr
  0.75GMCQX Gmo Equity AllocationPairCorr
  0.73GMEMX Gmo Emerging MarketsPairCorr
  0.77GMGEX Gmo Global EquityPairCorr
  0.7GMIIX Gmo Usonian JapanPairCorr
  0.76GMODX Gmo Opportunistic IncomePairCorr
  0.73GMOEX Gmo Emerging MarketsPairCorr
  0.69GMOIX Gmo International EquityPairCorr
  0.79GMOOX Gmo Global AssetPairCorr
  0.85PPADX Gmo TrustPairCorr
  0.69GMOUX Gmo International EquityPairCorr
  0.75GMOWX Gmo ResourcesPairCorr
  0.8GMOYX Gmo TrustPairCorr
  0.77GMOZX Gmo High YieldPairCorr
  0.78GMUEX Gmo Equity AllocationPairCorr
  0.79GMWAX Gmo Global AssetPairCorr

Moving against Gmo Mutual Fund

  0.38GMAEX Gmo Quality CyclicalsPairCorr
  0.38GMAOX 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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