Guggenheim Total Correlations

GIBIX Fund

USD 23.61 0.01 0.04%

The current 90-days correlation between Guggenheim Total Return and Guggenheim Macro Opportunities is 0.65 (i.e., Poor diversification). The correlation of Guggenheim Total 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.

Guggenheim Total Correlation With Market

Average diversification

The correlation between Guggenheim Total Return and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guggenheim Total Return 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 Guggenheim Total Return. 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 gross domestic product.

Moving together with Guggenheim Mutual Fund

0.96	SDICX	Guggenheim Investment	Pair Corr
0.96	GIBCX	Guggenheim Total Return	Pair Corr

Moving against Guggenheim Mutual Fund

0.78	GUMAX	Guggenheim Market Neutral	Pair Corr
0.78	GUMNX	Guggenheim Market Neutral	Pair Corr
0.77	GUMCX	Guggenheim Market Neutral	Pair Corr
0.77	GUMPX	Guggenheim Market Neutral	Pair Corr
0.7	TVRAX	Guggenheim Directional	Pair Corr
0.68	TVRCX	Guggenheim Directional	Pair Corr
0.68	TVRIX	Guggenheim Directional	Pair Corr
0.61	SAOSX	Guggenheim Alpha Opp	Pair Corr
0.61	SAOAX	Guggenheim Alpha Opp	Pair Corr
0.6	SAOIX	Guggenheim Alpha Opp	Pair Corr
0.53	TVVAX	Guggenheim Rbp Large	Pair Corr
0.53	TVVIX	Guggenheim Rbp Large	Pair Corr
0.52	TVVFX	Guggenheim Rbp Large	Pair Corr
0.52	TVVCX	Guggenheim Rbp Large	Pair Corr
0.72	SEUPX	Guggenheim Styleplus	Pair Corr
0.69	SUFCX	Guggenheim Styleplus	Pair Corr
0.69	SECEX	Guggenheim Styleplus	Pair Corr
0.69	SECIX	Guggenheim Large Cap	Pair Corr
0.69	SECUX	Guggenheim Styleplus	Pair Corr
0.68	SEGPX	Guggenheim Large Cap	Pair Corr
0.68	SEGIX	Guggenheim Large Cap	Pair Corr
0.62	SVUIX	Guggenheim Mid Cap	Pair Corr
0.6	SAOCX	Guggenheim Alpha Opp	Pair Corr
0.41	SEQAX	Guggenheim World Equity	Pair Corr
0.41	SEQPX	Guggenheim World Equity	Pair Corr
0.69	GIFSX	Guggenheim Floating Rate	Pair Corr
0.66	SFECX	Guggenheim Styleplus	Pair Corr
0.65	SFEPX	Guggenheim Styleplus	Pair Corr
0.64	SEVPX	Guggenheim Mid Cap	Pair Corr
0.64	GIFPX	Guggenheim Floating Rate	Pair Corr
0.64	GIFAX	Guggenheim Floating Rate	Pair Corr

Related Correlations Analysis

	GIOIX	PONPX	GIFIX	GILHX	PIMIX
GIOIX		0.19	0.8	0.73	0.27	GIOIX
PONPX	0.19		-0.37	0.7	0.95	PONPX
GIFIX	0.8	-0.37		0.27	-0.32	GIFIX
GILHX	0.73	0.7	0.27		0.68	GILHX
PIMIX	0.27	0.95	-0.32	0.68		PIMIX
	GIOIX	PONPX	GIFIX	GILHX	PIMIX

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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

PIMIX	+ 0.95	PONPX
GIFIX	+ 0.8	GIOIX
GILHX	+ 0.73	GIOIX
GILHX	+ 0.7	PONPX
PIMIX	+ 0.68	GILHX
PIMIX	+ 0.27	GIOIX

High negative correlations

GIFIX	- 0.37	PONPX
PIMIX	- 0.32	GIFIX

Risk-Adjusted Indicators

There is a big difference between Guggenheim Mutual Fund performing well and Guggenheim Total 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 Guggenheim Total'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
GIOIX	0.08	0.02	(1.00)	(2.21)	0.00	(0.12)	0.21	(0.12)	0.74
PONPX	0.15	(0.01)	(0.58)	(0.10)	0.15	(0.18)	0.28	(0.28)	1.04
GIFIX	0.07	0.03	(1.54)	(0.73)	0.00	(0.15)	0.08	(0.08)	0.88
GILHX	0.08	0.01	(1.07)	(0.20)	0.00	(0.11)	0.21	(0.12)	0.70
PIMIX	0.15	(0.01)	(0.55)	(0.09)	0.16	(0.17)	0.28	(0.28)	1.04

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