Global Multi-strategy Correlations

Mutual Funds . USA . 
Fund . Global Multi Strategy Fund
PSMIX Fund  USD 11.88  0.04  0.34%   
The current 90-days correlation between Global Multi Strategy and Fidelity Sai Inflationfocused is 0.01 (i.e., Significant diversification). The correlation of Global Multi-strategy 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 Multi-strategy Correlation With Market

Very poor diversification

The correlation between Global Multi Strategy Fund and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Multi Strategy Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Global Multi Strategy Fund. 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 Global Mutual Fund

  0.92PMDDX Small Midcap DividendPairCorr
  0.97PSBMX Smallcap Fund FkaPairCorr
  0.99PSIJX Smallcap GrowthPairCorr
  0.85PCMFX California MunicipalPairCorr
  0.92BIMBX Blackrock AlternativePairCorr
  0.92BAMBX Blackrock AlternativePairCorr
  0.91BMBCX Blackrock AlternativePairCorr
  0.92BKMBX Blackrock SystematicPairCorr
  0.95BXMYX Blackstone AlternativePairCorr
  0.94GARTX Goldman Sachs AbsolutePairCorr
  0.95GCRTX Goldman Sachs AbsolutePairCorr
  0.96BXMIX Blackstone AlternativePairCorr
  0.98BXMDX Blackstone AlternativePairCorr
  0.97BRUFX Bruce Fund BrucePairCorr
  0.86SPGSX State Street PremierPairCorr
  0.85KF Korea ClosedPairCorr
  0.91FLSKX Franklin Lifesmart 2050PairCorr
  0.98HRACX Hartford GrowthPairCorr
  0.9FOTAX Nuveen Oregon IntermPairCorr
  0.79CGWRX Columbia Large CapPairCorr
  0.97PGIUX Virtus Global InfrasPairCorr
  0.92GABAX Gabelli AssetPairCorr
  0.81BLZKX Blackrock Advantage EsgPairCorr
  0.73RICBX Investment Of AmericaPairCorr
  0.98VSMIX Invesco Small CapPairCorr
  0.92ETCDX Eventide Global DividendPairCorr
  0.94FGKMX Fidelity Advisor ComPairCorr
  0.87AHYCX Invesco High YieldPairCorr
  0.9PNAIX T Rowe PricePairCorr
  0.91HCACX Hartford CapitalPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Global Mutual Fund performing well and Global Multi-strategy 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 Multi-strategy'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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