Gmo Benchmark-free Correlations

Mutual Funds . USA . 
Fund . Gmo Benchmark Free Allocation
GBMSX Fund  USD 27.96  0.03  0.11%   
The current 90-days correlation between Gmo Benchmark Free and Pace Municipal Fixed is 0.18 (i.e., Average diversification). The correlation of Gmo Benchmark-free 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 Benchmark-free Correlation With Market

Poor diversification

The correlation between Gmo Benchmark Free Allocation and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gmo Benchmark Free 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 Benchmark Free 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 state.

Moving together with Gmo Mutual Fund

  0.76GUGAX Gmo E PlusPairCorr
  0.98GUSOX Gmo TrustPairCorr
  0.92GUSTX Gmo TreasuryPairCorr
  0.93GEACX Gmo TrustPairCorr
  0.97GEMMX Gmo Emerging MarketsPairCorr
  0.97GEMNX Gmo Emerging MarketsPairCorr
  0.98GWOAX Gmo Global DevelopedPairCorr
  0.98GHVIX Gmo High YieldPairCorr
  0.98GIEAX Gmo International EquityPairCorr
  0.94GMAWX Gmo Small CapPairCorr
  0.94GMAYX Gmo Small CapPairCorr
  0.98GMAZX Gmo InternationalPairCorr
  0.98GMBCX Gmo InternationalPairCorr
  0.99GMADX Gmo Global EquityPairCorr
  0.95GMAKX Gmo Usonian JapanPairCorr
  0.97GMAQX Gmo Emerging MarketsPairCorr
  0.98GMDFX Gmo Emerging CountryPairCorr
  0.98GMCDX Gmo Emerging NtryPairCorr
  0.97GMCQX Gmo Equity AllocationPairCorr
  0.97GMEMX Gmo Emerging MarketsPairCorr
  0.95GMIIX Gmo Usonian JapanPairCorr
  0.92GMODX Gmo Opportunistic IncomePairCorr
  0.97GMOEX Gmo Emerging MarketsPairCorr
  0.96GMOIX Gmo International EquityPairCorr
  0.96GMOUX Gmo International EquityPairCorr
  0.94GMOWX Gmo ResourcesPairCorr
  0.99GMWAX Gmo Global AssetPairCorr
  0.99GMWRX Gmo Global AssetPairCorr
  0.93GOFIX Gmo ResourcesPairCorr
  0.94GOVIX Gmo ResourcesPairCorr
  0.76GPBFX Gmo E PlusPairCorr
  0.97GQESX Gmo Quality FundPairCorr
  0.97GQETX Gmo Quality FundPairCorr
  0.97GQLOX Gmo Quality FundPairCorr
  0.83GAAGX Gmo Alternative AlloPairCorr
  0.94GAAHX Gmo ResourcesPairCorr
  0.84GAAKX Gmo Alternative AlloPairCorr
  0.84GAAVX Gmo Alternative AlloPairCorr

Moving against Gmo Mutual Fund

  0.59GMAEX Gmo Quality CyclicalsPairCorr
  0.59GMAOX Gmo TrustPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Gmo Mutual Fund performing well and Gmo Benchmark-free 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 Benchmark-free'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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