Global Alpha Correlations

BGASX Fund

USD 12.91 0.15 1.18%

The current 90-days correlation between Global Alpha and Baillie Gifford China is 0.59 (i.e., Very weak 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

Modest diversification

The correlation between The Global Alpha and DJI is 0.26 (i.e., Modest 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

0.65	BSGLX	Long Term	Pair Corr
0.93	BTLSX	Baillie Gifford Inte	Pair Corr
0.93	BTLKX	Baillie Gifford Inte	Pair Corr
1.0	BGAKX	Global Alpha	Pair Corr
1.0	BGATX	Baillie Gifford Global	Pair Corr
0.7	BGCDX	Baillie Gifford China	Pair Corr
0.61	BGCBX	Baillie Gifford China	Pair Corr
0.66	BGEVX	Baillie Gifford Eafe	Pair Corr
0.67	BGESX	Eafe Fund	Pair Corr
0.67	BGETX	Baillie Gifford Eafe	Pair Corr
0.67	BGEKX	Eafe Fund	Pair Corr
0.82	BGEFX	Baillie Gifford Eafe	Pair Corr
0.63	BGLTX	Baillie Gifford	Pair Corr
0.63	BGLKX	Long Term	Pair Corr

Related Correlations Analysis

	BSGPX	BTLSX	BTLKX	BGCWX	BGCSX	BGCDX
BSGPX		-0.02	-0.02	1.0	0.91	-0.66	BSGPX
BTLSX	-0.02		1.0	-0.05	0.23	0.62	BTLSX
BTLKX	-0.02	1.0		-0.05	0.23	0.63	BTLKX
BGCWX	1.0	-0.05	-0.05		0.9	-0.68	BGCWX
BGCSX	0.91	0.23	0.23	0.9		-0.49	BGCSX
BGCDX	-0.66	0.62	0.63	-0.68	-0.49		BGCDX
	BSGPX	BTLSX	BTLKX	BGCWX	BGCSX	BGCDX

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

BGCWX	+ 1.0	BSGPX
BTLKX	+ 1.0	BTLSX
BGCSX	+ 0.91	BSGPX
BGCSX	+ 0.9	BGCWX
BGCDX	+ 0.63	BTLKX
BGCDX	+ 0.62	BTLSX

High negative correlations

BGCDX	- 0.68	BGCWX
BGCDX	- 0.66	BSGPX
BGCDX	- 0.49	BGCSX
BGCWX	- 0.05	BTLKX
BGCWX	- 0.05	BTLSX
BTLKX	- 0.02	BSGPX

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.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
BSGPX	3.22	(1.53)	1.07	1.26	(1.21)	84.34
BTLSX	0.97	(0.12)	(0.08)	2.10	(2.85)	6.22
BTLKX	0.97	(0.12)	(0.08)	2.13	(2.81)	6.34
BGCWX	2.01	(0.87)	0.78	1.23	(1.04)	67.61
BGCSX	4.16	(1.97)	1.92	1.45	(1.42)	77.96
BGCDX	0.77	(0.06)	(0.07)	1.30	(1.70)	6.06

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