Gmo High Correlations

Mutual Funds . USA . 
Fund . Gmo High Yield
GHVIX Fund  USD 17.57  0.02  0.11%   
The current 90-days correlation between Gmo High Yield and Putnam Global Financials is 0.72 (i.e., Poor diversification). The correlation of Gmo High 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 High Correlation With Market

Very good diversification

The correlation between Gmo High Yield and DJI is -0.23 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gmo High Yield 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 High Yield. 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 gross domestic product.

Moving together with Gmo Mutual Fund

  0.72GUGAX Gmo E PlusPairCorr
  0.96GUSOX Gmo TrustPairCorr
  0.9GUSTX Gmo TreasuryPairCorr
  0.93GEACX Gmo TrustPairCorr
  0.98GEMEX Gmo Emerging MarketsPairCorr
  0.98GEMMX Gmo Emerging MarketsPairCorr
  0.98GEMNX Gmo Emerging MarketsPairCorr
  0.99GWOAX Gmo Global DevelopedPairCorr
  0.97IOVFX Gmo InternationalPairCorr
  0.98GIEAX Gmo International EquityPairCorr
  0.98GIMFX Gmo ImplementationPairCorr
  0.96GIOTX Gmo InternationalPairCorr
  0.94GMAWX Gmo Small CapPairCorr
  0.94GMAYX Gmo Small CapPairCorr
  0.97GMAZX Gmo InternationalPairCorr
  0.97GMBCX Gmo InternationalPairCorr
  0.98GMADX Gmo Global EquityPairCorr
  0.95GMAHX Gmo Usonian JapanPairCorr
  0.95GMAKX Gmo Usonian JapanPairCorr
  0.98GMAQX Gmo Emerging MarketsPairCorr
  0.98GMAUX Gmo Emerging MarketsPairCorr
  0.97GMDFX Gmo Emerging CountryPairCorr
  0.97GMCDX Gmo Emerging NtryPairCorr
  0.96GMCFX Gmo International EquityPairCorr
  0.98GMCQX Gmo Equity AllocationPairCorr
  0.98GMEMX Gmo Emerging MarketsPairCorr
  0.98GMGEX Gmo Global EquityPairCorr
  0.95GMIIX Gmo Usonian JapanPairCorr
  0.91GMODX Gmo Opportunistic IncomePairCorr
  0.98GMOEX Gmo Emerging MarketsPairCorr
  0.91GMOHX Gmo Opportunistic IncomePairCorr
  0.96GMOIX Gmo International EquityPairCorr
  0.91GMOLX Gmo Opportunistic IncomePairCorr
  0.99GMOOX Gmo Global AssetPairCorr
  0.97PPADX Gmo TrustPairCorr
  0.96PPAEX Gmo TrustPairCorr
  0.97PPAJX Gmo Opportunistic ValuePairCorr

Moving against Gmo Mutual Fund

  0.62GMAEX Gmo Quality CyclicalsPairCorr
  0.62GMAOX Gmo TrustPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
FNPIX
+ 0.99
PSSRX
ICFAX
+ 0.97
PSSRX
FIDAX
+ 0.97
PSSRX
ICFAX
+ 0.96
FNPIX
FIDAX
+ 0.96
FNPIX
FIDAX
+ 0.96
ICFAX
  
High negative correlations   
XFINX
- 0.56
PGFMX
FIDAX
- 0.39
XFINX
ICFAX
- 0.37
XFINX
PSSRX
- 0.37
XFINX
FNPIX
- 0.35
XFINX

Risk-Adjusted Indicators

There is a big difference between Gmo Mutual Fund performing well and Gmo High 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 High'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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