Gmo Equity Correlations

Mutual Funds . USA . 
Fund . Gmo Equity Allocation
GMUEX Fund  USD 13.65  0.04  0.29%   
The current 90-days correlation between Gmo Equity Allocation and Hsbc Funds is 0.09 (i.e., Significant diversification). The correlation of Gmo Equity 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 Equity Correlation With Market

Poor diversification

The correlation between Gmo Equity Allocation and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gmo Equity 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 Equity 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 income.

Moving together with Gmo Mutual Fund

  0.62GUGAX Gmo E PlusPairCorr
  0.97GUSOX Gmo TrustPairCorr
  0.82GUSTX Gmo TreasuryPairCorr
  0.94GEACX Gmo Trust Steady GrowthPairCorr
  0.98GEMEX Gmo Emerging MarketsPairCorr
  0.85GEMMX Gmo Emerging MarketsPairCorr
  0.98GEMNX Gmo Emerging MarketsPairCorr
  0.99GWOAX Gmo Global DevelopedPairCorr
  0.96GIEAX Gmo International EquityPairCorr
  0.96GIMFX Gmo ImplementationPairCorr
  0.93GIOTX Gmo InternationalPairCorr
  0.96GMAYX Gmo Small CapPairCorr
  0.94GMAZX Gmo International Steady GrowthPairCorr
  0.95GMBCX Gmo InternationalPairCorr
  0.88GMAHX Gmo Usonian JapanPairCorr
  0.88GMAKX Gmo Usonian JapanPairCorr
  0.89GMAUX Gmo Emerging MarketsPairCorr
  0.97GMDFX Gmo Emerging CountryPairCorr
  0.97GMCDX Gmo Emerging NtryPairCorr
  0.92GMCFX Gmo International EquityPairCorr
  0.89GMCQX Gmo Equity AllocationPairCorr
  0.99GMGEX Gmo Global EquityPairCorr
  0.98GMOEX Gmo Emerging MarketsPairCorr
  0.92GMOIX Gmo International EquityPairCorr
  0.98GMOOX Gmo Global AssetPairCorr
  0.97PPAEX Gmo TrustPairCorr
  0.86GMOQX Gmo Emerging CountryPairCorr
  0.92GMOUX Gmo International EquityPairCorr
  0.63GMOWX Gmo Resources Steady GrowthPairCorr
  0.93GMOYX Gmo Trust Steady GrowthPairCorr
  0.98GMOZX Gmo High YieldPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

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