Guggenheim Macro Correlations

GIOIX Fund

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The current 90-days correlation between Guggenheim Macro Opp and Guggenheim Total Return is 0.11 (i.e., Average 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

Weak diversification

The correlation between Guggenheim Macro Opportunities and DJI is 0.32 (i.e., Weak 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 gross domestic product.

Moving together with Guggenheim Mutual Fund

0.62	GUCPX	Gugg Actv Invmt	Pair Corr
0.94	GULDX	Gugg Actv Invmt	Pair Corr
0.64	GURAX	Guggenheim Risk Managed	Pair Corr
0.62	GURCX	Guggenheim Risk Managed	Pair Corr
0.65	GURIX	Guggenheim Risk Managed	Pair Corr
0.64	GURPX	Guggenheim Risk Managed	Pair Corr
0.92	SDICX	Guggenheim Investment	Pair Corr
0.61	SEQAX	Guggenheim World Equity	Pair Corr
0.94	GIBCX	Guggenheim Total Return	Pair Corr
0.93	GIBIX	Guggenheim Total Return	Pair Corr
0.95	GIBLX	Guggenheim Total Return	Pair Corr
0.95	GIBRX	Guggenheim Total Return	Pair Corr
0.95	GIBAX	Guggenheim Total Return	Pair Corr

Moving against Guggenheim Mutual Fund

0.47	TVRCX	Guggenheim Directional	Pair Corr
0.47	TVRAX	Guggenheim Directional	Pair Corr
0.46	TVRIX	Guggenheim Directional	Pair Corr
0.36	SUFCX	Guggenheim Styleplus	Pair Corr
0.55	SEVAX	Guggenheim Mid Cap	Pair Corr
0.53	SECUX	Guggenheim Styleplus	Pair Corr
0.53	SEUPX	Guggenheim Styleplus	Pair Corr
0.52	SECEX	Guggenheim Styleplus	Pair Corr
0.51	SFEPX	Guggenheim Styleplus	Pair Corr
0.41	SFECX	Guggenheim Styleplus	Pair Corr
0.36	SVUIX	Guggenheim Mid Cap	Pair Corr
0.36	SEVSX	Guggenheim Mid Cap	Pair Corr
0.54	GILIX	Guggenheim Styleplus	Pair Corr

Related Correlations Analysis

	GIBIX	GIFIX	GILHX	PONPX	CMNIX
GIBIX		0.33	0.96	0.96	0.75	GIBIX
GIFIX	0.33		0.44	0.41	0.46	GIFIX
GILHX	0.96	0.44		0.99	0.82	GILHX
PONPX	0.96	0.41	0.99		0.82	PONPX
CMNIX	0.75	0.46	0.82	0.82		CMNIX
	GIBIX	GIFIX	GILHX	PONPX	CMNIX

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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
GIBIX	0.24	0.02	0.16	(0.30)	0.21	(0.26)	0.59	(0.39)	1.42
GIFIX	0.07	0.00	0.28	(0.04)	0.00	(0.15)	0.08	(0.17)	0.88
GILHX	0.07	0.01	0.47	1.07	0.00	(0.10)	0.21	(0.08)	0.50
PONPX	0.16	0.04	0.24	0.73	0.00	(0.21)	0.39	(0.28)	1.06
CMNIX	0.11	0.02	0.23	0.10	0.00	(0.15)	0.27	(0.26)	0.80

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