Equity Index Correlations

Mutual Funds . USA . 
Fund . Equity Index Investor
GEQZX Fund  USD 56.39  0.13  0.23%   
The current 90-days correlation between Equity Index Investor and Growth Equity Investor is 0.96 (i.e., Almost no diversification). The correlation of Equity Index 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.

Equity Index Correlation With Market

Poor diversification

The correlation between Equity Index Investor and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Equity Index Investor 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 Equity Index Investor. 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 nation.

Moving together with Equity Mutual Fund

  0.67GCOZX Growth AllocationPairCorr
  0.97GDMYX Defensive Market StrPairCorr
  0.9GDMZX Defensive Market StrPairCorr
  0.76GVEYX Value Equity InstituPairCorr
  0.77GVEZX Value Equity InvestorPairCorr
  0.77GVIYX Guidestone Value EquityPairCorr
  1.0GEQYX Equity Index InstituPairCorr
  0.7GGBZX Aggressive AllocationPairCorr
  0.97GGEYX Guidestone Fds GrowthPairCorr
  0.97GGEZX Growth Equity InvestorPairCorr
  0.66GGRYX Growth AllocationPairCorr
  0.79GMFZX Mydestination 2045PairCorr
  0.81GMGYX Mydestination 2055PairCorr
  0.82GMGZX Mydestination 2055PairCorr
  0.73GMYYX Mydestination 2045PairCorr
  0.76GAGYX Aggressive AllocationPairCorr

Moving against Equity Mutual Fund

  0.58GLDZX Low Duration BondPairCorr
  0.54GLDYX Low Duration BondPairCorr
  0.45GMDZX Medium Duration BondPairCorr
  0.44GMDYX Medium Duration BondPairCorr
  0.38GGBFX Global Bond FundPairCorr
  0.35GGBEX Global Bond FundPairCorr
  0.34GIIYX International EquityPairCorr
  0.34GIIZX Guidestone Funds IntPairCorr
  0.49GMBYX Guidestone FundsPairCorr
  0.41GMBZX Guidestone FundsPairCorr

Related Correlations Analysis

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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   
GSCZX
+ 0.87
GGEZX
GREZX
+ 0.73
GIEZX
GREZX
+ 0.67
GVEZX
GVEZX
+ 0.61
GGEZX
GSCZX
+ 0.52
GVEZX
GIEZX
+ 0.31
GVEZX
  
High negative correlations   
GIEZX
- 0.56
GSCZX
GIEZX
- 0.48
GGEZX
GREZX
- 0.16
GSCZX

Risk-Adjusted Indicators

There is a big difference between Equity Mutual Fund performing well and Equity Index 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 Equity Index'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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