Global Allocation Correlations

Mutual Funds . USA . 
Fund . Global Allocation 6040
DGSIX Fund  USD 22.41  0.06  0.27%   
The current 90-days correlation between Global Allocation 6040 and Mainstay Conservative Allocation is 0.92 (i.e., Almost no diversification). The correlation of Global Allocation 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 Allocation Correlation With Market

Almost no diversification

The correlation between Global Allocation 6040 and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Allocation 6040 and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Global Allocation 6040. 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 Global Mutual Fund

  0.95DIHRX Intal High RelativePairCorr
  0.93DILRX Dfa InternationalPairCorr
  0.63DIPSX Dfa Inflation ProtectedPairCorr
  0.98DISVX Dfa International SmallPairCorr
  0.98DISMX Dfa InternationalPairCorr
  0.97DMNBX Dfa Mn MunicipalPairCorr
  0.88DMREX Dfa Municipal RealPairCorr
  0.97DNYMX Dfa Ny MunicipalPairCorr
  0.91DOGMX Dfa Oregon MunicipalPairCorr
  1.0DREIX World Core EquityPairCorr
  1.0DRIIX Dimensional 2045 TargetPairCorr
  1.0DRIHX Dimensional 2040 TargetPairCorr
  0.99DRIGX Dimensional 2035 TargetPairCorr
  0.97DRIWX Dimensional 2030 TargetPairCorr
  0.94DRIUX Dimensional 2025 TargetPairCorr
  0.96DRIRX Dimensional 2020 TargetPairCorr
  0.96DRIQX Dimensional 2015 TargetPairCorr
  1.0DRILX Dimensional 2060 TargetPairCorr
  1.0DRIKX Dimensional 2055 TargetPairCorr
  1.0DRIJX Dimensional 2050 TargetPairCorr
  0.99DAADX Dfa Emerging MarketsPairCorr
  0.97DAABX Dfa SustainabilityPairCorr
  0.96DSCGX Dfa SmallPairCorr
  0.72DSFIX Dfa Social FixedPairCorr
  1.0DSHGX Dfa Selectively HedgedPairCorr
  0.91DSSMX Dfa Selective StatePairCorr
  0.96DTCPX Dfa Targeted CreditPairCorr
  1.0DTDRX Dimensional 2065 TargetPairCorr
  0.91DCARX Dfa California MunicipalPairCorr
  0.91DCIBX Dfa Ca IntPairCorr
  0.63DCMSX Dfa Commodity StrategyPairCorr
  0.99DURPX Us High RelativePairCorr
  1.0DUSQX Us Lg CapPairCorr
  0.99DUSLX Dfa LargePairCorr
  0.99DEMSX Emerging Markets SmallPairCorr
  0.98DEMGX Emerging Markets TargetedPairCorr
  0.99DESIX Emerging Markets SusPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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