Gmo International Correlations

Mutual Funds . USA . 
Fund . Gmo International Developed
GIOTX Fund  USD 24.10  0.03  0.12%   
The current 90-days correlation between Gmo International and Multisector Bond Sma is 0.44 (i.e., Very weak diversification). The correlation of Gmo International 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 International Correlation With Market

Poor diversification

The correlation between Gmo International Developed and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gmo International Developed 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 International Developed. 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 manufacturing.

Moving together with Gmo Mutual Fund

  0.8GUSOX Gmo TrustPairCorr
  0.64GUSTX Gmo TreasuryPairCorr
  0.82GEACX Gmo TrustPairCorr
  0.68GEMEX Gmo Emerging MarketsPairCorr
  0.68GEMMX Gmo Emerging MarketsPairCorr
  0.68GEMNX Gmo Emerging MarketsPairCorr
  0.97GWOAX Gmo Global DevelopedPairCorr
  0.96IOVFX Gmo InternationalPairCorr
  0.88GHVIX Gmo High YieldPairCorr
  0.98GIEAX Gmo International EquityPairCorr
  0.92GIMFX Gmo ImplementationPairCorr
  0.62GMAWX Gmo Small CapPairCorr
  0.62GMAYX Gmo Small CapPairCorr
  0.96GMAZX Gmo InternationalPairCorr
  0.96GMBCX Gmo InternationalPairCorr
  0.97GMADX Gmo Global EquityPairCorr
  0.62GMAHX Gmo Usonian JapanPairCorr
  0.62GMAKX Gmo Usonian JapanPairCorr
  0.69GMAQX Gmo Emerging MarketsPairCorr
  0.69GMAUX Gmo Emerging MarketsPairCorr
  0.66GMDFX Gmo Emerging CountryPairCorr
  0.67GMCDX Gmo Emerging NtryPairCorr
  1.0GMCFX Gmo International EquityPairCorr
  0.86GMCQX Gmo Equity AllocationPairCorr
  0.68GMEMX Gmo Emerging MarketsPairCorr
  0.97GMGEX Gmo Global EquityPairCorr
  0.61GMIIX Gmo Usonian JapanPairCorr
  0.65GMODX Gmo Opportunistic IncomePairCorr
  0.68GMOEX Gmo Emerging MarketsPairCorr
  0.66GMOHX Gmo Opportunistic IncomePairCorr
  1.0GMOIX Gmo International EquityPairCorr
  0.66GMOLX Gmo Opportunistic IncomePairCorr
  0.96GMOOX Gmo Global AssetPairCorr
  0.8PPADX Gmo TrustPairCorr
  0.79PPAEX Gmo TrustPairCorr
  0.8PPAJX Gmo Opportunistic ValuePairCorr
  0.74GMOQX Gmo Emerging CountryPairCorr
  1.0GMOUX Gmo International EquityPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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