Guidepath Multi Correlations

GPMIX Fund

USD 11.13 0.07 0.62%

The correlation of Guidepath Multi 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 Multi Correlation With Market

Good diversification

The correlation between Guidepath Multi Asset Income and DJI is -0.13 (i.e., Good 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 Mutual Fund

0.88	GPARX	Guidepath Absolute Return	Pair Corr
0.94	GPIFX	Guidepath Flexible Income	Pair Corr
0.94	GPIGX	Guidepath Growth And	Pair Corr
0.91	GPINX	Guidepath Income	Pair Corr
0.67	FBONX	American Funds American	Pair Corr
0.67	FBAFX	American Funds American	Pair Corr
0.66	ABALX	American Balanced	Pair Corr
0.65	RLBCX	American Balanced	Pair Corr
0.67	RLBFX	American Balanced	Pair Corr
0.64	LSHEX	Kinetics Spin Off Steady Growth	Pair Corr
0.77	PYUSX	Payden Government	Pair Corr
0.66	SDGFX	Sdit Short Duration	Pair Corr
0.87	BATIX	Bmo Tch Porate	Pair Corr
0.8	GSZAX	Goldman Sachs Strategic	Pair Corr
0.78	GHVIX	Gmo High Yield	Pair Corr
0.88	VWEAX	Vanguard High Yield	Pair Corr
0.89	VGPMX	Vanguard Global Capital	Pair Corr
0.84	GUHYX	Victory High Yield	Pair Corr
0.78	LALDX	Lord Abbett Short	Pair Corr
0.86	RRIGX	T Rowe Price	Pair Corr
0.89	CYBAX	Calvert High Yield	Pair Corr
0.88	BKMBX	Blackrock Systematic	Pair Corr

Moving against Guidepath Mutual Fund

0.57	GPMFX	Guidepath Managed Futures	Pair Corr
0.4	SMPIX	Semiconductor Ultrasector	Pair Corr
0.33	SMPSX	Semiconductor Ultrasector	Pair Corr
0.37	FIKGX	Fidelity Advisor Sem	Pair Corr
0.37	FELIX	Fidelity Advisor Sem	Pair Corr
0.37	FELAX	Fidelity Advisor Sem	Pair Corr
0.34	FSELX	Fidelity Select Semi	Pair Corr

Related Correlations Analysis

	IVMXX	JHMXX	HTYXX	RPGXX	WTAXX	EMDZX
IVMXX		0.0	0.0	0.0	0.0	0.0	IVMXX
JHMXX	0.0		0.0	0.0	0.0	0.0	JHMXX
HTYXX	0.0	0.0		0.0	0.0	0.0	HTYXX
RPGXX	0.0	0.0	0.0		0.0	0.0	RPGXX
WTAXX	0.0	0.0	0.0	0.0		0.0	WTAXX
EMDZX	0.0	0.0	0.0	0.0	0.0		EMDZX
	IVMXX	JHMXX	HTYXX	RPGXX	WTAXX	EMDZX

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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

JHMXX	+ 0.0	IVMXX
HTYXX	+ 0.0	IVMXX
RPGXX	+ 0.0	IVMXX
WTAXX	+ 0.0	IVMXX
EMDZX	+ 0.0	IVMXX
HTYXX	+ 0.0	JHMXX

High negative correlations

EMDZX	- 0.0	WTAXX
EMDZX	- 0.0	RPGXX
WTAXX	- 0.0	RPGXX
EMDZX	- 0.0	HTYXX
WTAXX	- 0.0	HTYXX
RPGXX	- 0.0	HTYXX

Risk-Adjusted Indicators

There is a big difference between Guidepath Mutual Fund performing well and Guidepath Multi 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 Multi'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
IVMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JHMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HTYXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RPGXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
WTAXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EMDZX	0.31	0.01	0.22	0.24	0.31	(0.43)	0.68	(0.65)	1.79

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