Global Hard Correlations

Mutual Funds . USA . 
Fund . Global Hard Assets
GHAIX Fund  USD 43.85  0.05  0.11%   
The current 90-days correlation between Global Hard Assets and Ep Emerging Markets is 0.16 (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

Modest diversification

The correlation between Global Hard Assets and DJI is 0.24 (i.e., Modest 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

  0.97EMBAX Unconstrained EmergingPairCorr
  0.97EMBYX Unconstrained EmergingPairCorr
  0.97EMBUX Unconstrained EmergingPairCorr
  0.89EMRIX Emerging MarketsPairCorr
  0.89EMRZX Vaneck Emerging MarketsPairCorr
  0.89EMRYX Emerging MarketsPairCorr
  0.71INIVX International InvestorsPairCorr
  0.7INIYX International InvestorsPairCorr
  0.7INIIX International InvestorsPairCorr
  1.0GHAYX Global Hard AssetsPairCorr
  0.98GHAAX Global Hard AssetsPairCorr
  0.8CMCAX Cm Modity IndexPairCorr
  0.82CMCYX Cm Modity IndexPairCorr
  0.82COMIX Cm Modity IndexPairCorr
  0.91MWMIX Vaneck Morningstar WidePairCorr
  0.91MWMZX Vaneck Morningstar WidePairCorr
  0.65IIGCX International InvestorsPairCorr
  0.89GBFAX Emerging MarketsPairCorr
  0.96TRNEX T Rowe PricePairCorr
  0.65VMIAX Vanguard Materials IndexPairCorr
  0.8PRNEX T Rowe PricePairCorr
  0.68GEACX Gmo TrustPairCorr
  0.93GAAHX Gmo ResourcesPairCorr
  0.93GMOWX Gmo ResourcesPairCorr
  0.7FMFEX Materials PortfolioPairCorr
  0.7FMFAX Materials PortfolioPairCorr
  0.73FMFCX Materials PortfolioPairCorr
  0.62PFN Pimco Income StrategyPairCorr
  0.72CIF Mfs Intermediate HighPairCorr
  0.62NXJ Nuveen New JerseyPairCorr
  0.63PCF Putnam High IncomePairCorr
  0.65AAAGX Thrivent Large CapPairCorr
  0.88RSMOX Victory Rs MidPairCorr
  0.92RSGRX Victory Rs GrowthPairCorr
  0.85JSCRX Prudential Jennison SmallPairCorr

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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