Gotham Index Correlations

Mutual Funds . USA . 
Fund . Gotham Index Plus
GNNDX Fund  USD 29.86  0.05  0.17%   
The current 90-days correlation between Gotham Index Plus and Gotham Index Plus is 1.0 (i.e., No risk reduction). The correlation of Gotham Index 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 Index Correlation With Market

Almost no diversification

The correlation between Gotham Index Plus and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gotham Index Plus 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 Index Plus. 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 unemployment.

Moving together with Gotham Mutual Fund

  0.98GCHDX Gotham Hedged EPairCorr
  0.97GDLFX Gotham Defensive LongPairCorr
  0.99GVALX Gotham Large ValuePairCorr
  1.0GEFPX Gotham Enhanced 500PairCorr
  0.99GENIX Gotham Enhanced ReturnPairCorr
  1.0GINDX Gotham Index PlusPairCorr
  0.89GONIX Gotham NeutralPairCorr
  0.98GARIX Gotham Absolute ReturnPairCorr
  1.0GSPFX Gotham Enhanced SpPairCorr
  0.99GTRFX Gotham Total ReturnPairCorr
  1.0VTSAX Vanguard Total StockPairCorr
  0.77VFIAX Vanguard 500 IndexPairCorr
  0.77VTSMX Vanguard Total StockPairCorr
  0.77VITSX Vanguard Total StockPairCorr
  0.77VSMPX Vanguard Total StockPairCorr
  0.77VSTSX Vanguard Total StockPairCorr
  0.77VFINX Vanguard 500 IndexPairCorr
  0.77VFFSX Vanguard 500 IndexPairCorr
  0.77VINIX Vanguard InstitutionalPairCorr
  0.77VIIIX Vanguard InstitutionalPairCorr
  0.79VGTSX Vanguard Total InterPairCorr
  0.79VTIAX Vanguard Total InterPairCorr
  0.98OAYGX Oakmark GlobalPairCorr
  0.76HDCAX Rational Dividend CapturePairCorr
  0.99FSBCX Federated Global AllPairCorr
  0.93ETAEX Eventide ExponentialPairCorr
  0.96APHKX Artisan InternationalPairCorr
  0.98ETFRX Stadion Tactical DefPairCorr
  1.0WFSPX Blackrock Sp 500PairCorr
  0.99SSCDX Sit Small CapPairCorr
  0.99LPCNX Blackrock LifepathPairCorr
  0.78CFSTX Short TermPairCorr
  0.87RTSGX Transamerica Small CapPairCorr
  0.76VPMCX Vanguard PrimecapPairCorr
  0.72FLDBX Franklin Long DurationPairCorr
  0.69FHKAX Fidelity China Region Steady GrowthPairCorr
  0.96RITCX American High IncomePairCorr
  0.95LINPX Lord Abbett InternationalPairCorr
  0.96IHICX Federated Emerging MarketPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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