Deutsche Gnma Correlations

GGGGX Fund

USD 11.61 0.02 0.17%

The current 90-days correlation between Deutsche Gnma and Deutsche Gnma Fund is 0.99 (i.e., No risk reduction). The correlation of Deutsche Gnma 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.

Deutsche Gnma Correlation With Market

Modest diversification

The correlation between Deutsche Gnma Fund and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Deutsche Gnma Fund 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 Deutsche Gnma Fund. 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 price.

Moving together with Deutsche Mutual Fund

0.99	GCGGX	Deutsche Gnma	Pair Corr
0.72	SRMCX	Deutsche Short Term	Pair Corr
0.62	KTCAX	Deutsche Science And	Pair Corr
0.66	KTCIX	Deutsche Science And	Pair Corr
0.63	KTCSX	Deutsche Science And	Pair Corr
0.83	NOTCX	Deutsche Strategic High	Pair Corr
0.85	NOTAX	Deutsche Strategic High	Pair Corr
0.86	NOTIX	Deutsche Strategic High	Pair Corr
0.78	SSLCX	Deutsche Small Cap	Pair Corr
0.77	KCTCX	Deutsche California Tax	Pair Corr
0.69	KCTAX	Deutsche California Tax	Pair Corr
0.66	SCGSX	Deutsche Capital Growth	Pair Corr
0.74	SCHLX	Deutsche Health And	Pair Corr
0.74	SCMAX	Deutsche Massachusetts	Pair Corr
0.76	SCMBX	Deutsche Managed Mun	Pair Corr
0.87	SCMTX	Deutsche Intermediate	Pair Corr
0.81	SCOBX	Deutsche Global Growth	Pair Corr
0.66	SCQGX	Deutsche Large Cap	Pair Corr
0.74	SCPIX	Deutsche Sp 500	Pair Corr
0.98	SCSBX	Deutsche E Plus	Pair Corr

Related Correlations Analysis

	GCGGX	SRMAX	SRMCX	KTCCX	KTCAX	KTCIX	KTCSX	SRMSX	KTRAX	KTRCX
GCGGX		0.48	0.68	0.54	0.66	0.68	0.67	0.5	0.62	0.62	GCGGX
SRMAX	0.48		0.93	-0.22	0.0	0.07	0.02	0.98	-0.12	-0.13	SRMAX
SRMCX	0.68	0.93		0.06	0.26	0.32	0.27	0.94	0.18	0.17	SRMCX
KTCCX	0.54	-0.22	0.06		0.93	0.88	0.92	-0.17	0.92	0.92	KTCCX
KTCAX	0.66	0.0	0.26	0.93		0.99	1.0	0.04	0.86	0.86	KTCAX
KTCIX	0.68	0.07	0.32	0.88	0.99		0.99	0.11	0.81	0.81	KTCIX
KTCSX	0.67	0.02	0.27	0.92	1.0	0.99		0.06	0.85	0.85	KTCSX
SRMSX	0.5	0.98	0.94	-0.17	0.04	0.11	0.06		-0.07	-0.08	SRMSX
KTRAX	0.62	-0.12	0.18	0.92	0.86	0.81	0.85	-0.07		1.0	KTRAX
KTRCX	0.62	-0.13	0.17	0.92	0.86	0.81	0.85	-0.08	1.0		KTRCX
	GCGGX	SRMAX	SRMCX	KTCCX	KTCAX	KTCIX	KTCSX	SRMSX	KTRAX	KTRCX

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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

KTCSX	+ 1.0	KTCAX
KTRCX	+ 1.0	KTRAX
KTCIX	+ 0.99	KTCAX
KTCSX	+ 0.99	KTCIX
SRMSX	+ 0.98	SRMAX
SRMSX	+ 0.94	SRMCX

High negative correlations

KTCCX	- 0.22	SRMAX
SRMSX	- 0.17	KTCCX
KTRCX	- 0.13	SRMAX
KTRAX	- 0.12	SRMAX
KTRCX	- 0.08	SRMSX
KTRAX	- 0.07	SRMSX

Risk-Adjusted Indicators

There is a big difference between Deutsche Mutual Fund performing well and Deutsche Gnma 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 Deutsche Gnma'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
GCGGX	0.26	0.01	0.04	0.10	0.29	(0.30)	0.61	(0.52)	1.75
SRMAX	0.06	0.00	0.06	(0.49)	0.00	(0.12)	0.10	(0.10)	0.61
SRMCX	0.05	0.00	0.03	0.05	0.00	(0.13)	0.10	(0.10)	0.61
KTCCX	1.33	(0.28)	0.00	(0.42)	0.00	0.00	1.76	(2.67)	24.35
KTCAX	1.07	(0.08)	0.00	(0.14)	0.00	0.00	1.78	(2.69)	11.23
KTCIX	1.05	(0.06)	0.00	(0.11)	0.00	0.00	1.77	(2.72)	9.89
KTCSX	1.07	(0.08)	0.00	(0.13)	0.00	0.00	1.78	(2.70)	10.89
SRMSX	0.05	0.00	0.05	(0.19)	0.00	(0.15)	0.20	(0.10)	0.61
KTRAX	0.59	(0.14)	0.00	(0.32)	0.00	0.00	0.68	(1.13)	11.38
KTRCX	0.58	(0.14)	0.00	(0.33)	0.00	0.00	0.70	(1.12)	11.47

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