Global Hard Correlations

Mutual Funds . USA . 
Fund . Global Hard Assets
GHAAX Fund  USD 41.68  0.73  1.72%   
The current 90-days correlation between Global Hard Assets and Unconstrained Emerging Markets is 0.34 (i.e., Weak diversification). The correlation of Global Hard 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.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Global Hard Assets. 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 nation.

Moving together with Global Mutual Fund

  0.97EMBAX Unconstrained EmergingPairCorr
  0.97EMBYX Unconstrained EmergingPairCorr
  0.97EMBUX Unconstrained EmergingPairCorr
  0.88EMRIX Emerging MarketsPairCorr
  0.89EMRZX Vaneck Emerging MarketsPairCorr
  0.88EMRYX Emerging MarketsPairCorr
  0.71INIVX International InvestorsPairCorr
  0.69INIYX International InvestorsPairCorr
  0.69INIIX International InvestorsPairCorr
  0.98GHAIX Global Hard AssetsPairCorr
  0.98GHAYX Global Hard AssetsPairCorr
  0.84CMCAX Cm Modity IndexPairCorr
  0.83CMCYX Cm Modity IndexPairCorr
  0.85COMIX Cm Modity IndexPairCorr
  0.9MWMIX Vaneck Morningstar WidePairCorr
  0.9MWMZX Vaneck Morningstar WidePairCorr
  0.68IIGCX International InvestorsPairCorr
  0.89GBFAX Emerging MarketsPairCorr
  0.98TRNEX T Rowe PricePairCorr
  0.89VMIAX Vanguard Materials IndexPairCorr
  0.96PRNEX T Rowe PricePairCorr
  0.92GEACX Gmo Trust Steady GrowthPairCorr
  0.93GAAHX Gmo Resources Steady GrowthPairCorr
  0.93GMOWX Gmo ResourcesPairCorr
  0.9FMFEX Materials PortfolioPairCorr
  0.89FMFAX Materials PortfolioPairCorr
  0.9FMFCX Materials PortfolioPairCorr
  0.92PFN Pimco Income StrategyPairCorr
  0.9CIF Mfs Intermediate HighPairCorr
  0.86PCF Putnam High IncomePairCorr
  0.91AAAGX Thrivent Large CapPairCorr
  0.88RSMOX Victory Rs MidPairCorr
  0.92RSGRX Victory Rs GrowthPairCorr
  0.83JSCRX Prudential Jennison SmallPairCorr

Moving against Global Mutual Fund

  0.62XNBHX Neuberger Berman IntPairCorr
  0.6XDSMX Dreyfus StrategicPairCorr
  0.31XNXJX Nuveen New JerseyPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Global Mutual Fund performing well and Global Hard 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 Hard'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
EMBAX  0.21  0.11 (0.23) 22.16  0.00 
(0.32)
 0.39 
(0.19)
 1.10 
EMBYX  0.21  0.10 (0.26) 2.69  0.00 
(0.33)
 0.54 
(0.19)
 1.09 
EMBUX  0.21  0.11 (0.24) 5.30  0.00 
(0.33)
 0.55 
(0.19)
 1.10 
EMRIX  0.59  0.19  0.16  0.57  0.00 
(0.74)
 1.93 
(0.82)
 4.20 
EMRZX  0.60  0.24  0.11  6.25  0.19 
(0.74)
 1.93 
(1.15)
 4.19 
EMRYX  0.58  0.19  0.16  0.57  0.00 
(0.73)
 1.87 
(0.79)
 4.21 
INIVX  1.60  0.08 (0.03) 0.82  2.17 
(1.57)
 3.31 
(3.48)
 12.49 
INIYX  1.59  0.28 (0.03)(0.10) 2.27 
(1.57)
 3.34 
(3.54)
 12.46 
INIIX  1.60  0.28 (0.03)(0.10) 2.17 
(1.58)
 3.32 
(3.52)
 12.44 
GHAIX  0.64  0.15  0.04  0.81  0.36 
(0.77)
 1.79 
(1.06)
 3.46 

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