Gotham Hedged Correlations

Mutual Funds . USA . 
Fund . Gotham Hedged E
GCHDX Fund  USD 13.76  0.09  0.65%   
The current 90-days correlation between Gotham Hedged E and Ab High Income is -0.07 (i.e., Good diversification). The correlation of Gotham Hedged 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.

Gotham Hedged Correlation With Market

Poor diversification

The correlation between Gotham Hedged E and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gotham Hedged E 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 Gotham Hedged E. 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 Gotham Mutual Fund

  0.93GDLFX Gotham Defensive LongPairCorr
  0.94GVALX Gotham Large ValuePairCorr
  0.95GEFPX Gotham Enhanced 500PairCorr
  0.91GENIX Gotham Enhanced ReturnPairCorr
  0.95GINDX Gotham Index PlusPairCorr
  0.95GNNDX Gotham Index PlusPairCorr
  0.83GARIX Gotham Absolute ReturnPairCorr
  0.95GSPFX Gotham Enhanced SpPairCorr
  0.98GTRFX Gotham Total ReturnPairCorr
  0.96NLSCX Neuberger Berman LongPairCorr
  0.95NLSAX Neuberger Berman LongPairCorr
  0.95NLSIX Neuberger Berman LongPairCorr
  0.81QLERX Aqr Long ShortPairCorr
  0.95ASLAX Ab Select LongshortPairCorr
  0.64PFN Pimco Income StrategyPairCorr
  0.73XNKGX Nuveen Georgia QualityPairCorr
  0.78XPPRX Voya Prime RatePairCorr
  0.79PCF Putnam High IncomePairCorr
  0.9SPXUX Wisdomtree Digital TrustPairCorr
  0.91WCPSX Mobile TelecommunicatioPairCorr
  0.89FAGIX Fidelity Capital IncomePairCorr
  0.68TAIAX American Funds TaxPairCorr
  0.76OHYFX Jpmorgan High YieldPairCorr
  0.95AMEIX Equity GrowthPairCorr
  0.9FPURX Fidelity PuritanPairCorr
  0.75JHYFX Janus High YieldPairCorr
  0.94TASMX Transamerica Smallmid CapPairCorr
  0.84WRAAX Wilmington Global AlphaPairCorr

Moving against Gotham Mutual Fund

  0.63XNXJX Nuveen New JerseyPairCorr
  0.59XNBHX Neuberger Berman IntPairCorr
  0.39NXJ Nuveen New JerseyPairCorr
  0.33XDSMX Dreyfus StrategicPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Gotham Mutual Fund performing well and Gotham Hedged 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 Gotham Hedged'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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