Global Hard Correlations

Mutual Funds . USA . 
Fund . Global Hard Assets
GHAIX Fund  USD 43.02  0.69  1.58%   
The current 90-days correlation between Global Hard Assets and Columbia Real Estate is 0.15 (i.e., Average 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.

Global Hard Correlation With Market

Very weak diversification

The correlation between Global Hard Assets and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Hard Assets 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 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 gross domestic product.

Moving together with Global Mutual Fund

  0.84EMRIX Emerging MarketsPairCorr
  0.83EMRCX Emerging MarketsPairCorr
  0.84EMRZX Vaneck Emerging MarketsPairCorr
  0.84EMRYX Emerging MarketsPairCorr
  0.66INIVX International InvestorsPairCorr
  0.66INIYX International InvestorsPairCorr
  0.66INIIX International InvestorsPairCorr
  1.0GHAAX Global Hard AssetsPairCorr
  1.0GHACX Global Hard AssetsPairCorr
  0.85CMCAX Cm Modity IndexPairCorr
  0.85CMCYX Cm Modity IndexPairCorr
  0.85COMIX Cm Modity IndexPairCorr
  0.64MWMIX Vaneck Morningstar WidePairCorr
  0.66IIGCX International InvestorsPairCorr
  0.84GBFAX Emerging MarketsPairCorr
  0.94TRNEX T Rowe PricePairCorr
  0.81VMIAX Vanguard Materials IndexPairCorr
  0.94PRNEX T Rowe PricePairCorr
  0.74GEACX Gmo TrustPairCorr
  0.75GAAHX Gmo ResourcesPairCorr
  0.75GMOWX Gmo ResourcesPairCorr
  0.86FMFEX Materials PortfolioPairCorr
  0.86FMFAX Materials PortfolioPairCorr
  0.86FMFCX Materials PortfolioPairCorr
  0.81FSELX Fidelity Select SemiPairCorr
  0.79RLBGX American BalancedPairCorr
  0.84TSALX Tiaa Cref LifestylePairCorr

Related Correlations Analysis

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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.

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