Gurtin California Correlations

GCMFX Fund

USD 9.77 0.01 0.10%

The current 90-days correlation between Gurtin California and Great West Goldman Sachs is 0.21 (i.e., Modest diversification). The correlation of Gurtin California 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.

Gurtin California Correlation With Market

Good diversification

The correlation between Gurtin California Municipal and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gurtin California Municipal 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 Gurtin California Municipal. 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 Gurtin Mutual Fund

0.92	VCAIX	Vanguard California	Pair Corr
0.91	VCADX	Vanguard California	Pair Corr
0.9	MKCMX	Blackrock California	Pair Corr
0.9	MACMX	Brf Clf Mpl	Pair Corr
0.89	MDCMX	Brf Clf Mplop	Pair Corr
0.91	MECMX	Brf Clf Mpl	Pair Corr
0.93	MFCMX	Brf Clf Mpl	Pair Corr
0.92	BCIAX	California Intermediate-ter	Pair Corr
0.91	BCIYX	California Intermediate-ter	Pair Corr
0.91	BCITX	California Intermediate-ter	Pair Corr
0.84	GPBFX	Gmo E Plus	Pair Corr
0.82	WARCX	Wells Fargo Advantage	Pair Corr
0.73	GSWPX	Goldman Sachs Smallmid	Pair Corr
0.86	LTMIX	Thornburg Limited Term	Pair Corr
0.69	ALCEX	Avantis Large Cap	Pair Corr
0.7	ARTNX	Artisan Select Equity	Pair Corr
0.7	DFEOX	Us E Equity	Pair Corr
0.74	JRODX	J Hancock Ii	Pair Corr

Moving against Gurtin Mutual Fund

0.43	GAAKX	Gmo Alternative Allo	Pair Corr
0.42	GAAGX	Gmo Alternative Allo	Pair Corr

Related Correlations Analysis

	MXKJX	UIPMX	SPPIX	IOGYX	OGMCX	QGLDX	UNWPX
MXKJX		-0.3	0.3	-0.27	-0.27	-0.37	-0.44	MXKJX
UIPMX	-0.3		-0.99	0.99	0.99	0.8	0.86	UIPMX
SPPIX	0.3	-0.99		-0.99	-0.99	-0.8	-0.85	SPPIX
IOGYX	-0.27	0.99	-0.99		1.0	0.79	0.83	IOGYX
OGMCX	-0.27	0.99	-0.99	1.0		0.78	0.83	OGMCX
QGLDX	-0.37	0.8	-0.8	0.79	0.78		0.87	QGLDX
UNWPX	-0.44	0.86	-0.85	0.83	0.83	0.87		UNWPX
	MXKJX	UIPMX	SPPIX	IOGYX	OGMCX	QGLDX	UNWPX

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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

OGMCX	+ 1.0	IOGYX
IOGYX	+ 0.99	UIPMX
OGMCX	+ 0.99	UIPMX
UNWPX	+ 0.87	QGLDX
UNWPX	+ 0.86	UIPMX
UNWPX	+ 0.83	IOGYX

High negative correlations

OGMCX	- 0.99	SPPIX
IOGYX	- 0.99	SPPIX
SPPIX	- 0.99	UIPMX
UNWPX	- 0.85	SPPIX
QGLDX	- 0.8	SPPIX
UNWPX	- 0.44	MXKJX

Risk-Adjusted Indicators

There is a big difference between Gurtin Mutual Fund performing well and Gurtin California 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 Gurtin California'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
MXKJX	1.03	0.04	0.01	0.21	2.57	(1.16)	1.42	(1.64)	26.05
UIPMX	1.33	(0.16)	0.00	(0.43)	0.00	0.00	2.56	(3.27)	7.60
SPPIX	1.47	0.18	0.07	(0.81)	1.71	(1.55)	3.21	(2.77)	10.57
IOGYX	1.33	(0.15)	0.00	(0.49)	0.00	0.00	2.61	(2.81)	8.99
OGMCX	1.33	(0.16)	0.00	(0.37)	0.00	0.00	2.65	(2.77)	8.94
QGLDX	0.84	0.00	(0.02)	(0.05)	1.31	(0.75)	1.37	(1.99)	4.89
UNWPX	1.26	(0.12)	0.00	(0.45)	0.00	0.00	2.60	(2.50)	6.71

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