Guggenheim Directional Correlations

TVFRX Fund

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The current 90-days correlation between Guggenheim Directional and Guggenheim Directional Allocation is 1.0 (i.e., No risk reduction). The correlation of Guggenheim Directional 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 Directional Correlation With Market

Good diversification

The correlation between Guggenheim Directional Allocat 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 Guggenheim Directional Allocat and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Guggenheim Directional 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 metropolitan statistical area.

Moving together with Guggenheim Mutual Fund

1.0	TVRCX	Guggenheim Directional	Pair Corr
1.0	TVRAX	Guggenheim Directional	Pair Corr
1.0	TVRIX	Guggenheim Directional	Pair Corr
0.65	GUMCX	Guggenheim Market Neutral	Pair Corr
0.65	GUMNX	Guggenheim Market Neutral	Pair Corr
0.65	GUMPX	Guggenheim Market Neutral	Pair Corr
0.68	SAOIX	Guggenheim Alpha Opp	Pair Corr
0.68	SAOSX	Guggenheim Alpha Opp	Pair Corr
0.69	SAOAX	Guggenheim Alpha Opp	Pair Corr
0.61	SAOCX	Guggenheim Alpha Opp	Pair Corr
0.8	GURAX	Guggenheim Risk Managed	Pair Corr
0.79	GURCX	Guggenheim Risk Managed	Pair Corr
0.8	GURIX	Guggenheim Risk Managed	Pair Corr
0.8	GURPX	Guggenheim Risk Managed	Pair Corr
0.91	SUFCX	Guggenheim Styleplus	Pair Corr
0.94	SVUIX	Guggenheim Mid Cap	Pair Corr
0.93	SECEX	Guggenheim Styleplus	Pair Corr
0.93	SECIX	Guggenheim Large Cap	Pair Corr
0.76	SECUX	Guggenheim Styleplus	Pair Corr
0.95	SEGPX	Guggenheim Large Cap	Pair Corr
0.93	SEGIX	Guggenheim Large Cap	Pair Corr
0.9	SEQAX	Guggenheim World Equity	Pair Corr
0.9	SEQPX	Guggenheim World Equity	Pair Corr
0.75	SEUPX	Guggenheim Styleplus	Pair Corr
0.96	SEVAX	Guggenheim Mid Cap	Pair Corr
0.9	SEWIX	Guggenheim World Equity	Pair Corr
0.93	SEVSX	Guggenheim Mid Cap	Pair Corr
0.93	SEVPX	Guggenheim Mid Cap	Pair Corr
0.96	SFECX	Guggenheim Styleplus	Pair Corr

Related Correlations Analysis

	TVRCX	TVRAX	TVRIX	TVVFX	TVVCX	TVVAX	TVVIX	GUDAX	GUDCX	GUDIX
TVRCX		1.0	1.0	0.07	0.07	0.07	0.07	0.0	0.0	0.0	TVRCX
TVRAX	1.0		1.0	0.07	0.07	0.07	0.07	0.0	0.0	0.0	TVRAX
TVRIX	1.0	1.0		0.07	0.07	0.07	0.07	0.0	0.0	0.0	TVRIX
TVVFX	0.07	0.07	0.07		1.0	1.0	1.0	0.0	0.0	0.0	TVVFX
TVVCX	0.07	0.07	0.07	1.0		1.0	1.0	0.0	0.0	0.0	TVVCX
TVVAX	0.07	0.07	0.07	1.0	1.0		1.0	0.0	0.0	0.0	TVVAX
TVVIX	0.07	0.07	0.07	1.0	1.0	1.0		0.0	0.0	0.0	TVVIX
GUDAX	0.0	0.0	0.0	0.0	0.0	0.0	0.0		-1.0	1.0	GUDAX
GUDCX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	-1.0		-1.0	GUDCX
GUDIX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	1.0	-1.0		GUDIX
	TVRCX	TVRAX	TVRIX	TVVFX	TVVCX	TVVAX	TVVIX	GUDAX	GUDCX	GUDIX

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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
TVVCX	+ 1.0	TVVFX
TVVAX	+ 1.0	TVVFX
TVVIX	+ 1.0	TVVFX

High negative correlations

GUDIX	- 1.0	GUDCX
GUDCX	- 1.0	GUDAX
GUDIX	- 0.0	TVVIX
GUDCX	- 0.0	TVVIX
GUDAX	- 0.0	TVVIX
GUDIX	- 0.0	TVVAX

Risk-Adjusted Indicators

There is a big difference between Guggenheim Mutual Fund performing well and Guggenheim Directional 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 Directional'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	0.76	(0.16)	0.00	0.89	0.00	0.00	1.08	(1.13)	17.02
TVRAX	0.73	(0.14)	0.00	0.89	0.00	0.00	1.08	(1.13)	15.60
TVRIX	0.72	(0.13)	0.00	0.93	0.00	0.00	1.04	(1.08)	15.23
TVVFX	0.14	0.00	(0.04)	(0.08)	0.19	(0.59)	0.74	(0.37)	2.10
TVVCX	0.14	0.00	(0.04)	(0.06)	0.20	(0.67)	0.83	(0.37)	2.08
TVVAX	0.14	0.00	(0.03)	0.00	0.19	(0.59)	0.80	(0.45)	1.96
TVVIX	0.14	0.00	(0.03)	(0.03)	0.18	(0.58)	0.79	(0.26)	2.15
GUDAX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GUDCX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GUDIX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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