Guggenheim Macro Correlations

GIOAX Fund

USD 24.80 0.04 0.16%

The current 90-days correlation between Guggenheim Macro Opp and Guggenheim Total Return is 0.8 (i.e., Very poor diversification). The correlation of Guggenheim Macro 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.

Guggenheim Macro Correlation With Market

Significant diversification

The correlation between Guggenheim Macro Opportunities and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guggenheim Macro Opportunities 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 Guggenheim Macro Opportunities. 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 GUGGENHEIM Mutual Fund

0.65

GIBIX

Guggenheim Total Return

Pair Corr

Moving against GUGGENHEIM Mutual Fund

0.37	TVRCX	Guggenheim Directional	Pair Corr
0.35	TVRAX	Guggenheim Directional	Pair Corr
0.35	TVRIX	Guggenheim Directional	Pair Corr
0.46	SVUIX	Guggenheim Mid Cap	Pair Corr
0.45	SFECX	Guggenheim Styleplus	Pair Corr
0.4	SEVSX	Guggenheim Mid Cap	Pair Corr
0.38	SECEX	Guggenheim Styleplus	Pair Corr
0.38	SFEPX	Guggenheim Styleplus	Pair Corr
0.37	SEVAX	Guggenheim Mid Cap	Pair Corr
0.37	SEVPX	Guggenheim Mid Cap	Pair Corr

Related Correlations Analysis

	GIBAX	GIFAX	JSOAX	GIOIX	BEXFX
GIBAX		0.1	-0.13	0.59	0.64	GIBAX
GIFAX	0.1		0.89	0.84	0.06	GIFAX
JSOAX	-0.13	0.89		0.69	0.08	JSOAX
GIOIX	0.59	0.84	0.69		0.46	GIOIX
BEXFX	0.64	0.06	0.08	0.46		BEXFX
	GIBAX	GIFAX	JSOAX	GIOIX	BEXFX

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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

JSOAX	+ 0.89	GIFAX
GIOIX	+ 0.84	GIFAX
GIOIX	+ 0.69	JSOAX
BEXFX	+ 0.64	GIBAX
GIOIX	+ 0.59	GIBAX
BEXFX	+ 0.46	GIOIX

High negative correlations

JSOAX

- 0.13

GIBAX

Risk-Adjusted Indicators

There is a big difference between GUGGENHEIM Mutual Fund performing well and Guggenheim Macro 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 Guggenheim Macro'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
GIBAX	0.24	0.02	0.07	0.47	0.21	(0.26)	0.63	(0.39)	1.54
GIFAX	0.07	0.01	0.17	(0.78)	0.00	(0.15)	0.08	(0.04)	0.76
JSOAX	0.04	0.00	0.00	0.00	0.00	0.00	0.09	(0.09)	0.18
GIOIX	0.09	0.02	0.11	1.02	0.00	(0.13)	0.33	(0.16)	0.82
BEXFX	0.61	0.04	0.04	0.16	0.90	(0.57)	1.34	(1.43)	3.84

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