Guggenheim Managed Correlations

RYIFX Fund

USD 19.65 0.14 0.72%

The current 90-days correlation between Guggenheim Managed and Guggenheim Directional Allocation is 0.06 (i.e., Significant diversification). The correlation of Guggenheim Managed 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.

Guggenheim Managed Correlation With Market

Modest diversification

The correlation between Guggenheim Managed Futures and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guggenheim Managed Futures and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Guggenheim Managed Futures. 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 census.

Moving together with Guggenheim Mutual Fund

0.77	SUFCX	Guggenheim Styleplus	Pair Corr
0.76	SECUX	Guggenheim Styleplus	Pair Corr
0.76	SEUPX	Guggenheim Styleplus	Pair Corr
0.63	SEVPX	Guggenheim Mid Cap	Pair Corr

Moving against Guggenheim Mutual Fund

0.88	SDICX	Guggenheim Investment	Pair Corr
0.78	GULDX	Gugg Actv Invmt	Pair Corr
0.74	GUCPX	Gugg Actv Invmt	Pair Corr
0.36	GURIX	Guggenheim Risk Managed	Pair Corr
0.35	GURAX	Guggenheim Risk Managed	Pair Corr
0.35	GURPX	Guggenheim Risk Managed	Pair Corr
0.32	GURCX	Guggenheim Risk Managed	Pair Corr
0.88	GIBCX	Guggenheim Total Return	Pair Corr
0.88	GIBIX	Guggenheim Total Return	Pair Corr
0.88	GIBLX	Guggenheim Total Return	Pair Corr
0.88	GIBRX	Guggenheim Total Return	Pair Corr
0.88	GIBAX	Guggenheim Total Return	Pair Corr

Related Correlations Analysis

	TVRCX	TVRAX	TVRIX	TVVFX	TVVCX	TVVAX	TVVIX	GUCPX	GULDX	SAOIX
TVRCX		1.0	1.0	0.0	0.0	0.0	0.0	-0.06	-0.56	-0.02	TVRCX
TVRAX	1.0		1.0	0.0	0.0	0.0	0.0	-0.08	-0.56	-0.01	TVRAX
TVRIX	1.0	1.0		0.0	0.0	0.0	0.0	-0.09	-0.56	0.0	TVRIX
TVVFX	0.0	0.0	0.0		-1.0	1.0	-1.0	0.0	0.0	0.0	TVVFX
TVVCX	0.0	0.0	0.0	-1.0		-1.0	1.0	0.0	0.0	0.0	TVVCX
TVVAX	0.0	0.0	0.0	1.0	-1.0		-1.0	0.0	0.0	0.0	TVVAX
TVVIX	0.0	0.0	0.0	-1.0	1.0	-1.0		0.0	0.0	0.0	TVVIX
GUCPX	-0.06	-0.08	-0.09	0.0	0.0	0.0	0.0		0.58	0.25	GUCPX
GULDX	-0.56	-0.56	-0.56	0.0	0.0	0.0	0.0	0.58		0.29	GULDX
SAOIX	-0.02	-0.01	0.0	0.0	0.0	0.0	0.0	0.25	0.29		SAOIX
	TVRCX	TVRAX	TVRIX	TVVFX	TVVCX	TVVAX	TVVIX	GUCPX	GULDX	SAOIX

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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

TVRAX	+ 1.0	TVRCX
TVRIX	+ 1.0	TVRCX
TVRIX	+ 1.0	TVRAX
TVVAX	+ 1.0	TVVFX
TVVIX	+ 1.0	TVVCX
GULDX	+ 0.58	GUCPX

High negative correlations

TVVIX	- 1.0	TVVAX
TVVAX	- 1.0	TVVCX
TVVIX	- 1.0	TVVFX
TVVCX	- 1.0	TVVFX
GULDX	- 0.56	TVRIX
GULDX	- 0.56	TVRAX

Risk-Adjusted Indicators

There is a big difference between Guggenheim Mutual Fund performing well and Guggenheim Managed 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 Guggenheim Managed'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
TVRCX	0.91	(0.31)	0.00	(0.65)	0.00	0.00	0.99	(1.50)	15.54
TVRAX	0.87	(0.28)	0.00	(0.57)	0.00	0.00	0.97	(1.51)	14.07
TVRIX	0.87	(0.27)	0.00	(0.53)	0.00	0.00	0.98	(1.56)	13.54
TVVFX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TVVCX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TVVAX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TVVIX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GUCPX	0.18	0.03	0.13	2.44	0.00	(0.22)	0.40	(0.30)	1.09
GULDX	0.06	0.00	0.02	(0.17)	0.00	(0.12)	0.10	(0.05)	0.66
SAOIX	0.59	0.03	0.03	0.07	0.83	(0.58)	1.37	(0.90)	4.82

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