Gmo High Correlations

Mutual Funds . USA . 
Fund . Gmo High Yield
GMOZX Fund   17.53  0.02  0.11%   
The current 90-days correlation between Gmo High Yield and Vanguard Information Technology is 0.1 (i.e., Average 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

Average diversification

The correlation between Gmo High Yield and DJI is 0.13 (i.e., Average 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 nation.

Moving together with Gmo Mutual Fund

  0.72GUSOX Gmo TrustPairCorr
  0.76GUSTX Gmo TreasuryPairCorr
  0.69GEACX Gmo TrustPairCorr
  0.84GEMEX Gmo Emerging MarketsPairCorr
  0.72GEMMX Gmo Emerging MarketsPairCorr
  0.72GEMNX Gmo Emerging MarketsPairCorr
  0.7GWOAX Gmo Global DevelopedPairCorr
  0.84IOVFX Gmo InternationalPairCorr
  0.7GHVIX Gmo High YieldPairCorr
  0.97GIEAX Gmo International EquityPairCorr
  0.67GIMFX Gmo ImplementationPairCorr
  0.84GIOTX Gmo InternationalPairCorr
  0.68GMAWX Gmo Small CapPairCorr
  0.94GMAYX Gmo Small CapPairCorr
  0.96GMAZX Gmo InternationalPairCorr
  0.96GMBCX Gmo InternationalPairCorr
  0.7GMADX Gmo Global EquityPairCorr
  0.86GMAHX Gmo Usonian JapanPairCorr
  0.93GMAKX Gmo Usonian JapanPairCorr
  0.71GMAQX Gmo Emerging MarketsPairCorr
  0.71GMAUX Gmo Emerging MarketsPairCorr
  0.84GMDFX Gmo Emerging CountryPairCorr
  0.84GMCDX Gmo Emerging NtryPairCorr
  0.83GMCFX Gmo International EquityPairCorr
  0.75GMCQX Gmo Equity AllocationPairCorr
  0.69GMEMX Gmo Emerging MarketsPairCorr
  0.86GMGEX Gmo Global EquityPairCorr
  0.63GMIIX Gmo Usonian JapanPairCorr
  0.91GMODX Gmo Opportunistic IncomePairCorr
  0.84GMOEX Gmo Emerging MarketsPairCorr
  0.69GMOHX Gmo Opportunistic IncomePairCorr
  0.95GMOIX Gmo International EquityPairCorr
  0.68GMOLX Gmo Opportunistic IncomePairCorr
  0.86GMOOX Gmo Global AssetPairCorr
  0.72PPADX Gmo TrustPairCorr
  0.72PPAEX Gmo TrustPairCorr
  0.7PPAJX Gmo Opportunistic ValuePairCorr

Related Correlations Analysis

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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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