Mydestination 2055 Correlations

Mutual Funds . USA . 
Fund . Mydestination 2055 Fund
GMGYX Fund  USD 17.28  0.11  0.63%   
The current 90-days correlation between Mydestination 2055 and Barings Active Short is -0.23 (i.e., Very good diversification). The correlation of Mydestination 2055 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 2055 Correlation With Market

Very weak diversification

The correlation between Mydestination 2055 Fund and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mydestination 2055 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 2055 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 manufacturing.

Moving together with Mydestination Mutual Fund

  0.89GCOZX Growth AllocationPairCorr
  0.66GDMYX Defensive Market StrPairCorr
  0.66GDMZX Defensive Market StrPairCorr
  0.77GVEZX Value Equity InvestorPairCorr
  0.9GVIYX Guidestone Value EquityPairCorr
  0.89GVIZX Guidestone Value EquityPairCorr
  0.82GEMYX Emerging Markets EquityPairCorr
  0.8GEMZX Emerging Markets EquityPairCorr
  0.81GEQYX Equity Index InstituPairCorr
  0.9GEQZX Equity Index InvestorPairCorr
  0.88GFIZX Conservative AllocationPairCorr
  0.89GGBZX Aggressive AllocationPairCorr
  0.67GGBEX Global Bond FundPairCorr
  0.67GGBFX Global Bond FundPairCorr
  0.95GGIZX Balanced AllocationPairCorr
  0.86GGRYX Growth AllocationPairCorr
  0.78GIEYX International EquityPairCorr
  0.79GIEZX International EquityPairCorr
  0.78GIIYX International EquityPairCorr
  0.74GIIZX Guidestone Funds IntPairCorr
  0.99GMFZX Mydestination 2045PairCorr
  0.94GMEZX Guidestone Funds ImpactPairCorr
  0.83GMHYX Mydestination 2035PairCorr
  0.95GMHZX Mydestination 2035PairCorr
  1.0GMGZX Mydestination 2055PairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Mydestination Mutual Fund performing well and Mydestination 2055 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 2055'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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