Gateway Equity Correlations

Mutual Funds . USA . 
Fund . Gateway Equity Call
GCPCX Fund  USD 19.89  0.13  0.66%   
The current 90-days correlation between Gateway Equity Call and Firsthand Technology Opportunities is 0.75 (i.e., Poor diversification). The correlation of Gateway Equity 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.

Gateway Equity Correlation With Market

Weak diversification

The correlation between Gateway Equity Call and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gateway Equity Call 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 Gateway Equity Call. 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 main economic indicators.

Moving together with Gateway Mutual Fund

  1.0GCPAX Gateway Equity CallPairCorr
  1.0GCPNX Gateway Equity CallPairCorr
  1.0GCPYX Gateway Equity CallPairCorr
  0.82LGRCX Loomis Sayles GrowthPairCorr
  0.91LGRNX Loomis Sayles GrowthPairCorr
  0.88LGRRX Loomis Sayles GrowthPairCorr
  0.85VNSYX Vaughan Nelson SelectPairCorr
  0.67VNSCX Vaughan Nelson SelectPairCorr
  0.69VNSAX Vaughan Nelson SelectPairCorr
  0.69VNSNX Vaughan Nelson SelectPairCorr
  0.66LIGCX Loomis Sayles InternPairCorr
  0.68LIGGX Loomis Sayles InternPairCorr
  0.69LIGNX Loomis Sayles InternPairCorr
  0.68LIGYX Loomis Sayles InternPairCorr
  0.78NSFJX Natixis SustainablePairCorr

Moving against Gateway Mutual Fund

  0.35NOICX Natixis Oakmark IntePairCorr
  0.34NOIAX Natixis Oakmark IntePairCorr
  0.34NOIYX Natixis Oakmark IntlPairCorr

Related Correlations Analysis

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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   
USTCX
+ 0.97
VITAX
USTCX
+ 0.89
TEFQX
VITAX
+ 0.87
TEFQX
DTEYX
+ 0.79
TEFQX
DTEYX
+ 0.76
USTCX
DTEYX
+ 0.7
VITAX
  
High negative correlations   
WFSTX
- 0.0
VITAX

Risk-Adjusted Indicators

There is a big difference between Gateway Mutual Fund performing well and Gateway Equity 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 Gateway Equity'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.

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