Gurtin California Correlations

GCMFX Fund

USD 9.81 0.01 0.10%

The current 90-days correlation between Gurtin California and Gurtin California Muni is -0.19 (i.e., Good diversification). The correlation of Gurtin California 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.

Gurtin California Correlation With Market

Good diversification

The correlation between Gurtin California Municipal and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gurtin California Municipal 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 Gurtin California Municipal. 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 Gurtin Mutual Fund

0.72	GCMVX	Gurtin California Muni	Pair Corr
0.71	GNMVX	Gurtin National Muni	Pair Corr
0.76	VCAIX	Vanguard California	Pair Corr
0.75	VCADX	Vanguard California	Pair Corr
0.8	MKCMX	Blackrock California	Pair Corr
0.79	MACMX	Brf Clf Mpl	Pair Corr
0.79	MDCMX	Brf Clf Mplop	Pair Corr
0.79	MECMX	Brf Clf Mpl	Pair Corr
0.77	MFCMX	Brf Clf Mpl	Pair Corr
0.74	BCIAX	California Intermediate	Pair Corr
0.85	BCIYX	California Intermediate	Pair Corr
0.76	BCITX	California Intermediate-ter	Pair Corr
0.62	VSMAX	Vanguard Small Cap	Pair Corr
0.68	GAB	Gabelli Equity Trust	Pair Corr

Moving against Gurtin Mutual Fund

0.42	RPIEX	T Rowe Price	Pair Corr
0.38	JSOSX	Jpmorgan Strategic Income	Pair Corr

Related Correlations Analysis

	GCMVX	GCMFX	GNMVX	FXAIX	PRMTX	PBSIX	VIGAX	VFIAX	VFINX	LOTCX
GCMVX		0.72	0.99	0.1	0.02	0.17	-0.03	0.1	0.11	0.17	GCMVX
GCMFX	0.72		0.71	0.4	0.34	0.53	0.19	0.4	0.4	0.27	GCMFX
GNMVX	0.99	0.71		0.06	-0.04	0.14	-0.1	0.06	0.06	0.12	GNMVX
FXAIX	0.1	0.4	0.06		0.92	0.93	0.93	1.0	1.0	0.67	FXAIX
PRMTX	0.02	0.34	-0.04	0.92		0.88	0.93	0.92	0.92	0.65	PRMTX
PBSIX	0.17	0.53	0.14	0.93	0.88		0.79	0.93	0.93	0.54	PBSIX
VIGAX	-0.03	0.19	-0.1	0.93	0.93	0.79		0.93	0.93	0.74	VIGAX
VFIAX	0.1	0.4	0.06	1.0	0.92	0.93	0.93		1.0	0.67	VFIAX
VFINX	0.11	0.4	0.06	1.0	0.92	0.93	0.93	1.0		0.67	VFINX
LOTCX	0.17	0.27	0.12	0.67	0.65	0.54	0.74	0.67	0.67		LOTCX
	GCMVX	GCMFX	GNMVX	FXAIX	PRMTX	PBSIX	VIGAX	VFIAX	VFINX	LOTCX

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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

VFIAX	+ 1.0	FXAIX
VFINX	+ 1.0	FXAIX
VFINX	+ 1.0	VFIAX
GNMVX	+ 0.99	GCMVX
PBSIX	+ 0.93	FXAIX
VIGAX	+ 0.93	FXAIX

High negative correlations

VIGAX	- 0.1	GNMVX
PRMTX	- 0.04	GNMVX
VIGAX	- 0.03	GCMVX

Risk-Adjusted Indicators

There is a big difference between Gurtin Mutual Fund performing well and Gurtin California 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 Gurtin California'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
GCMVX	0.12	(0.03)	0.00	(1.97)	0.00	0.00	0.20	(0.30)	0.90
GCMFX	0.16	(0.03)	0.00	0.66	0.00	0.00	0.31	(0.40)	1.23
GNMVX	0.12	(0.03)	0.00	(1.57)	0.00	0.00	0.20	(0.30)	1.00
FXAIX	0.56	0.06	0.05	1.12	0.74	(0.56)	1.10	(1.10)	5.47
PRMTX	0.70	0.16	0.12	1.09	0.97	(0.70)	1.40	(1.68)	5.63
PBSIX	0.93	0.11	0.07	0.50	1.09	(1.03)	2.19	(1.27)	9.64
VIGAX	0.74	0.14	0.10	4.44	0.92	(0.73)	1.64	(1.49)	5.89
VFIAX	0.56	0.06	0.05	1.12	0.74	(0.56)	1.10	(1.10)	5.48
VFINX	0.56	0.06	0.05	1.12	0.74	(0.56)	1.10	(1.10)	5.48
LOTCX	0.59	(0.02)	0.00	(0.21)	0.00	0.00	1.01	(1.50)	3.31

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