Global Hard Correlations

Mutual Funds . USA . 
Fund . Global Hard Assets
GHAYX Fund  USD 42.49  0.04  0.09%   
The current 90-days correlation between Global Hard Assets and Columbia Moderate Growth is 0.41 (i.e., Very weak diversification). The correlation of Global Hard 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.

Global Hard Correlation With Market

Modest diversification

The correlation between Global Hard Assets and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Hard Assets 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 Global Hard Assets. 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 manufacturing.

Moving together with Global Mutual Fund

  0.97EMBAX Unconstrained EmergingPairCorr
  0.97EMBYX Unconstrained EmergingPairCorr
  0.97EMBUX Unconstrained EmergingPairCorr
  0.89EMRIX Emerging MarketsPairCorr
  0.89EMRZX Vaneck Emerging MarketsPairCorr
  0.89EMRYX Emerging MarketsPairCorr
  0.7INIVX International InvestorsPairCorr
  0.7INIYX International InvestorsPairCorr
  0.7INIIX International InvestorsPairCorr
  1.0GHAIX Global Hard AssetsPairCorr
  1.0GHAAX Global Hard AssetsPairCorr
  0.84CMCAX Cm Modity IndexPairCorr
  0.85CMCYX Cm Modity IndexPairCorr
  0.85COMIX Cm Modity IndexPairCorr
  0.91MWMIX Vaneck Morningstar WidePairCorr
  0.91MWMZX Vaneck Morningstar WidePairCorr
  0.69IIGCX International InvestorsPairCorr
  0.89GBFAX Emerging MarketsPairCorr
  0.98TRNEX T Rowe PricePairCorr
  0.91VMIAX Vanguard Materials IndexPairCorr
  0.98PRNEX T Rowe PricePairCorr
  0.93GEACX Gmo TrustPairCorr
  0.93GAAHX Gmo ResourcesPairCorr
  0.93GMOWX Gmo ResourcesPairCorr
  0.92FMFEX Materials PortfolioPairCorr
  0.91FMFAX Materials PortfolioPairCorr
  0.92FMFCX Materials PortfolioPairCorr
  0.92PFN Pimco Income StrategyPairCorr
  0.91CIF Mfs Intermediate HighPairCorr
  0.86PCF Putnam High IncomePairCorr
  0.92AAAGX Thrivent Large CapPairCorr
  0.88RSMOX Victory Rs MidPairCorr
  0.92RSGRX Victory Rs GrowthPairCorr
  0.85JSCRX Prudential Jennison SmallPairCorr

Moving against Global Mutual Fund

  0.6XNBHX Neuberger Berman IntPairCorr
  0.55XDSMX Dreyfus StrategicPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Global Mutual Fund performing well and Global Hard 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 Global Hard'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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