Mydestination 2035 Correlations

GMHZX Fund

USD 11.19 0.09 0.81%

The current 90-days correlation between Mydestination 2035 and Baron Select Funds is 0.5 (i.e., Very weak diversification). The correlation of Mydestination 2035 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 2035 Correlation With Market

Good diversification

The correlation between Mydestination 2035 Fund and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mydestination 2035 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 2035 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

0.78	GCOZX	Growth Allocation	Pair Corr
0.94	GDMYX	Defensive Market Str	Pair Corr
0.93	GDMZX	Defensive Market Str	Pair Corr
0.94	GVEZX	Value Equity Investor	Pair Corr
0.88	GEQYX	Equity Index Institu	Pair Corr
0.87	GEQZX	Equity Index Investor	Pair Corr
0.79	GFIZX	Conservative Allocation	Pair Corr
0.67	GFSYX	Strategic Alternatives	Pair Corr
0.68	GFSZX	Strategic Alternatives	Pair Corr
0.84	GGBZX	Aggressive Allocation	Pair Corr
0.8	GGBEX	Global Bond Fund	Pair Corr
0.83	GGBFX	Global Bond Fund	Pair Corr
0.76	GGEYX	Guidestone Fds Growth	Pair Corr
0.86	GGEZX	Growth Equity Investor	Pair Corr
0.75	GGIZX	Balanced Allocation	Pair Corr
0.77	GGRYX	Growth Allocation	Pair Corr
0.83	GIEYX	International Equity	Pair Corr
0.83	GIEZX	International Equity	Pair Corr
0.76	GIIYX	International Equity	Pair Corr
0.76	GIIZX	Guidestone Funds Int	Pair Corr
0.65	GMDYX	Medium Duration Bond	Pair Corr
0.8	GMDZX	Medium Duration Bond	Pair Corr
0.8	GMBYX	Guidestone Funds	Pair Corr
0.61	GMBZX	Guidestone Funds	Pair Corr
0.99	GMEYX	Guidestone Funds Impact	Pair Corr
0.75	GMEZX	Guidestone Funds Impact	Pair Corr
0.93	GMHYX	Mydestination 2035	Pair Corr

Related Correlations Analysis

	BTEEX	TEFQX	CMTFX	DTEYX	TOWTX	BSTSX	WSTCX
BTEEX		0.62	0.86	0.6	0.72	0.62	-0.25	BTEEX
TEFQX	0.62		0.44	0.82	0.77	0.52	0.07	TEFQX
CMTFX	0.86	0.44		0.6	0.54	0.84	-0.05	CMTFX
DTEYX	0.6	0.82	0.6		0.65	0.71	0.36	DTEYX
TOWTX	0.72	0.77	0.54	0.65		0.49	0.05	TOWTX
BSTSX	0.62	0.52	0.84	0.71	0.49		0.31	BSTSX
WSTCX	-0.25	0.07	-0.05	0.36	0.05	0.31		WSTCX
	BTEEX	TEFQX	CMTFX	DTEYX	TOWTX	BSTSX	WSTCX

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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

CMTFX	+ 0.86	BTEEX
BSTSX	+ 0.84	CMTFX
DTEYX	+ 0.82	TEFQX
TOWTX	+ 0.77	TEFQX
TOWTX	+ 0.72	BTEEX
BSTSX	+ 0.71	DTEYX

High negative correlations

WSTCX	- 0.25	BTEEX
WSTCX	- 0.05	CMTFX

Risk-Adjusted Indicators

There is a big difference between Mydestination Mutual Fund performing well and Mydestination 2035 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 2035'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
BTEEX	1.25	(0.09)	0.22	2.35	(4.07)	7.75
TEFQX	1.45	0.04	(0.03)	2.92	(3.02)	8.10
CMTFX	1.18	(0.11)	0.38	1.96	(3.21)	7.85
DTEYX	1.18	(0.05)	(0.16)	1.98	(3.16)	6.52
TOWTX	0.64	(0.06)	0.64	1.19	(1.75)	4.86
BSTSX	1.39	(0.17)	0.66	2.35	(3.59)	9.07
WSTCX	1.63	(0.45)	(3.20)	1.94	(3.25)	29.69

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