Guidepath Tactical Correlations

Mutual Funds . USA . 
Fund . Guidepath Tactical Allocation
GPTUX Fund  USD 12.98  0.04  0.31%   
The current 90-days correlation between Guidepath Tactical and Cohen Steers Real is 0.4 (i.e., Very weak diversification). The correlation of Guidepath Tactical 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 Tactical Correlation With Market

Poor diversification

The correlation between Guidepath Tactical Allocation and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guidepath Tactical 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 Tactical 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 employment.

Moving together with Guidepath Mutual Fund

  0.99GMLGX Guidemark Large CapPairCorr
  0.98GMSMX Guidemark Smallmid CapPairCorr
  0.96GPSTX Guidepath Growth AllPairCorr
  0.78CISGX Touchstone Sands CapitalPairCorr

Moving against Guidepath Mutual Fund

  0.63GMCOX Guidemark E FixedPairCorr
  0.59GMWEX Guidemark World ExPairCorr
  0.57PAUPX Pimco All AssetPairCorr
  0.57PAUIX Pimco All AssetPairCorr
  0.48PAALX All Asset FundPairCorr
  0.48PATRX Pimco All AssetPairCorr
  0.48PAAIX All Asset FundPairCorr
  0.48PALPX Pimco All AssetPairCorr
  0.48PAANX Pimco All AssetPairCorr
  0.47PASAX All Asset FundPairCorr
  0.46PASCX All Asset FundPairCorr
  0.82DPFAX Deer Park TotalPairCorr
  0.78VSBSX Vanguard Short TermPairCorr
  0.77HOSGX Short Term GovernmentPairCorr
  0.73DFXIX Dfa Diversified FixedPairCorr
  0.71VSCSX Vanguard Short TermPairCorr
  0.68GSRUX Goldman Sachs InflationPairCorr
  0.64FCBCX Nuveen Strategic IncomePairCorr
  0.64VFIDX Vanguard Intermediate-terPairCorr
  0.62CTIVX Columbia Strategic IncomePairCorr
  0.61TNUIX 1290 Unconstrained BondPairCorr
  0.6UGPIX Ultrachina ProfundPairCorr
  0.6TNURX 1290 Unconstrained BondPairCorr
  0.59UGPSX Ultrachina ProfundPairCorr
  0.54PMPIX Precious Metals UltrPairCorr
  0.54PMPSX Precious Metals UltrPairCorr
  0.49RWIIX Redwood AlphafactorPairCorr
  0.41BNUEX Ubs InternationalPairCorr
  0.37PYGFX Payden Global FixedPairCorr
  0.92URPSX Ultrabear ProfundPairCorr
  0.78FSHBX Fidelity Short TermPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

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