Mydestination 2015 Correlations

GMTYX Fund  USD 9.86  0.01  0.10%   
The current 90-days correlation between Mydestination 2015 and Transamerica Mlp Energy is 0.58 (i.e., Very weak diversification). The correlation of Mydestination 2015 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 2015 Correlation With Market

Poor diversification

The correlation between Mydestination 2015 Fund and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mydestination 2015 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 2015 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

  0.93GCOZX Growth AllocationPairCorr
  0.84GVEYX Value Equity InstituPairCorr
  0.84GVEZX Value Equity InvestorPairCorr
  0.82GVIYX Guidestone Value EquityPairCorr
  0.82GVIZX Guidestone Value EquityPairCorr
  0.74GEMYX Emerging Markets EquityPairCorr
  0.74GEMZX Emerging Markets EquityPairCorr
  0.99GFIZX Conservative AllocationPairCorr
  0.73GFSYX Strategic AlternativesPairCorr
  0.74GFSZX Strategic AlternativesPairCorr
  0.87GGBZX Aggressive AllocationPairCorr
  0.72GGBEX Global Bond FundPairCorr
  0.69GGBFX Global Bond FundPairCorr
  0.99GGIZX Balanced AllocationPairCorr
  0.94GGRYX Growth AllocationPairCorr
  0.74GIEYX International EquityPairCorr
  0.74GIEZX International EquityPairCorr
  0.71GIIYX International EquityPairCorr
  0.72GIIZX Guidestone Funds IntPairCorr
  0.65GMDYX Medium Duration BondPairCorr
  0.64GMDZX Medium Duration BondPairCorr
  0.61GMBZX Guidestone FundsPairCorr
  0.86GMFZX Mydestination 2045PairCorr
  0.94GMEYX Guidestone Funds ImpactPairCorr
  0.94GMEZX Guidestone Funds ImpactPairCorr
  0.93GMHYX Mydestination 2035PairCorr
  0.92GMHZX Mydestination 2035PairCorr
  0.84GMGYX Mydestination 2055PairCorr
  0.84GMGZX Mydestination 2055PairCorr

Related Correlations Analysis

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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   
INRSXIGNAX
ALEFXTMCLX
IEFCXVENAX
VENAXTMCLX
IEFCXTMCLX
ALEFXVENAX
  
High negative correlations   
TREIXIGNAX
INRSXTREIX

Risk-Adjusted Indicators

There is a big difference between Mydestination Mutual Fund performing well and Mydestination 2015 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 2015'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.