Guidepath(r) Absolute Correlations

Mutual Funds . USA . 
Fund . Guidepath Absolute Return
GPARX Fund  USD 9.43  0.01  0.11%   
The current 90-days correlation between Guidepath Absolute Return and Rbc Emerging Markets is 0.16 (i.e., Average diversification). The correlation of Guidepath(r) Absolute 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.

Guidepath(r) Absolute Correlation With Market

Modest diversification

The correlation between Guidepath Absolute Return and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guidepath Absolute Return 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 Guidepath Absolute Return. 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 metropolitan statistical area.

Moving together with Guidepath(r) Mutual Fund

  0.91GPICX Guidepath ConservativePairCorr
  0.63GPIFX Guidepath Flexible IncomePairCorr
  0.99GPINX Guidepath IncomePairCorr
  0.9GPMIX Guidepath(r) Multi-assetPairCorr
  0.97VBIRX Vanguard Short TermPairCorr
  0.97VFSUX Vanguard Short TermPairCorr
  0.96VFSIX Vanguard Short TermPairCorr
  0.96VFSTX Vanguard Short TermPairCorr
  0.95VBITX Vanguard Short TermPairCorr
  0.91VBISX Vanguard Short TermPairCorr
  0.91LALDX Lord Abbett ShortPairCorr
  0.97VSCSX Vanguard Short TermPairCorr
  0.91LDLAX Lord Abbett ShortPairCorr
  0.92LDLRX Lord Abbett ShortPairCorr
  0.91VGTSX Vanguard Total InterPairCorr
  0.91VTIAX Vanguard Total InterPairCorr
  0.9VWICX Vanguard InternationalPairCorr
  0.96MRCZX Massmutual RetiresmartPairCorr
  0.96EMBAX Unconstrained EmergingPairCorr
  0.9CIHCX Cullen International HighPairCorr
  0.87DLDFX Destinations Low DurationPairCorr
  0.98ABNOX Ab Bond InflationPairCorr
  0.92VSGDX Vanguard Short TermPairCorr
  0.73RXRPX American Funds RetirementPairCorr
  0.87VGWAX Vanguard Global WellPairCorr
  0.69EVUYX Wells Fargo AdvantagePairCorr
  0.84GF New Germany ClosedPairCorr
  0.94USGDX Morgan Stanley GovernmentPairCorr

Moving against Guidepath(r) Mutual Fund

  0.78GPMFX Guidepath Managed FuturesPairCorr
  0.37VTSAX Vanguard Total StockPairCorr
  0.34VFIAX Vanguard 500 IndexPairCorr
  0.38VTSMX Vanguard Total StockPairCorr
  0.37VITSX Vanguard Total StockPairCorr
  0.35VSMPX Vanguard Total StockPairCorr
  0.35VSTSX Vanguard Total StockPairCorr
  0.34VFINX Vanguard 500 IndexPairCorr
  0.31VFFSX Vanguard 500 IndexPairCorr
  0.38MAPBX Mainstay Map EquityPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Guidepath(r) Mutual Fund performing well and Guidepath(r) Absolute 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 Guidepath(r) Absolute'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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