Gmo Opportunistic Correlations

GMOLX Fund

USD 24.18 0.01 0.04%

The current 90-days correlation between Gmo Opportunistic Income and Dreyfusstandish Global Fixed is 0.81 (i.e., Very poor diversification). The correlation of Gmo Opportunistic 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 Opportunistic Correlation With Market

Average diversification

The correlation between Gmo Opportunistic Income and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gmo Opportunistic Income 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 Opportunistic Income. 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 bureau of economic analysis.

Moving together with Gmo Mutual Fund

0.8	GHVIX	Gmo High Yield	Pair Corr
1.0	GMOHX	Gmo Opportunistic Income	Pair Corr
0.83	BSIKX	Blackrock Strategic	Pair Corr
0.74	BSICX	Blackrock Strategic Opps	Pair Corr
0.8	BASIX	Blackrock Strategic Opps	Pair Corr
0.83	BSIIX	Blackrock Strategic	Pair Corr
0.76	JSORX	Jpmorgan Strategic Income	Pair Corr
0.77	JSOZX	Jpmorgan Strategic Income	Pair Corr
0.75	JSOCX	Jpmorgan Strategic Income	Pair Corr

Moving against Gmo Mutual Fund

0.61	GMAQX	Gmo Emerging Markets	Pair Corr
0.54	GUSOX	Gmo Trust	Pair Corr
0.53	GEMEX	Gmo Emerging Markets	Pair Corr
0.53	GEMMX	Gmo Emerging Markets	Pair Corr
0.53	GEMNX	Gmo Emerging Markets	Pair Corr
0.53	GMOEX	Gmo Emerging Markets	Pair Corr
0.52	GMAZX	Gmo International	Pair Corr
0.52	GMCQX	Gmo Equity Allocation	Pair Corr
0.43	GMAEX	Gmo Quality Cyclicals	Pair Corr
0.43	GMAOX	Gmo Trust	Pair Corr
0.37	GMAWX	Gmo Small Cap	Pair Corr
0.37	GMAYX	Gmo Small Cap	Pair Corr
0.34	GEACX	Gmo Trust	Pair Corr
0.34	GMOWX	Gmo Resources	Pair Corr
0.56	GAAGX	Gmo Alternative Allo	Pair Corr
0.56	GAAKX	Gmo Alternative Allo	Pair Corr
0.54	GAAVX	Gmo Alternative Allo	Pair Corr
0.35	GABFX	Gmo Asset Allocation	Pair Corr
0.34	GAAHX	Gmo Resources	Pair Corr

Related Correlations Analysis

	DHGCX	SMYIX	QLENX	GMADX	OWFIX	AAEZX	PASTX
DHGCX		0.7	0.18	0.47	0.83	0.78	0.69	DHGCX
SMYIX	0.7		0.19	0.62	0.64	0.89	0.95	SMYIX
QLENX	0.18	0.19		0.02	-0.23	0.39	0.15	QLENX
GMADX	0.47	0.62	0.02		0.58	0.63	0.54	GMADX
OWFIX	0.83	0.64	-0.23	0.58		0.7	0.58	OWFIX
AAEZX	0.78	0.89	0.39	0.63	0.7		0.8	AAEZX
PASTX	0.69	0.95	0.15	0.54	0.58	0.8		PASTX
	DHGCX	SMYIX	QLENX	GMADX	OWFIX	AAEZX	PASTX

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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

PASTX	+ 0.95	SMYIX
AAEZX	+ 0.89	SMYIX
OWFIX	+ 0.83	DHGCX
PASTX	+ 0.8	AAEZX
AAEZX	+ 0.78	DHGCX
SMYIX	+ 0.7	DHGCX

High negative correlations

OWFIX

- 0.23

QLENX

Risk-Adjusted Indicators

There is a big difference between Gmo Mutual Fund performing well and Gmo Opportunistic 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 Opportunistic'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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DHGCX	0.16	(0.02)	0.00	(0.39)	0.00	0.00	0.32	(0.36)	0.94
SMYIX	0.63	0.00	(0.02)	0.04	1.06	(0.58)	1.48	(1.31)	4.86
QLENX	0.41	0.12	0.17	0.80	0.15	(0.50)	0.83	(0.63)	2.89
GMADX	0.65	(0.02)	(0.04)	(0.01)	1.27	(0.63)	1.17	(1.28)	11.02
OWFIX	0.16	(0.03)	0.00	(0.47)	0.00	0.00	0.30	(0.40)	1.10
AAEZX	0.25	(0.01)	(0.12)	(0.03)	0.34	(0.29)	0.61	(0.60)	2.01
PASTX	1.19	0.02	0.00	0.08	1.92	(1.10)	2.65	(2.72)	9.45

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