Gateway Equity Correlations

GCPCX Fund

USD 19.14 0.02 0.10%

The current 90-days correlation between Gateway Equity Call and Asg Managed Futures is 0.25 (i.e., Modest diversification). The correlation of Gateway Equity 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.

Gateway Equity Correlation With Market

Poor diversification

The correlation between Gateway Equity Call and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gateway Equity Call 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 Gateway Equity Call. 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 main economic indicators.

Moving together with Gateway Mutual Fund

0.75	AMFAX	Asg Managed Futures	Pair Corr
0.75	AMFNX	Asg Managed Futures	Pair Corr
0.82	NOANX	Natixis Oakmark	Pair Corr
1.0	GCPAX	Gateway Equity Call	Pair Corr
1.0	GCPNX	Gateway Equity Call	Pair Corr
1.0	GCPYX	Gateway Equity Call	Pair Corr
0.83	LGMAX	Loomis Sayles Global	Pair Corr
0.83	LGMCX	Loomis Sayles Global	Pair Corr
0.83	LGMNX	Loomis Sayles Global	Pair Corr
0.9	LGRCX	Loomis Sayles Growth	Pair Corr
0.93	LGRNX	Loomis Sayles Growth	Pair Corr
0.92	LGRRX	Loomis Sayles Growth	Pair Corr
0.92	VNSYX	Vaughan Nelson Select	Pair Corr
0.92	VNSCX	Vaughan Nelson Select	Pair Corr
0.92	VNSAX	Vaughan Nelson Select	Pair Corr
0.92	VNSNX	Vaughan Nelson Select	Pair Corr
0.63	VNVCX	Vaughan Nelson Value	Pair Corr
0.67	VNVAX	Vaughan Nelson Value	Pair Corr
0.67	VNVNX	Vaughan Nelson Value	Pair Corr
0.67	VNVYX	Vaughan Nelson Value	Pair Corr
0.62	LIGCX	Loomis Sayles Intern	Pair Corr
0.61	LIGGX	Loomis Sayles Intern	Pair Corr
0.61	LIGNX	Loomis Sayles Intern	Pair Corr
0.82	NSFLX	Natixis Sustainable	Pair Corr
0.83	NSFKX	Natixis Sustainable	Pair Corr
0.79	NSFJX	Natixis Sustainable	Pair Corr

Moving against Gateway Mutual Fund

0.56	LGANX	Loomis Sayles Limited	Pair Corr
0.37	NOIAX	Natixis Oakmark Inte	Pair Corr
0.37	NOICX	Natixis Oakmark Inte	Pair Corr
0.37	NOIYX	Natixis Oakmark Intl	Pair Corr
0.37	LGBNX	Loomis Sayles Investment	Pair Corr
0.35	LGBCX	Loomis Sayles Investment	Pair Corr
0.36	LIGAX	Loomis Sayles Investment	Pair Corr
0.35	LIGRX	Loomis Sayles Investment	Pair Corr

Related Correlations Analysis

	AMFNX	NOANX	NOIAX	NOICX	GCPAX	GCPCX	GCPNX	NOIYX	GCPYX
AMFNX		0.45	-0.77	-0.77	0.74	0.75	0.74	-0.77	0.74	AMFNX
NOANX	0.45		-0.13	-0.13	0.81	0.82	0.81	-0.13	0.82	NOANX
NOIAX	-0.77	-0.13		1.0	-0.35	-0.37	-0.34	1.0	-0.34	NOIAX
NOICX	-0.77	-0.13	1.0		-0.35	-0.37	-0.34	1.0	-0.34	NOICX
GCPAX	0.74	0.81	-0.35	-0.35		1.0	1.0	-0.35	1.0	GCPAX
GCPCX	0.75	0.82	-0.37	-0.37	1.0		1.0	-0.37	1.0	GCPCX
GCPNX	0.74	0.81	-0.34	-0.34	1.0	1.0		-0.34	1.0	GCPNX
NOIYX	-0.77	-0.13	1.0	1.0	-0.35	-0.37	-0.34		-0.34	NOIYX
GCPYX	0.74	0.82	-0.34	-0.34	1.0	1.0	1.0	-0.34		GCPYX
	AMFNX	NOANX	NOIAX	NOICX	GCPAX	GCPCX	GCPNX	NOIYX	GCPYX

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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

NOICX	+ 1.0	NOIAX
NOIYX	+ 1.0	NOIAX
NOIYX	+ 1.0	NOICX
GCPCX	+ 1.0	GCPAX
GCPNX	+ 1.0	GCPAX
GCPYX	+ 1.0	GCPAX

High negative correlations

NOIYX	- 0.77	AMFNX
NOICX	- 0.77	AMFNX
NOIAX	- 0.77	AMFNX
NOIYX	- 0.37	GCPCX
GCPCX	- 0.37	NOICX
GCPCX	- 0.37	NOIAX

Risk-Adjusted Indicators

There is a big difference between Gateway Mutual Fund performing well and Gateway Equity 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 Gateway Equity'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
AMFNX	0.64	(0.07)	0.00	(0.63)	0.00	0.00	1.04	(1.46)	3.93
NOANX	0.77	(0.04)	0.00	(0.11)	0.00	0.00	1.32	(1.77)	6.81
NOIAX	0.85	0.15	0.16	0.19	0.98	(0.88)	1.74	(1.61)	5.36
NOICX	0.85	0.15	0.16	0.18	0.97	(0.89)	1.83	(1.63)	5.37
GCPAX	0.65	(0.03)	0.00	(0.11)	0.00	0.00	1.07	(1.54)	3.91
GCPCX	0.65	(0.03)	0.00	(0.11)	0.00	0.00	1.09	(1.53)	3.97
GCPNX	0.65	(0.03)	0.00	(0.10)	0.00	0.00	1.02	(1.52)	3.92
NOIYX	0.85	0.15	0.17	0.19	0.96	(0.88)	1.81	(1.62)	5.32
GCPYX	0.66	(0.03)	0.00	(0.10)	0.00	0.00	1.06	(1.51)	3.97

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