Guidepath Servative Correlations

Mutual Funds . USA . 
Fund . Guidepath Servative Allocation
GPTCX Fund  USD 11.39  0.19  1.64%   
The current 90-days correlation between Guidepath Servative and Ashmore Emerging Markets is 0.07 (i.e., Significant diversification). The correlation of Guidepath Servative 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 Servative Correlation With Market

Poor diversification

The correlation between Guidepath Servative Allocation and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guidepath Servative Allocation 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 Servative Allocation. 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 main economic indicators.

Moving together with Guidepath Mutual Fund

  0.75VWINX Vanguard Wellesley Income Downward RallyPairCorr
  0.77VWIAX Vanguard Wellesley Income Downward RallyPairCorr
  0.96BKMIX Blackrock Multi AssetPairCorr
  0.67HBLTX Hartford BalancedPairCorr
  0.66HBLRX Hartford BalancedPairCorr
  0.66HBLSX Hartford BalancedPairCorr
  0.67HBLVX Hartford BalancedPairCorr
  0.67HBLYX Hartford BalancedPairCorr
  0.64HBLCX Hartford BalancedPairCorr
  0.67HBLIX Hartford BalancedPairCorr
  0.62WRHIX Ivy High IncomePairCorr
  0.67VEMBX Vanguard Emerging MarketsPairCorr

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   
SEKRX
+ 0.96
ZEMIX
IJPTX
+ 0.88
EMSLX
SEKRX
+ 0.87
IJPTX
SEKRX
+ 0.86
EMSLX
ZEMIX
+ 0.79
EMSLX
IJPTX
+ 0.79
ZEMIX
  
High negative correlations   
IJPTX
- 0.16
APDOX
SEKRX
- 0.04
APDOX
APDOX
- 0.03
EMSLX

Risk-Adjusted Indicators

There is a big difference between Guidepath Mutual Fund performing well and Guidepath Servative 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 Servative'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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