Global Alpha Correlations

BGAKX Fund

USD 16.94 0.27 1.62%

The current 90-days correlation between Global Alpha and Davis Financial Fund is -0.04 (i.e., Good diversification). The correlation of Global Alpha 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 Alpha Correlation With Market

Good diversification

The correlation between The Global Alpha and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Global Alpha and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in The Global Alpha. 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 industry.

Moving together with Global Mutual Fund

0.9	BSGPX	Eafe Pure	Pair Corr
0.93	BSGLX	Long Term	Pair Corr
0.87	BTLSX	Baillie Gifford Inte Potential Growth	Pair Corr
0.87	BTLKX	Baillie Gifford Inte	Pair Corr
0.72	BGALX	Baillie Gifford Global	Pair Corr
1.0	BGASX	Global Alpha	Pair Corr
1.0	BGATX	Baillie Gifford Global	Pair Corr
0.91	BGCWX	Baillie Gifford Eafe	Pair Corr
0.91	BGCSX	Eafe Choice	Pair Corr
0.84	BGCJX	Baillie Gifford Eafe	Pair Corr
0.69	BGCDX	Baillie Gifford China	Pair Corr
0.62	BGCBX	Baillie Gifford China	Pair Corr
0.81	BGEZX	Baillie Gifford Emerging	Pair Corr
0.89	BGEWX	Baillie Gifford Emerging	Pair Corr
0.9	BGEVX	Baillie Gifford Eafe	Pair Corr
0.9	BGESX	Eafe Fund	Pair Corr
0.9	BGETX	Baillie Gifford Eafe	Pair Corr
0.85	BGEPX	Baillie Gifford Emerging	Pair Corr
0.9	BGEKX	Eafe Fund	Pair Corr
0.85	BGELX	Emerging Markets	Pair Corr
0.85	BGEGX	Baillie Gifford Emerging	Pair Corr
0.85	BGEHX	Baillie Gifford Emerging	Pair Corr
0.9	BGEFX	Baillie Gifford Eafe	Pair Corr
0.85	BGEDX	Baillie Gifford Emerging	Pair Corr
0.9	BGGSX	Equity Growth	Pair Corr
0.98	BGGKX	Equity Growth	Pair Corr
0.8	BGIUX	Baillie Gifford Inte	Pair Corr
0.87	BGIVX	Baillie Gifford Inte	Pair Corr
0.8	BGITX	Baillie Gifford Inte	Pair Corr
0.8	BGIKX	The International Equity	Pair Corr
0.87	BGIFX	Baillie Gifford Inte	Pair Corr
0.85	BGKEX	Emerging Markets	Pair Corr
0.91	BGLTX	Baillie Gifford	Pair Corr
0.91	BGLKX	Long Term	Pair Corr
0.84	BGPKX	Eafe Pure	Pair Corr
0.84	BGPFX	Baillie Gifford Eafe	Pair Corr
0.78	BICKX	The International Smaller	Pair Corr

Related Correlations Analysis

	DVFYX	SWGXX	MODXX	PFCXX	PCSXX	VMRXX
DVFYX		0.27	-0.24	-0.2	-0.2	-0.2	DVFYX
SWGXX	0.27		0.25	0.71	0.71	0.71	SWGXX
MODXX	-0.24	0.25		0.36	0.36	0.36	MODXX
PFCXX	-0.2	0.71	0.36		1.0	1.0	PFCXX
PCSXX	-0.2	0.71	0.36	1.0		1.0	PCSXX
VMRXX	-0.2	0.71	0.36	1.0	1.0		VMRXX
	DVFYX	SWGXX	MODXX	PFCXX	PCSXX	VMRXX

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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

PCSXX	+ 1.0	PFCXX
VMRXX	+ 1.0	PFCXX
VMRXX	+ 1.0	PCSXX
PFCXX	+ 0.71	SWGXX
PCSXX	+ 0.71	SWGXX
VMRXX	+ 0.71	SWGXX

High negative correlations

MODXX	- 0.24	DVFYX
VMRXX	- 0.2	DVFYX
PCSXX	- 0.2	DVFYX
PFCXX	- 0.2	DVFYX

Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DVFYX	1.19	0.07	0.03	0.02	1.98	(1.19)	2.62	(3.12)	9.98
SWGXX	0.03	0.00	0.00	(0.58)	0.00	0.00	0.00	0.00	1.01
MODXX	0.03	0.00	0.00	(0.69)	0.00	0.00	0.00	0.00	1.01
PFCXX	0.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.01
PCSXX	0.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.01
VMRXX	0.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.01

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