Gateway Equity Correlations

GCPYX Fund

USD 20.07 0.05 0.25%

The current 90-days correlation between Gateway Equity Call and Asg Managed Futures is 0.45 (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

Very poor diversification

The correlation between Gateway Equity Call and DJI is 0.81 (i.e., Very 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

0.8	LGMAX	Loomis Sayles Global	Pair Corr
0.78	LGMCX	Loomis Sayles Global	Pair Corr
0.81	LGMNX	Loomis Sayles Global	Pair Corr
0.97	LGRCX	Loomis Sayles Growth	Pair Corr
0.63	LIGYX	Loomis Sayles Intern	Pair Corr
0.91	NSFGX	Natixis Sustainable	Pair Corr
0.88	NEHCX	Loomis Sayles High	Pair Corr
0.86	LSFYX	Loomis Sayles Senior	Pair Corr
0.81	GAFYX	Asg Global Alternatives	Pair Corr
1.0	GTEYX	Gateway Fund Class	Pair Corr
0.99	JHQCX	Jpmorgan Hedged Equity	Pair Corr
0.99	JHEQX	Jpmorgan Hedged Equity	Pair Corr
0.99	JHQAX	Jpmorgan Hedged Equity	Pair Corr
1.0	GTENX	Gateway Fund Class	Pair Corr
1.0	GTECX	Gateway Fund Class	Pair Corr
1.0	GATEX	Gateway Fund Class	Pair Corr
0.99	JHDCX	Jpmorgan Hedged Equity	Pair Corr
0.99	JHDRX	Jpmorgan Hedged Equity	Pair Corr
0.99	JHDAX	Jpmorgan Hedged Equity	Pair Corr
0.92	LSHCX	Horizon Spin Off Downward Rally	Pair Corr
0.91	KNPAX	Kinetics Paradigm Downward Rally	Pair Corr
0.9	KMKAX	Kinetics Market Oppo Downward Rally	Pair Corr
0.91	KNPYX	Kinetics Paradigm Downward Rally	Pair Corr
0.88	SMPSX	Semiconductor Ultrasector	Pair Corr

Moving against Gateway Mutual Fund

0.76	LGBCX	Loomis Sayles Investment	Pair Corr
0.74	LGBNX	Loomis Sayles Investment	Pair Corr
0.74	LIGRX	Loomis Sayles Investment	Pair Corr
0.59	LGANX	Loomis Sayles Limited	Pair Corr
0.59	NEFLX	Loomis Sayles Limited	Pair Corr
0.54	ASFYX	Asg Managed Futures	Pair Corr
0.37	NRCFX	Aew Real Estate	Pair Corr
0.34	NRFAX	Aew Real Estate	Pair Corr
0.79	NERYX	Loomis Sayles E	Pair Corr
0.74	LSIIX	Loomis Sayles Investment	Pair Corr

Related Correlations Analysis

	AMFAX	AMFNX	NOANX	NOIAX	NOICX	GCPNX	NOIYX
AMFAX		1.0	-0.53	0.36	0.37	-0.54	0.35	AMFAX
AMFNX	1.0		-0.53	0.35	0.36	-0.53	0.35	AMFNX
NOANX	-0.53	-0.53		-0.53	-0.54	0.94	-0.53	NOANX
NOIAX	0.36	0.35	-0.53		1.0	-0.4	1.0	NOIAX
NOICX	0.37	0.36	-0.54	1.0		-0.42	1.0	NOICX
GCPNX	-0.54	-0.53	0.94	-0.4	-0.42		-0.4	GCPNX
NOIYX	0.35	0.35	-0.53	1.0	1.0	-0.4		NOIYX
	AMFAX	AMFNX	NOANX	NOIAX	NOICX	GCPNX	NOIYX

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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

AMFNX	+ 1.0	AMFAX
NOICX	+ 1.0	NOIAX
NOIYX	+ 1.0	NOIAX
NOIYX	+ 1.0	NOICX
GCPNX	+ 0.94	NOANX
NOICX	+ 0.37	AMFAX

High negative correlations

NOICX	- 0.54	NOANX
GCPNX	- 0.54	AMFAX
NOIYX	- 0.53	NOANX
NOIAX	- 0.53	NOANX
GCPNX	- 0.53	AMFNX
NOANX	- 0.53	AMFNX

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
AMFAX	0.39	(0.06)	0.00	(0.04)	0.00	0.00	0.79	(0.92)	2.43
AMFNX	0.38	(0.06)	0.00	(0.03)	0.00	0.00	0.79	(1.01)	2.28
NOANX	0.64	0.02	0.03	0.14	0.50	(0.73)	1.28	(1.18)	5.29
NOIAX	0.81	(0.14)	0.00	(0.20)	0.00	0.00	1.71	(1.68)	6.28
NOICX	0.82	(0.14)	0.00	(0.20)	0.00	0.00	1.74	(1.69)	6.27
GCPNX	0.37	0.01	(0.08)	0.14	0.41	(0.41)	0.93	(0.85)	2.47
NOIYX	0.82	(0.14)	0.00	(0.20)	0.00	0.00	1.71	(1.69)	6.30

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