Gateway Equity Correlations

GCPCX Fund

USD 22.01 0.04 0.18%

The current 90-days correlation between Gateway Equity Call and Neuberger Berman Large is 0.51 (i.e., Very weak 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

Poor diversification

The correlation between Gateway Equity Call and DJI is 0.78 (i.e., Poor 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 manufacturing.

Moving together with Gateway Mutual Fund

0.61	AMFNX	Asg Managed Futures	Pair Corr
0.76	NOANX	Natixis Oakmark	Pair Corr
0.69	NOIAX	Natixis Oakmark Inte	Pair Corr
0.66	NOICX	Natixis Oakmark Inte	Pair Corr
1.0	GCPAX	Gateway Equity Call	Pair Corr
0.95	GCPNX	Gateway Equity Call	Pair Corr
0.63	NOIYX	Natixis Oakmark Intl	Pair Corr
1.0	GCPYX	Gateway Equity Call	Pair Corr
0.71	LGANX	Loomis Sayles Limited	Pair Corr
0.72	LGMNX	Loomis Sayles Global	Pair Corr
0.67	ASFCX	Asg Managed Futures	Pair Corr
0.71	ASFYX	Asg Managed Futures	Pair Corr
0.62	ESGYX	Mirova Global Sustainable	Pair Corr
0.61	ESGMX	Mirova Global Sustainable	Pair Corr
0.62	NECOX	Natixis Oakmark	Pair Corr
0.91	NEFJX	Vaughan Nelson Small	Pair Corr
0.69	NEFOX	Natixis Oakmark	Pair Corr
0.65	NEFSX	Natixis Equity Oppor	Pair Corr

Moving against Gateway Mutual Fund

0.49	VNSYX	Vaughan Nelson Select	Pair Corr
0.39	VNSCX	Vaughan Nelson Select	Pair Corr
0.34	VNSAX	Vaughan Nelson Select	Pair Corr
0.47	VNVNX	Vaughan Nelson Value	Pair Corr
0.45	NRFNX	Aew Real Estate	Pair Corr
0.41	VNVYX	Vaughan Nelson Value	Pair Corr
0.4	VNSNX	Vaughan Nelson Select	Pair Corr
0.37	VNVCX	Vaughan Nelson Value	Pair Corr
0.34	VNVAX	Vaughan Nelson Value	Pair Corr

Related Correlations Analysis

	NBPBX	PCLVX	PRFDX	DFLVX	APGYX	AMONX	DLCFX
NBPBX		0.96	0.95	0.92	0.89	0.87	0.92	NBPBX
PCLVX	0.96		0.89	0.85	0.86	0.94	0.95	PCLVX
PRFDX	0.95	0.89		0.93	0.91	0.8	0.89	PRFDX
DFLVX	0.92	0.85	0.93		0.87	0.73	0.82	DFLVX
APGYX	0.89	0.86	0.91	0.87		0.78	0.86	APGYX
AMONX	0.87	0.94	0.8	0.73	0.78		0.97	AMONX
DLCFX	0.92	0.95	0.89	0.82	0.86	0.97		DLCFX
	NBPBX	PCLVX	PRFDX	DFLVX	APGYX	AMONX	DLCFX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NBPBX	0.66	0.14	0.18	0.24	0.41	(0.82)	1.41	(1.12)	6.38
PCLVX	0.72	0.26	0.32	0.56	0.10	(0.87)	1.30	(0.87)	12.87
PRFDX	0.57	0.03	0.03	0.11	0.57	(0.64)	1.32	(1.13)	2.78
DFLVX	0.58	0.07	0.01	0.53	0.66	(0.65)	1.21	(1.05)	3.12
APGYX	0.83	0.11	0.08	0.22	0.85	(0.94)	1.87	(1.63)	12.21
AMONX	1.24	0.47	0.36	1.06	0.51	(1.56)	1.76	(1.85)	31.94
DLCFX	0.64	0.09	0.08	0.19	0.67	(0.70)	1.30	(1.13)	7.07

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