Gotham Defensive Correlations

Mutual Funds . USA . 
Fund . Gotham Defensive Long
GDLFX Fund  USD 19.72  0.05  0.25%   
The current 90-days correlation between Gotham Defensive Long and Gamco Global Gold is 0.04 (i.e., Significant diversification). The correlation of Gotham Defensive 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.

Gotham Defensive Correlation With Market

Good diversification

The correlation between Gotham Defensive Long and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gotham Defensive Long 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 Gotham Defensive Long. 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 census.

Moving together with Gotham Mutual Fund

  0.8GCHDX Gotham Hedged EPairCorr
  0.94GVALX Gotham Large ValuePairCorr
  0.96GEFPX Gotham Enhanced 500PairCorr
  0.82GENIX Gotham Enhanced ReturnPairCorr
  0.96GINDX Gotham Index PlusPairCorr
  0.96GNNDX Gotham Index PlusPairCorr
  0.79GONIX Gotham NeutralPairCorr
  0.81GARIX Gotham Absolute ReturnPairCorr
  0.8GSPFX Gotham Enhanced SpPairCorr
  0.81GTRFX Gotham Total ReturnPairCorr
  0.65NLSCX Neuberger Berman LongPairCorr
  0.83NLSAX Neuberger Berman LongPairCorr
  0.73NLSIX Neuberger Berman LongPairCorr
  0.96QLERX Aqr Long ShortPairCorr
  0.85DHLSX Diamond Hill LongPairCorr
  0.96DIAYX Diamond Hill LongPairCorr
  0.96DIAMX Diamond Hill LongPairCorr
  0.8ASLAX Ab Select LongshortPairCorr
  0.62MIDSX Midas Fund MidasPairCorr
  0.66FGPMX Franklin Gold AndPairCorr
  0.66FKRCX Franklin Gold PreciousPairCorr
  0.79VWINX Vanguard Wellesley IncomePairCorr
  0.76SMHYX Aim Counselor SeriesPairCorr
  0.85CFWCX Calvert Global WaterPairCorr
  0.95MHYIX Mainstay High YieldPairCorr
  0.89USDIX Ubs Ultra ShortPairCorr
  0.63GOPCX Aberdeen China OpptyPairCorr
  0.83SWCGX Schwab MarkettrackPairCorr
  0.83PPNMX Smallcap GrowthPairCorr
  0.95MAANX Mutual Of AmericaPairCorr
  0.94FSELX Fidelity Select SemiPairCorr
  0.93FMSDX Fidelity Advisor MultiPairCorr

Moving against Gotham Mutual Fund

  0.61PWLMX Pimco Rae WorldwidePairCorr
  0.55PWLIX Pimco Rae WorldwidePairCorr
  0.48OAAIX Oppenheimer AggrssvPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Gotham Mutual Fund performing well and Gotham Defensive 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 Gotham Defensive'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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