Great-west Short Correlations

MXSDX Fund

USD 10.29 0.03 0.29%

The current 90-days correlation between Great West Short and Thrivent Natural Resources is 0.1 (i.e., Average diversification). The correlation of Great-west Short 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.

Great-west Short Correlation With Market

Good diversification

The correlation between Great West Short Duration and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Great West Short Duration and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Great West Short Duration. 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 unemployment.

Moving against Great-west Mutual Fund

0.32	SFBPX	Great-west Securefoundation	Pair Corr
0.34	MXGSX	Great-west Multi-manager	Pair Corr
0.32	MXERX	Great West Sp	Pair Corr
0.32	MXEQX	Great West T	Pair Corr

Related Correlations Analysis

	TREIX	IEFCX	BACIX	FIKAX	HNRGX	PNRCX	SMAPX
TREIX		-0.01	-0.23	-0.04	0.47	-0.35	0.7	TREIX
IEFCX	-0.01		0.96	0.99	0.85	0.85	0.61	IEFCX
BACIX	-0.23	0.96		0.97	0.68	0.91	0.39	BACIX
FIKAX	-0.04	0.99	0.97		0.83	0.87	0.58	FIKAX
HNRGX	0.47	0.85	0.68	0.83		0.52	0.92	HNRGX
PNRCX	-0.35	0.85	0.91	0.87	0.52		0.24	PNRCX
SMAPX	0.7	0.61	0.39	0.58	0.92	0.24		SMAPX
	TREIX	IEFCX	BACIX	FIKAX	HNRGX	PNRCX	SMAPX

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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

FIKAX	+ 0.99	IEFCX
FIKAX	+ 0.97	BACIX
BACIX	+ 0.96	IEFCX
SMAPX	+ 0.92	HNRGX
PNRCX	+ 0.91	BACIX
PNRCX	+ 0.87	FIKAX

High negative correlations

PNRCX	- 0.35	TREIX
BACIX	- 0.23	TREIX
FIKAX	- 0.04	TREIX
IEFCX	- 0.01	TREIX

Risk-Adjusted Indicators

There is a big difference between Great-west Mutual Fund performing well and Great-west Short 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 Great-west Short'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
TREIX	0.05	0.01	(0.08)	(2.02)	0.00	(0.10)	0.10	(0.10)	0.31
IEFCX	0.76	0.03	0.01	0.14	1.20	(0.68)	1.25	(1.94)	5.01
BACIX	0.72	(0.01)	(0.02)	(0.02)	1.10	(0.66)	1.23	(1.85)	3.85
FIKAX	0.82	0.01	0.00	0.06	1.18	(0.80)	1.42	(1.99)	6.03
HNRGX	0.85	0.11	0.08	0.43	1.07	(0.88)	1.71	(1.83)	7.42
PNRCX	0.83	(0.03)	0.00	(0.06)	0.00	0.00	1.53	(1.72)	5.63
SMAPX	0.86	0.19	0.15	0.55	0.90	(0.95)	2.10	(1.83)	5.45

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