Gurtin National Correlations

GNMFX Fund

USD 9.75 0.04 0.41%

The current 90-days correlation between Gurtin National Municipal and Small Pany Growth is 0.1 (i.e., Average diversification). The correlation of Gurtin National 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.

Gurtin National Correlation With Market

Good diversification

The correlation between Gurtin National Municipal and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gurtin National Municipal 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 Gurtin National Municipal. 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 census.

Moving together with Gurtin Mutual Fund

0.82	GCMVX	Gurtin California Muni	Pair Corr
0.99	GCMFX	Gurtin California	Pair Corr
0.81	GNMVX	Gurtin National Muni	Pair Corr
0.87	VWITX	Vanguard Intermediate	Pair Corr
0.74	VWIUX	Vanguard Intermediate-ter	Pair Corr
0.86	AFTEX	Tax Exempt Bond	Pair Corr
0.89	AFTFX	Tax Exempt Bond	Pair Corr
0.88	TEBCX	Tax Exempt Bond	Pair Corr
0.86	TEAFX	Tax Exempt Bond	Pair Corr
0.87	TFEBX	Tax Exempt Bond	Pair Corr
0.81	FLTMX	Fidelity Intermediate	Pair Corr
0.85	MDNLX	Blackrock National	Pair Corr
0.87	MFNLX	Blackrock Natl Muni	Pair Corr
0.63	VBIAX	Vanguard Balanced Index	Pair Corr
0.62	FOCIX	Fairholme Focused	Pair Corr
0.69	VSMAX	Vanguard Small Cap	Pair Corr

Moving against Gurtin Mutual Fund

0.49	RPIEX	T Rowe Price	Pair Corr
0.31	JSOSX	Jpmorgan Strategic Income	Pair Corr

Related Correlations Analysis

	MSSGX	IIFTX	OPTCX	RETSX	SMPIX	ADGAX	ALNVX
MSSGX		0.81	0.97	0.69	-0.28	-0.16	0.05	MSSGX
IIFTX	0.81		0.84	0.94	0.03	0.27	0.43	IIFTX
OPTCX	0.97	0.84		0.74	-0.2	-0.1	0.04	OPTCX
RETSX	0.69	0.94	0.74		0.27	0.48	0.37	RETSX
SMPIX	-0.28	0.03	-0.2	0.27		0.41	-0.08	SMPIX
ADGAX	-0.16	0.27	-0.1	0.48	0.41		0.54	ADGAX
ALNVX	0.05	0.43	0.04	0.37	-0.08	0.54		ALNVX
	MSSGX	IIFTX	OPTCX	RETSX	SMPIX	ADGAX	ALNVX

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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

OPTCX	+ 0.97	MSSGX
RETSX	+ 0.94	IIFTX
OPTCX	+ 0.84	IIFTX
IIFTX	+ 0.81	MSSGX
RETSX	+ 0.74	OPTCX
RETSX	+ 0.69	MSSGX

High negative correlations

SMPIX	- 0.28	MSSGX
SMPIX	- 0.2	OPTCX
ADGAX	- 0.16	MSSGX
ADGAX	- 0.1	OPTCX
ALNVX	- 0.08	SMPIX

Risk-Adjusted Indicators

There is a big difference between Gurtin Mutual Fund performing well and Gurtin National 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 Gurtin National'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
MSSGX	1.57	0.52	0.28	49.23	1.39	(1.93)	3.81	(2.26)	11.77
IIFTX	0.26	0.00	0.01	0.03	0.38	(0.26)	0.50	(0.50)	2.36
OPTCX	0.15	0.03	0.16	1.27	0.00	(0.22)	0.32	(0.21)	1.35
RETSX	0.56	0.03	0.03	0.15	0.82	(0.58)	1.03	(1.02)	5.86
SMPIX	2.61	0.05	0.01	0.06	3.99	(2.38)	4.94	(6.36)	19.56
ADGAX	0.77	(0.08)	0.00	(0.32)	0.00	0.00	0.98	(1.63)	12.11
ALNVX	0.17	(0.03)	0.00	(4.71)	0.00	0.00	0.32	(0.43)	1.29

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