Global Hard Correlations

Mutual Funds . USA . 
Fund . Global Hard Assets
GHACX Fund  USD 34.17  0.26  0.77%   
The current 90-days correlation between Global Hard Assets and Touchstone Ultra Short is -0.1 (i.e., Good 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

Very weak diversification

The correlation between Global Hard Assets and DJI is 0.52 (i.e., Very weak 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 main economic indicators.

Moving together with Global Mutual Fund

  0.68EMRIX Emerging MarketsPairCorr
  0.66EMRCX Emerging MarketsPairCorr
  0.68EMRZX Vaneck Emerging MarketsPairCorr
  0.68EMRYX Emerging MarketsPairCorr
  0.62INIVX International InvestorsPairCorr
  0.62INIYX International InvestorsPairCorr
  0.62INIIX International InvestorsPairCorr
  1.0GHAIX Global Hard AssetsPairCorr
  1.0GHAYX Global Hard AssetsPairCorr
  1.0GHAAX Global Hard AssetsPairCorr
  0.88CMCAX Cm Modity IndexPairCorr
  0.88CMCYX Cm Modity IndexPairCorr
  0.88COMIX Cm Modity IndexPairCorr
  0.62IIGCX International InvestorsPairCorr
  0.67GBFAX Emerging MarketsPairCorr
  0.73TRNEX T Rowe PricePairCorr
  0.84VMIAX Vanguard Materials IndexPairCorr
  0.74PRNEX T Rowe PricePairCorr
  0.78GEACX Gmo TrustPairCorr
  0.78GAAHX Gmo ResourcesPairCorr
  0.78GMOWX Gmo ResourcesPairCorr
  0.86FMFEX Materials PortfolioPairCorr
  0.87FMFAX Materials PortfolioPairCorr
  0.87FMFCX Materials PortfolioPairCorr

Moving against Global Mutual Fund

  0.42FMFFX Fs Managed FuturesPairCorr

Related Correlations Analysis

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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   
FULIX
+ 0.96
TSDCX
FULIX
+ 0.96
AOUNX
AOUNX
+ 0.95
TSDCX
CWFIX
+ 0.86
ASTIX
CWFIX
+ 0.82
TSDCX
CWFIX
+ 0.81
FULIX
  
High negative correlations   
VISTX
- 0.05
ASTIX

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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