Guggenheim Alpha Correlations
| SAOCX Fund | USD 18.97 0.16 0.84% |
The correlation of Guggenheim Alpha 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 Alpha Correlation With Market
Good diversification
The correlation between Guggenheim Alpha Opportunity and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guggenheim Alpha Opportunity and DJI in the same portfolio, assuming nothing else is changed.
Guggenheim |
Moving together with Guggenheim Mutual Fund
| 1.0 | SAOIX | Guggenheim Alpha Opp | PairCorr |
| 0.77 | SAOSX | Guggenheim Alpha Opp | PairCorr |
| 0.77 | SAOAX | Guggenheim Alpha Opp | PairCorr |
| 0.64 | GURAX | Guggenheim Risk Managed | PairCorr |
| 0.62 | GURCX | Guggenheim Risk Managed | PairCorr |
| 0.64 | GURIX | Guggenheim Risk Managed | PairCorr |
Related Correlations Analysis
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