Gmo International Correlations

Mutual Funds . USA . 
Fund . Gmo International Equity
GMCFX Fund  USD 24.38  0.07  0.29%   
The current 90-days correlation between Gmo International Equity and California High Yield Municipal is 0.03 (i.e., Significant diversification). The correlation of Gmo International 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 International Correlation With Market

Good diversification

The correlation between Gmo International Equity and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gmo International Equity 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 International Equity. 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 census.

Moving together with Gmo Mutual Fund

  0.72GUGAX Gmo E PlusPairCorr
  0.68GEACX Gmo TrustPairCorr
  0.68GEMEX Gmo Emerging MarketsPairCorr
  0.67GEMMX Gmo Emerging MarketsPairCorr
  0.68GEMNX Gmo Emerging MarketsPairCorr
  0.97GIEAX Gmo International EquityPairCorr
  0.96GIMFX Gmo ImplementationPairCorr
  1.0GIOTX Gmo InternationalPairCorr
  0.91GMAZX Gmo InternationalPairCorr
  0.72GMADX Gmo Global EquityPairCorr
  0.8GMAHX Gmo Usonian JapanPairCorr
  0.8GMAKX Gmo Usonian JapanPairCorr
  0.9GMAQX Gmo Emerging MarketsPairCorr
  0.68GMEMX Gmo Emerging MarketsPairCorr
  0.64GMOEX Gmo Emerging MarketsPairCorr
  1.0GMOIX Gmo International EquityPairCorr
  0.68GMOWX Gmo ResourcesPairCorr
  0.94GMWAX Gmo Global AssetPairCorr
  0.94GMWRX Gmo Global AssetPairCorr
  0.68GOFIX Gmo ResourcesPairCorr
  0.72GPBFX Gmo E PlusPairCorr

Moving against Gmo Mutual Fund

  0.4GMCQX Gmo Equity AllocationPairCorr
  0.32GUSOX Gmo TrustPairCorr
  0.4GMUEX Gmo Equity AllocationPairCorr

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   
CBSYX
+ 1.0
CABIX
LBETX
+ 0.82
APDFX
CABIX
+ 0.59
BCHIX
CBSYX
+ 0.59
BCHIX
CABIX
+ 0.38
APDFX
CBSYX
+ 0.38
APDFX
  
High negative correlations   
LBETX
- 0.2
BCHIX

Risk-Adjusted Indicators

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