Grandeur Peak Correlations

GPGCX Etf

USD 16.16 0.10 0.62%

The current 90-days correlation between Grandeur Peak Global and Grandeur Peak Stalwarts is 0.63 (i.e., Poor diversification). The correlation of Grandeur Peak 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.

Grandeur Peak Correlation With Market

Very weak diversification

The correlation between Grandeur Peak Global and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Grandeur Peak Global 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 Grandeur Peak Global. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Grandeur Etf

0.83	GISOX	Grandeur Peak Intern	Pair Corr
0.83	GISYX	Grandeur Peak Intern	Pair Corr
0.8	GPEIX	Grandeur Peak Emerging	Pair Corr
0.8	GPEOX	Grandeur Peak Emerging	Pair Corr
0.74	GPGIX	Grandeur Peak Global	Pair Corr
0.74	GPGOX	Grandeur Peak Global	Pair Corr
0.97	GPIIX	Grandeur Peak Intern	Pair Corr
0.97	GPIOX	Grandeur Peak Intern	Pair Corr
0.92	GPMCX	Grandeur Peak Global	Pair Corr
0.81	GPRIX	Grandeur Peak Global	Pair Corr
0.81	GPROX	Grandeur Peak Global	Pair Corr

Related Correlations Analysis

	GUSYX	GPGCX	DHDG	Z	MBCC	MBBB	BZDYF	DHSB
GUSYX		0.29	0.8	0.75	0.65	-0.58	0.0	-0.08	GUSYX
GPGCX	0.29		0.66	0.58	0.7	0.41	0.0	-0.16	GPGCX
DHDG	0.8	0.66		0.84	0.94	-0.07	0.0	-0.14	DHDG
Z	0.75	0.58	0.84		0.83	-0.04	0.0	-0.04	Z
MBCC	0.65	0.7	0.94	0.83		0.13	0.0	-0.15	MBCC
MBBB	-0.58	0.41	-0.07	-0.04	0.13		0.0	0.0	MBBB
BZDYF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	BZDYF
DHSB	-0.08	-0.16	-0.14	-0.04	-0.15	0.0	0.0		DHSB
	GUSYX	GPGCX	DHDG	Z	MBCC	MBBB	BZDYF	DHSB

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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

MBCC	+ 0.94	DHDG
Z	+ 0.84	DHDG
MBCC	+ 0.83	Z
DHDG	+ 0.8	GUSYX
Z	+ 0.75	GUSYX
MBCC	+ 0.7	GPGCX

High negative correlations

MBBB	- 0.58	GUSYX
DHSB	- 0.16	GPGCX
DHSB	- 0.15	MBCC
DHSB	- 0.14	DHDG
DHSB	- 0.08	GUSYX
MBBB	- 0.07	DHDG

Grandeur Peak Constituents Risk-Adjusted Indicators

There is a big difference between Grandeur Etf performing well and Grandeur Peak ETF 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 Grandeur Peak'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
GUSYX	0.97	(0.15)	0.00	(0.22)	0.00	0.00	1.64	(2.90)	5.45
GPGCX	0.62	(0.03)	0.00	(0.12)	0.00	0.00	1.50	(1.71)	3.85
DHDG	0.43	(0.02)	0.00	(0.12)	0.00	0.00	0.87	(0.94)	2.86
Z	1.90	(0.05)	0.00	(0.10)	0.00	0.00	3.23	(4.38)	14.24
MBCC	0.76	(0.02)	0.00	(0.09)	0.00	0.00	1.34	(2.25)	4.26
MBBB	0.25	0.01	0.24	0.10	0.26	(0.27)	0.52	(0.51)	1.48
BZDYF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DHSB	0.37	(0.08)	0.00	(0.48)	0.00	0.00	0.82	(0.74)	1.68

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