Gmo Alternative Correlations

Mutual Funds . USA . 
Fund . Gmo Alternative Allocation
GAAKX Fund  USD 17.57  0.14  0.80%   
The current 90-days correlation between Gmo Alternative Allo and Ab Small Cap is -0.16 (i.e., Good diversification). The correlation of Gmo Alternative 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 Alternative Correlation With Market

Very weak diversification

The correlation between Gmo Alternative Allocation and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gmo Alternative Allocation 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 Alternative Allocation. 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 Gmo Mutual Fund

  0.74GUGAX Gmo E PlusPairCorr
  0.81GUSOX Gmo TrustPairCorr
  0.82GUSTX Gmo TreasuryPairCorr
  0.8GEACX Gmo TrustPairCorr
  0.75GEMEX Gmo Emerging MarketsPairCorr
  0.75GEMMX Gmo Emerging MarketsPairCorr
  0.75GEMNX Gmo Emerging MarketsPairCorr
  0.77GWOAX Gmo Global DevelopedPairCorr
  0.78GHVIX Gmo High YieldPairCorr
  0.75GIEAX Gmo International EquityPairCorr
  0.74GIOTX Gmo InternationalPairCorr
  0.77GMAWX Gmo Small CapPairCorr
  0.77GMAYX Gmo Small CapPairCorr
  0.76GMAZX Gmo InternationalPairCorr
  0.79GMBCX Gmo InternationalPairCorr
  0.79GMADX Gmo Global EquityPairCorr
  0.73GMAHX Gmo Usonian JapanPairCorr
  0.72GMAKX Gmo Usonian JapanPairCorr
  0.75GMAQX Gmo Emerging MarketsPairCorr
  0.74GMAUX Gmo Emerging MarketsPairCorr
  0.84GMDFX Gmo Emerging CountryPairCorr
  0.84GMCDX Gmo Emerging NtryPairCorr
  0.73GMCFX Gmo International EquityPairCorr
  0.75GMCQX Gmo Equity AllocationPairCorr
  0.75GMEMX Gmo Emerging MarketsPairCorr
  0.79GMGEX Gmo Global EquityPairCorr
  0.73GMIIX Gmo Usonian JapanPairCorr
  0.76GMODX Gmo Opportunistic IncomePairCorr
  0.75GMOEX Gmo Emerging MarketsPairCorr
  0.73GMOIX Gmo International EquityPairCorr
  0.82GMOOX Gmo Global AssetPairCorr
  0.85PPADX Gmo TrustPairCorr
  0.73GMOUX Gmo International EquityPairCorr
  0.75GMOWX Gmo ResourcesPairCorr
  0.74GMOYX Gmo TrustPairCorr
  0.78GMOZX Gmo High YieldPairCorr
  0.75GMUEX Gmo Equity AllocationPairCorr
  0.82GMWAX Gmo Global AssetPairCorr

Moving against Gmo Mutual Fund

  0.34GMAEX Gmo Quality CyclicalsPairCorr
  0.34GMAOX Gmo TrustPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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