Global Fixed Correlations

DINCXDelisted Fund

USD 5.31 0.00 0.00%

The current 90-days correlation between Global Fixed Income and Eventide Healthcare Life is 0.02 (i.e., Significant diversification). The correlation of Global Fixed 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 Fixed Correlation With Market

Poor diversification

The correlation between Global Fixed Income 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 Global Fixed Income and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios. 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 unemployment.

Moving together with Global Mutual Fund

0.72	PONAX	Pimco Income	Pair Corr
0.71	PONCX	Pimco Income	Pair Corr
0.74	PIPNX	Pimco Income	Pair Corr
0.74	PONRX	Pimco Income	Pair Corr
0.74	PONPX	Pimco Incme Fund	Pair Corr
0.74	PIINX	Pimco Income	Pair Corr
0.74	PIMIX	Pimco Income	Pair Corr
0.81	GAAKX	Gmo Alternative Allo	Pair Corr
0.81	GAAGX	Gmo Alternative Allo	Pair Corr
0.68	PQTAX	Pimco Trends Managed	Pair Corr
0.69	PQTNX	Pimco Trends Managed	Pair Corr
0.69	PQTIX	Aa Pimco Tr	Pair Corr
0.76	FLRYX	Nuveen Large Cap	Pair Corr
0.65	CAMYX	Cambiar International	Pair Corr
0.64	QRSAX	Fpa Queens Road	Pair Corr
0.84	DD	Dupont De Nemours	Pair Corr
0.71	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.63	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.79	MRK	Merck Company Earnings Call This Week	Pair Corr

Moving against Global Mutual Fund

0.74	HPQ	HP Inc	Pair Corr
0.35	IBM	International Business Tech Boost	Pair Corr

Related Correlations Analysis

	HGHYX	ETHSX	GTHCX	LYFAX	ETAHX
HGHYX		0.88	0.8	0.88	0.9	HGHYX
ETHSX	0.88		0.83	0.87	0.86	ETHSX
GTHCX	0.8	0.83		0.62	0.64	GTHCX
LYFAX	0.88	0.87	0.62		0.97	LYFAX
ETAHX	0.9	0.86	0.64	0.97		ETAHX
	HGHYX	ETHSX	GTHCX	LYFAX	ETAHX

Risk-Adjusted Indicators

There is a big difference between Global Mutual Fund performing well and Global Fixed 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 Fixed'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
HGHYX	0.67	0.08	0.09	0.19	0.53	(0.76)	1.91	(1.05)	3.95
ETHSX	0.75	0.18	0.20	1.30	0.39	(0.97)	2.04	(1.23)	7.73
GTHCX	0.86	0.22	0.28	0.47	0.36	(1.21)	1.66	(1.26)	16.06
LYFAX	0.93	0.17	0.11	5.44	0.85	(1.07)	2.00	(1.56)	5.01
ETAHX	1.14	0.26	0.19	1.60	0.91	(1.33)	3.27	(1.85)	5.91

Global Fixed Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Global Fixed mutual fund to make a market-neutral strategy. Peer analysis of Global Fixed could also be used in its relative valuation, which is a method of valuing Global Fixed by comparing valuation metrics with similar companies.

The Hartford Healthcare Eaton Vance Worldwide Invesco Global Health Alphacentric Lifesci Healthcare Eventide Healthcare Life American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp The Home Depot International Business Machines

Risk & Return

Correlation

Still Interested in Global Fixed Income?

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