Global Alpha Correlations

Mutual Funds . USA . 
Fund . The Global Alpha
BGASX Fund  USD 18.72  0.21  1.11%   
The current 90-days correlation between Global Alpha and Advent Claymore Convertible is 0.87 (i.e., Very poor diversification). The correlation of Global Alpha 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 Alpha Correlation With Market

Significant diversification

The correlation between The Global Alpha and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Global Alpha and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in The Global Alpha. 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 main economic indicators.

Moving together with Global Mutual Fund

  0.68BSGPX Eafe PurePairCorr
  0.94BSGLX Long TermPairCorr
  0.85BTLSX Baillie Gifford IntePairCorr
  0.85BTLKX Baillie Gifford IntePairCorr
  1.0BGAKX Global AlphaPairCorr
  1.0BGATX Baillie Gifford GlobalPairCorr
  0.82BGCWX Baillie Gifford EafePairCorr
  0.66BGCSX Eafe ChoicePairCorr
  0.77BGCJX Baillie Gifford EafePairCorr
  0.66BGCDX Baillie Gifford ChinaPairCorr
  0.67BGCBX Baillie Gifford ChinaPairCorr
  0.94BGEUX Baillie Gifford EafePairCorr
  0.94BGEVX Baillie Gifford EafePairCorr
  0.94BGESX Eafe FundPairCorr
  0.94BGETX Baillie Gifford EafePairCorr
  0.94BGEKX Eafe FundPairCorr
  0.94BGEFX Baillie Gifford EafePairCorr
  0.9BGGSX Equity GrowthPairCorr
  0.83BGGKX Equity GrowthPairCorr
  0.91BGIUX Baillie Gifford IntePairCorr
  0.91BGIVX Baillie Gifford IntePairCorr
  0.91BGITX Baillie Gifford IntePairCorr
  0.91BGIKX The International EquityPairCorr
  0.91BGIFX Baillie Gifford IntePairCorr
  0.85BGLTX Baillie GiffordPairCorr
  0.94BGLKX Long TermPairCorr
  0.91BINSX The International EquityPairCorr
  0.82BKGCX Eafe ChoicePairCorr

Related Correlations Analysis


Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

NCIDX
+ 0.96
XNCVX
XNCVX
+ 0.85
CCD
NCIDX
+ 0.84
CCD
NCIDX
+ 0.78
FSAWX
XNCVX
+ 0.67
XAVKX
XNCVX
+ 0.66
FSAWX
  

High negative correlations

PBXCX
- 0.16
FSAWX

Risk-Adjusted Indicators

There is a big difference between Global Mutual Fund performing well and Global Alpha 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 Alpha'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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