GMO Opportunistic Correlations

GAAAX Fund  USD 24.07  0.03  0.12%   
The correlation of GMO Opportunistic is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as GMO Opportunistic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GMO Opportunistic Income moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Please check Risk vs Return Analysis.
  
The ability to find closely correlated positions to GMO Opportunistic could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GMO Opportunistic when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back GMO Opportunistic - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling GMO Opportunistic Income to buy it.

Moving together with GMO Opportunistic

+0.91BSIIXBlackRock StrategicPairCorr
+0.92BSICXBlackRock StrategicPairCorr
+0.91BSIKXBlackRock StrategicPairCorr
+0.93BASIXBlackRock StrategicPairCorr
+0.91TEGBXTEMPLETON GLOBAL BONDPairCorr
+0.9TGBAXTEMPLETON GLOBAL BONDPairCorr
+0.83JSOSXJPMORGAN STRATEGIC INCOMEPairCorr
+0.78JSOCXJPMORGAN STRATEGIC INCOMEPairCorr
+0.84JSORXJPMORGAN STRATEGIC INCOMEPairCorr
+0.81JSOAXJPMORGAN STRATEGIC INCOMEPairCorr
+0.86VTSNXVANGUARD TOTAL INTERPairCorr
+0.86VTISXVANGUARD TOTAL INTERPairCorr

Related Correlations

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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
ABHYXLBHIX
FMCDXOALC
LBHIXOALC
ABHYXOALC
FNGUOALC
LBHIXFMCDX
  
High negative correlations   
ABHYXPOWRW
LBHIXPOWRW
LBHIXMLGO
ABHYXMLGO
POWRWOALC
FMCDXPOWRW

Risk-Adjusted Indicators

Nowadays, there is a big difference between GAAAX Mutual Fund performing well and GMO Opportunistic Mutual Fund doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze GMO Opportunistic's multiple risk-adjusted performance indicators. 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
Information
Ratio
Expected
Shortfall
Potential
Upside
Value
At Risk
Maximum
Drawdown
PFE 1.19 (0.12)  0.00 (0.05)  0.00 (0.11)  0.00  3.07 (2.34)  8.67 
OALC 1.08  0.03  0.05  0.18  0.99  0.0457 (1.20)  2.50 (1.55)  8.19 
POWRW 49.94  14.73  0.31  2.08  32.77  0.17 (96.97)  141.00 (61.00)  711.42 
AQUI 5.01  0.49  0.00  0.32  0.00  0.05  0.00  0.00 (3.85)  118.49 
FNGU 5.86  0.21  0.14  0.19  5.61  0.12 (6.64)  12.60 (10.26)  41.39 
BRRAY 7.29  1.01  0.04 (0.57)  9.72  0.05 (13.43)  28.82 (18.07)  68.95 
FMCDX 1.38  0.03  0.03  0.17  1.97  0.0321 (1.45)  2.24 (2.36)  20.08 
MLGO 8.84 (1.10)  0.00 (0.42)  0.00 (0.06)  0.00  24.56 (21.98)  86.05 
LBHIX 0.31  0.03 (0.20)  0.26  0.00 (0.19) (0.52)  0.75 (0.50)  2.55 
ABHYX 0.24  0.10 (0.09)  1.14  0.00 (0.09) (0.36)  0.69 (0.33)  2.25 

Be your own money manager

Our tools can tell you how much better you can do entering a position in GMO Opportunistic without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Invested in GMO Opportunistic Income?

The danger of trading GMO Opportunistic Income is mainly related to its market volatility and Mutual Fund specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of GMO Opportunistic is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than GMO Opportunistic. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile GMO Opportunistic Income is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Please check Risk vs Return Analysis. Note that the GMO Opportunistic Income information on this page should be used as a complementary analysis to other GMO Opportunistic's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Transaction History module to view history of all your transactions and understand their impact on performance.

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When running GMO Opportunistic Income price analysis, check to measure GMO Opportunistic's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy GMO Opportunistic is operating at the current time. Most of GMO Opportunistic's value examination focuses on studying past and present price action to predict the probability of GMO Opportunistic's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move GMO Opportunistic's price. Additionally, you may evaluate how the addition of GMO Opportunistic to your portfolios can decrease your overall portfolio volatility.
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Please note, there is a significant difference between GMO Opportunistic's value and its price as these two are different measures arrived at by different means. Investors typically determine GMO Opportunistic value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, GMO Opportunistic's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.