Guidepath(r) Multi-asset Correlations

GPMIX Fund

USD 11.14 0.04 0.36%

The current 90-days correlation between Guidepath(r) Multi-asset and Small Pany Growth is 0.63 (i.e., Poor diversification). The correlation of Guidepath(r) Multi-asset 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) Multi-asset Correlation With Market

Poor diversification

The correlation between Guidepath Multi Asset Income and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guidepath Multi Asset Income 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 Multi Asset Income. 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 gross domestic product.

Moving together with Guidepath(r) Mutual Fund

0.91	GPARX	Guidepath Absolute Return	Pair Corr
0.91	GPICX	Guidepath Conservative	Pair Corr
0.95	GPIFX	Guidepath Flexible Income	Pair Corr
0.94	GPINX	Guidepath Income	Pair Corr
0.79	TREMX	T Rowe Price	Pair Corr
0.61	LSHUX	Horizon Spin Off	Pair Corr
0.61	LSHAX	Horizon Spin Off	Pair Corr
0.65	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.8	MUAIX	Ultra Short Income	Pair Corr
0.81	LSYNX	Lord Abbett Short	Pair Corr
0.81	CPPAX	American Funds Prese	Pair Corr
0.68	FWIRX	Nuveen Wisconsin Mun	Pair Corr
0.83	CLDRX	Columbia Limited Duration	Pair Corr
0.78	NEWCX	New World Fund	Pair Corr
0.92	PIPTX	Virtus Kar Global	Pair Corr
0.72	KGIIX	Kopernik International	Pair Corr
0.77	THCAX	Thornburg Core Plus	Pair Corr
0.97	MXKVX	Great West Servative	Pair Corr
0.82	FEHRX	First Eagle High	Pair Corr

Moving against Guidepath(r) Mutual Fund

0.61	SMPSX	Semiconductor Ultrasector	Pair Corr
0.6	SMPIX	Semiconductor Ultrasector	Pair Corr
0.57	GPMFX	Guidepath Managed Futures	Pair Corr

Related Correlations Analysis

	MSSGX	CMPAX	TVOYX	OWSMX	LMBMX	TISVX	ARTSX
MSSGX		0.88	0.89	0.7	0.96	-0.5	0.87	MSSGX
CMPAX	0.88		0.98	0.74	0.96	-0.52	0.93	CMPAX
TVOYX	0.89	0.98		0.8	0.96	-0.43	0.91	TVOYX
OWSMX	0.7	0.74	0.8		0.71	0.11	0.68	OWSMX
LMBMX	0.96	0.96	0.96	0.71		-0.57	0.93	LMBMX
TISVX	-0.5	-0.52	-0.43	0.11	-0.57		-0.57	TISVX
ARTSX	0.87	0.93	0.91	0.68	0.93	-0.57		ARTSX
	MSSGX	CMPAX	TVOYX	OWSMX	LMBMX	TISVX	ARTSX

Click cells to compare fundamentals

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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

TVOYX	+ 0.98	CMPAX
LMBMX	+ 0.96	MSSGX
LMBMX	+ 0.96	CMPAX
LMBMX	+ 0.96	TVOYX
ARTSX	+ 0.93	CMPAX
ARTSX	+ 0.93	LMBMX

High negative correlations

ARTSX	- 0.57	TISVX
TISVX	- 0.57	LMBMX
TISVX	- 0.52	CMPAX
TISVX	- 0.5	MSSGX
TISVX	- 0.43	TVOYX

Risk-Adjusted Indicators

There is a big difference between Guidepath(r) Mutual Fund performing well and Guidepath(r) Multi-asset 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) Multi-asset'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	1.80	(0.18)	0.00	(0.11)	0.00	0.00	3.81	(3.91)	9.53
CMPAX	0.77	(0.11)	0.00	(0.12)	0.00	0.00	1.21	(1.63)	3.50
TVOYX	0.86	(0.11)	0.00	(0.10)	0.00	0.00	1.52	(1.95)	4.01
OWSMX	0.68	(0.08)	0.00	(0.11)	0.00	0.00	1.19	(1.37)	3.89
LMBMX	1.02	(0.15)	0.00	(0.13)	0.00	0.00	2.03	(2.43)	5.60
TISVX	0.79	0.10	0.06	0.14	1.23	(0.77)	1.99	(1.65)	9.81
ARTSX	1.18	(0.13)	0.00	0.89	0.00	0.00	2.24	(3.17)	5.69

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