Grandeur Peak Correlations

GPRIX Fund  USD 16.83  0.05  0.30%   
The current 90-days correlation between Grandeur Peak Global and Grandeur Peak International is 0.92 (i.e., Almost no 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

Poor diversification

The correlation between Grandeur Peak Global and DJI is 0.65 (i.e., Poor 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 mutual fund could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Grandeur Mutual Fund

  0.98GGSOX Grandeur Peak GlobalPairCorr
  0.98GGSYX Grandeur Peak GlobalPairCorr
  0.66GISOX Grandeur Peak InternPairCorr
  0.67GISYX Grandeur Peak InternPairCorr
  0.68GPEIX Grandeur Peak EmergingPairCorr
  0.67GPEOX Grandeur Peak EmergingPairCorr
  0.67GPGCX Grandeur Peak GlobalPairCorr
  0.79GPGIX Grandeur Peak GlobalPairCorr
  0.78GPGOX Grandeur Peak GlobalPairCorr
  0.62GPIIX Grandeur Peak InternPairCorr
  0.62GPIOX Grandeur Peak InternPairCorr
  0.71GPMCX Grandeur Peak GlobalPairCorr
  1.0GPROX Grandeur Peak GlobalPairCorr
  0.69FSWFX American Funds SmallcapPairCorr
  0.69FSFWX American Funds SmallcapPairCorr
  0.78SCWCX American Fds SmallcapPairCorr
  0.77SCWFX Smallcap WorldPairCorr
  0.7SMCWX Smallcap WorldPairCorr
  0.76CSPFX Smallcap WorldPairCorr
  0.76CSPAX Smallcap WorldPairCorr
  0.77CSPEX Smallcap WorldPairCorr
  0.77RSLCX Smallcap WorldPairCorr
  0.69RLLGX Smallcap WorldPairCorr
  0.73SICIX Saat Servative StrategyPairCorr

Related Correlations Analysis

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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   
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RRTLXLBHIX
SITKFMSTSX
LBHIXMSTSX
70082LAB3VIASP
  
High negative correlations   
70082LAB3GISYX
VIASPGISYX
OSHDFGISYX
LBHIXGISYX
SITKFVIASP
SITKFOSHDF

Risk-Adjusted Indicators

There is a big difference between Grandeur Mutual Fund performing well and Grandeur Peak 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 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.