Mydestination 2045 Correlations

GMFZX Fund

USD 11.75 0.08 0.68%

The current 90-days correlation between Mydestination 2045 and Fidelity Flex Servative is -0.15 (i.e., Good diversification). The correlation of Mydestination 2045 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.

Mydestination 2045 Correlation With Market

Very weak diversification

The correlation between Mydestination 2045 Fund and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mydestination 2045 Fund 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 Mydestination 2045 Fund. 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 Mydestination Mutual Fund

0.88	GCOZX	Growth Allocation	Pair Corr
0.71	GDMYX	Defensive Market Str	Pair Corr
0.71	GDMZX	Defensive Market Str	Pair Corr
0.81	GVEZX	Value Equity Investor	Pair Corr
0.91	GVIYX	Guidestone Value Equity	Pair Corr
0.9	GVIZX	Guidestone Value Equity	Pair Corr
0.8	GEMYX	Emerging Markets Equity	Pair Corr
0.78	GEMZX	Emerging Markets Equity	Pair Corr
0.81	GEQYX	Equity Index Institu	Pair Corr
0.89	GEQZX	Equity Index Investor	Pair Corr
0.87	GFIZX	Conservative Allocation	Pair Corr
0.61	GFSYX	Strategic Alternatives	Pair Corr
0.89	GGBZX	Aggressive Allocation	Pair Corr
0.68	GGBEX	Global Bond Fund	Pair Corr
0.68	GGBFX	Global Bond Fund	Pair Corr
0.94	GGIZX	Balanced Allocation	Pair Corr
0.86	GGRYX	Growth Allocation	Pair Corr
0.79	GIEYX	International Equity	Pair Corr
0.8	GIEZX	International Equity	Pair Corr
0.76	GIIYX	International Equity	Pair Corr
0.72	GIIZX	Guidestone Funds Int	Pair Corr
0.96	GMEZX	Guidestone Funds Impact	Pair Corr
0.86	GMHYX	Mydestination 2035	Pair Corr
0.97	GMHZX	Mydestination 2035	Pair Corr
0.99	GMGYX	Mydestination 2055	Pair Corr
0.99	GMGZX	Mydestination 2055	Pair Corr

Related Correlations Analysis

	FUEMX	TASTX	CRDSX	DULTX	CMGUX	RSDIX	SUSAX	CDICX
FUEMX		0.96	0.92	0.96	0.96	0.96	0.97	0.91	FUEMX
TASTX	0.96		0.97	0.92	0.91	0.99	0.95	0.96	TASTX
CRDSX	0.92	0.97		0.87	0.87	0.96	0.9	0.97	CRDSX
DULTX	0.96	0.92	0.87		0.98	0.94	0.98	0.85	DULTX
CMGUX	0.96	0.91	0.87	0.98		0.94	0.99	0.85	CMGUX
RSDIX	0.96	0.99	0.96	0.94	0.94		0.97	0.94	RSDIX
SUSAX	0.97	0.95	0.9	0.98	0.99	0.97		0.88	SUSAX
CDICX	0.91	0.96	0.97	0.85	0.85	0.94	0.88		CDICX
	FUEMX	TASTX	CRDSX	DULTX	CMGUX	RSDIX	SUSAX	CDICX

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Risk-Adjusted Indicators

There is a big difference between Mydestination Mutual Fund performing well and Mydestination 2045 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 Mydestination 2045'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FUEMX	0.05	0.00	0.00	0.00	0.00	0.20	(0.10)	0.50
TASTX	0.08	0.02	0.81	(0.60)	(0.17)	0.21	(0.10)	0.72
CRDSX	0.08	0.02	0.88	(0.76)	(0.13)	0.21	(0.10)	0.42
DULTX	0.05	0.02	0.00	(0.88)	0.00	0.40	0.00	0.61
CMGUX	0.04	0.00	0.00	0.00	0.00	0.11	0.00	0.54
RSDIX	0.09	0.02	0.86	(0.50)	(0.16)	0.21	(0.10)	0.73
SUSAX	0.06	0.01	0.93	(0.66)	(0.17)	0.10	(0.10)	0.51
CDICX	0.08	0.02	0.81	0.70	(0.12)	0.26	(0.13)	0.65

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Mydestination 2045 Correlations

Mydestination 2045 Correlation With Market

Very weak diversification

Moving together with Mydestination Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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