Global Hard Correlations

GHAAX Fund

USD 38.46 0.51 1.34%

The current 90-days correlation between Global Hard Assets and Unconstrained Emerging Markets is 0.38 (i.e., Weak 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 0.29 (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 nation.

Moving together with Global Mutual Fund

0.8	EMBAX	Unconstrained Emerging	Pair Corr
0.8	EMBYX	Unconstrained Emerging	Pair Corr
0.71	EMBUX	Unconstrained Emerging	Pair Corr
0.75	EMRIX	Emerging Markets	Pair Corr
0.74	EMRCX	Emerging Markets	Pair Corr
0.69	EMRZX	Vaneck Emerging Markets	Pair Corr
0.74	EMRYX	Emerging Markets	Pair Corr
0.74	INIVX	International Investors Steady Growth	Pair Corr
0.74	INIYX	International Investors Steady Growth	Pair Corr
0.74	INIIX	International Investors Steady Growth	Pair Corr
1.0	GHAIX	Global Hard Assets	Pair Corr
1.0	GHAYX	Global Hard Assets	Pair Corr
1.0	GHACX	Global Hard Assets	Pair Corr
0.79	MWMIX	Vaneck Morningstar Wide	Pair Corr
0.79	MWMZX	Vaneck Morningstar Wide	Pair Corr
0.74	IIGCX	International Investors Steady Growth	Pair Corr
0.75	GBFAX	Emerging Markets	Pair Corr
0.88	TRNEX	T Rowe Price	Pair Corr
0.93	VMIAX	Vanguard Materials Index	Pair Corr
0.94	PRNEX	T Rowe Price	Pair Corr
0.93	GEACX	Gmo Trust	Pair Corr
0.93	GAAHX	Gmo Resources	Pair Corr
0.91	GMOWX	Gmo Resources	Pair Corr
0.8	FMFEX	Materials Portfolio	Pair Corr
0.8	FMFAX	Materials Portfolio	Pair Corr
0.79	FMFCX	Materials Portfolio	Pair Corr
0.68	NHS	Neuberger Berman High	Pair Corr

Moving against Global Mutual Fund

0.67	VUSXX	Vanguard Treasury Money	Pair Corr
0.57	LGRAX	Lord Abbett Investment	Pair Corr

Related Correlations Analysis

	EMBAX	EMBYX	EMBUX	EMRIX	EMRCX	EMRZX	EMRYX	INIVX	INIYX	INIIX
EMBAX		1.0	0.93	0.92	0.92	0.91	0.92	0.69	0.69	0.69	EMBAX
EMBYX	1.0		0.93	0.92	0.91	0.9	0.92	0.7	0.7	0.69	EMBYX
EMBUX	0.93	0.93		0.89	0.89	0.92	0.89	0.61	0.61	0.61	EMBUX
EMRIX	0.92	0.92	0.89		1.0	0.96	1.0	0.7	0.7	0.69	EMRIX
EMRCX	0.92	0.91	0.89	1.0		0.97	1.0	0.7	0.7	0.69	EMRCX
EMRZX	0.91	0.9	0.92	0.96	0.97		0.96	0.65	0.65	0.64	EMRZX
EMRYX	0.92	0.92	0.89	1.0	1.0	0.96		0.7	0.7	0.69	EMRYX
INIVX	0.69	0.7	0.61	0.7	0.7	0.65	0.7		1.0	1.0	INIVX
INIYX	0.69	0.7	0.61	0.7	0.7	0.65	0.7	1.0		1.0	INIYX
INIIX	0.69	0.69	0.61	0.69	0.69	0.64	0.69	1.0	1.0		INIIX
	EMBAX	EMBYX	EMBUX	EMRIX	EMRCX	EMRZX	EMRYX	INIVX	INIYX	INIIX

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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.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
EMBAX	0.28	(0.03)	(0.25)	0.57	(0.57)	1.89
EMBYX	0.28	(0.03)	(0.29)	0.39	(0.57)	1.89
EMBUX	0.28	(0.04)	(0.32)	0.39	(0.57)	1.90
EMRIX	0.60	(0.14)	(0.42)	1.14	(1.57)	3.71
EMRCX	0.60	(0.14)	(0.43)	1.08	(1.56)	3.59
EMRZX	0.61	(0.14)	(0.75)	1.09	(1.60)	3.69
EMRYX	0.61	(0.14)	(0.41)	1.14	(1.57)	3.66
INIVX	1.27	(0.16)	(0.49)	2.60	(2.96)	8.38
INIYX	1.26	(0.16)	(0.48)	2.59	(3.03)	8.26
INIIX	1.26	(0.16)	(0.48)	2.59	(3.02)	8.42

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