Gcadx Correlations

GCADX Fund

USD 7.87 0.04 0.51%

The current 90-days correlation between Gcadx and Fidelity Managed Retirement is -0.1 (i.e., Good diversification). The correlation of Gcadx 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.

Gcadx Correlation With Market

Poor diversification

The correlation between Gcadx 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 Gcadx 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 Gcadx. 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 small area income & poverty estimates.

Moving together with Gcadx Mutual Fund

0.64	VTSAX	Vanguard Total Stock	Pair Corr
0.62	VFIAX	Vanguard 500 Index	Pair Corr
0.65	VTSMX	Vanguard Total Stock	Pair Corr
0.65	VITSX	Vanguard Total Stock	Pair Corr
0.64	VSTSX	Vanguard Total Stock	Pair Corr
0.65	VSMPX	Vanguard Total Stock	Pair Corr
0.83	VTIAX	Vanguard Total Inter	Pair Corr
0.62	VFINX	Vanguard 500 Index	Pair Corr
0.61	VFFSX	Vanguard 500 Index	Pair Corr
0.76	NHS	Neuberger Berman High	Pair Corr
0.78	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.84	BA	Boeing Sell-off Trend	Pair Corr
0.66	HD	Home Depot	Pair Corr
0.63	CAT	Caterpillar	Pair Corr
0.65	DIS	Walt Disney Earnings Call This Week	Pair Corr
0.65	INTC	Intel Aggressive Push	Pair Corr
0.7	AA	Alcoa Corp	Pair Corr

Moving against Gcadx Mutual Fund

0.46	MMM	3M Company	Pair Corr
0.44	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	MXBPX	TRATX	TRRNX	TRRAX	SWJRX	WGBIX	TRRIX	FHRVX
MXBPX		0.97	0.96	0.94	0.93	0.93	0.94	0.98	MXBPX
TRATX	0.97		0.95	0.93	0.9	0.91	0.96	0.96	TRATX
TRRNX	0.96	0.95		0.99	0.93	0.97	0.99	0.94	TRRNX
TRRAX	0.94	0.93	0.99		0.91	0.98	0.98	0.92	TRRAX
SWJRX	0.93	0.9	0.93	0.91		0.9	0.91	0.89	SWJRX
WGBIX	0.93	0.91	0.97	0.98	0.9		0.95	0.91	WGBIX
TRRIX	0.94	0.96	0.99	0.98	0.91	0.95		0.94	TRRIX
FHRVX	0.98	0.96	0.94	0.92	0.89	0.91	0.94		FHRVX
	MXBPX	TRATX	TRRNX	TRRAX	SWJRX	WGBIX	TRRIX	FHRVX

Risk-Adjusted Indicators

There is a big difference between Gcadx Mutual Fund performing well and Gcadx 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 Gcadx'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
MXBPX	0.41	0.06	0.06	0.55	0.42	(0.45)	0.92	(0.95)	2.13
TRATX	0.34	0.08	0.10	1.97	0.21	(0.40)	0.66	(0.65)	3.45
TRRNX	0.55	0.07	0.09	0.13	0.58	(0.60)	1.21	(1.15)	5.05
TRRAX	0.29	0.05	0.08	0.17	0.09	(0.35)	0.59	(0.52)	3.84
SWJRX	0.27	0.05	0.07	0.20	0.03	(0.35)	0.66	(0.39)	1.44
WGBIX	0.49	0.10	0.13	0.25	0.35	(0.60)	0.94	(0.92)	6.03
TRRIX	0.28	0.03	0.03	0.14	0.19	(0.34)	0.52	(0.52)	2.76
FHRVX	0.22	0.02	(0.02)	0.31	0.20	(0.23)	0.47	(0.42)	1.18

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