Gmo Alternative Correlations

Mutual Funds . USA . 
Fund . Gmo Alternative Allocation
GAAKX Fund  USD 17.67  0.10  0.57%   
The current 90-days correlation between Gmo Alternative Allo and Transamerica International Small is 0.04 (i.e., Significant 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

Poor diversification

The correlation between Gmo Alternative Allocation and DJI is 0.6 (i.e., Poor 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

  0.78GUGAX Gmo E PlusPairCorr
  0.81GUSOX Gmo TrustPairCorr
  0.82GUSTX Gmo TreasuryPairCorr
  0.81GEACX Gmo Trust Steady GrowthPairCorr
  0.76GEMEX Gmo Emerging MarketsPairCorr
  0.76GEMMX Gmo Emerging MarketsPairCorr
  0.76GEMNX Gmo Emerging MarketsPairCorr
  0.77GWOAX Gmo Global DevelopedPairCorr
  0.77IOVFX Gmo InternationalPairCorr
  0.77GHVIX Gmo High YieldPairCorr
  0.77GIEAX Gmo International EquityPairCorr
  0.86GIMFX Gmo ImplementationPairCorr
  0.76GIOTX Gmo InternationalPairCorr
  0.77GMAWX Gmo Small CapPairCorr
  0.77GMAYX Gmo Small CapPairCorr
  0.77GMAZX Gmo InternationalPairCorr
  0.8GMBCX Gmo InternationalPairCorr
  0.8GMADX Gmo Global EquityPairCorr
  0.74GMAHX Gmo Usonian JapanPairCorr
  0.72GMAKX Gmo Usonian JapanPairCorr
  0.74GMAQX Gmo Emerging MarketsPairCorr
  0.74GMAUX Gmo Emerging MarketsPairCorr
  0.84GMDFX Gmo Emerging CountryPairCorr
  0.84GMCDX Gmo Emerging NtryPairCorr
  0.74GMCFX Gmo International EquityPairCorr
  0.75GMCQX Gmo Equity AllocationPairCorr
  0.76GMEMX Gmo Emerging MarketsPairCorr
  0.8GMGEX Gmo Global EquityPairCorr
  0.72GMIIX Gmo Usonian JapanPairCorr
  0.77GMODX Gmo Opportunistic IncomePairCorr
  0.76GMOEX Gmo Emerging MarketsPairCorr
  0.8GMOHX Gmo Opportunistic IncomePairCorr
  0.73GMOIX Gmo International EquityPairCorr
  0.76GMOLX Gmo Opportunistic IncomePairCorr
  0.82GMOOX Gmo Global AssetPairCorr
  0.81PPADX Gmo TrustPairCorr
  0.86PPAEX Gmo TrustPairCorr
  0.81PPAJX 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 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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