Gmo High Correlations

Mutual Funds . USA . 
Fund . Gmo High Yield
GHVIX Fund  USD 17.38  0.01  0.06%   
The current 90-days correlation between Gmo High Yield and Small Midcap Dividend Income is 0.15 (i.e., Average diversification). The correlation of Gmo High 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 High Correlation With Market

Almost no diversification

The correlation between Gmo High Yield and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gmo High Yield 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 High Yield. 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 gross domestic product.

Moving together with Gmo Mutual Fund

  0.81GUGAX Gmo E PlusPairCorr
  0.94GUSOX Gmo TrustPairCorr
  0.92GUSTX Gmo TreasuryPairCorr
  0.84GEACX Gmo TrustPairCorr
  0.82GEMEX Gmo Emerging MarketsPairCorr
  0.85GEMMX Gmo Emerging MarketsPairCorr
  0.82GEMNX Gmo Emerging MarketsPairCorr
  0.96GWOAX Gmo Global DevelopedPairCorr
  0.91IOVFX Gmo InternationalPairCorr
  0.93GIEAX Gmo International EquityPairCorr
  0.92GIMFX Gmo ImplementationPairCorr
  0.94GIOTX Gmo InternationalPairCorr
  0.9GMAWX Gmo Small CapPairCorr
  0.92GMAYX Gmo Small CapPairCorr
  0.92GMAZX Gmo InternationalPairCorr
  0.92GMBCX Gmo InternationalPairCorr
  0.95GMADX Gmo Global EquityPairCorr
  0.92GMAHX Gmo Usonian Japan Steady GrowthPairCorr
  0.92GMAKX Gmo Usonian Japan Steady GrowthPairCorr
  0.89GMAQX Gmo Emerging MarketsPairCorr
  0.89GMAUX Gmo Emerging MarketsPairCorr
  0.91GMDFX Gmo Emerging CountryPairCorr
  0.91GMCDX Gmo Emerging NtryPairCorr
  0.95GMCFX Gmo International EquityPairCorr
  0.93GMCQX Gmo Equity AllocationPairCorr
  0.85GMEMX Gmo Emerging MarketsPairCorr
  0.95GMGEX Gmo Global EquityPairCorr
  0.92GMIIX Gmo Usonian Japan Steady GrowthPairCorr
  0.85GMOEX Gmo Emerging MarketsPairCorr
  0.9GMOHX Gmo Opportunistic IncomePairCorr
  0.95GMOIX Gmo International EquityPairCorr
  0.91GMOLX Gmo Opportunistic IncomePairCorr
  0.95GMOOX Gmo Global AssetPairCorr
  0.94PPADX Gmo TrustPairCorr
  0.94PPAEX Gmo TrustPairCorr
  0.93PPAJX Gmo Opportunistic ValuePairCorr
  0.91GMOQX Gmo Emerging CountryPairCorr
  0.82GMOWX Gmo ResourcesPairCorr
  0.9GMOYX Gmo TrustPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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