Guggenheim Floating Correlations

GIFAX Fund

USD 24.24 0.01 0.04%

The current 90-days correlation between Guggenheim Floating Rate and Guggenheim Total Return is 0.11 (i.e., Average diversification). The correlation of Guggenheim Floating 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 Floating Correlation With Market

Significant diversification

The correlation between Guggenheim Floating Rate and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guggenheim Floating Rate 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 Floating Rate. 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 nation.

Moving together with Guggenheim Mutual Fund

0.86	TVRCX	Guggenheim Directional	Pair Corr
0.87	TVRAX	Guggenheim Directional	Pair Corr
0.87	TVRIX	Guggenheim Directional	Pair Corr
0.78	TVVFX	Guggenheim Rbp Large	Pair Corr
0.78	TVVCX	Guggenheim Rbp Large	Pair Corr
0.79	TVVAX	Guggenheim Rbp Large	Pair Corr
0.79	TVVIX	Guggenheim Rbp Large	Pair Corr
0.87	GUMAX	Guggenheim Market Neutral	Pair Corr
0.85	GUMCX	Guggenheim Market Neutral	Pair Corr
0.88	GUMNX	Guggenheim Market Neutral	Pair Corr
0.87	GUMPX	Guggenheim Market Neutral	Pair Corr
0.74	SAOIX	Guggenheim Alpha Opp	Pair Corr
0.74	SAOSX	Guggenheim Alpha Opp	Pair Corr
0.73	SAOAX	Guggenheim Alpha Opp	Pair Corr
0.72	SAOCX	Guggenheim Alpha Opp	Pair Corr
0.84	SUFCX	Guggenheim Styleplus	Pair Corr
0.73	SVUIX	Guggenheim Mid Cap	Pair Corr
0.83	SECEX	Guggenheim Styleplus	Pair Corr
0.81	SECIX	Guggenheim Large Cap	Pair Corr
0.84	SECUX	Guggenheim Styleplus	Pair Corr
0.81	SEGPX	Guggenheim Large Cap	Pair Corr
0.8	SEGIX	Guggenheim Large Cap	Pair Corr
0.62	SEQAX	Guggenheim World Equity	Pair Corr
0.62	SEQPX	Guggenheim World Equity	Pair Corr
0.84	SEUPX	Guggenheim Styleplus	Pair Corr
0.72	SEVAX	Guggenheim Mid Cap	Pair Corr
0.62	SEWIX	Guggenheim World Equity	Pair Corr
0.71	SEVSX	Guggenheim Mid Cap	Pair Corr
0.72	SEVPX	Guggenheim Mid Cap	Pair Corr
0.82	SFECX	Guggenheim Styleplus	Pair Corr

Moving against Guggenheim Mutual Fund

0.74	SDICX	Guggenheim Investment	Pair Corr
0.74	GIBCX	Guggenheim Total Return	Pair Corr
0.7	GIBIX	Guggenheim Total Return	Pair Corr

Related Correlations Analysis

	GIBAX	GIOAX	GIFIX	GIFCX	NFRAX
GIBAX		-0.14	-0.71	-0.71	-0.74	GIBAX
GIOAX	-0.14		0.76	0.75	0.72	GIOAX
GIFIX	-0.71	0.76		1.0	0.99	GIFIX
GIFCX	-0.71	0.75	1.0		0.98	GIFCX
NFRAX	-0.74	0.72	0.99	0.98		NFRAX
	GIBAX	GIOAX	GIFIX	GIFCX	NFRAX

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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

GIFCX	+ 1.0	GIFIX
NFRAX	+ 0.99	GIFIX
NFRAX	+ 0.98	GIFCX
GIFIX	+ 0.76	GIOAX
GIFCX	+ 0.75	GIOAX
NFRAX	+ 0.72	GIOAX

High negative correlations

NFRAX	- 0.74	GIBAX
GIFCX	- 0.71	GIBAX
GIFIX	- 0.71	GIBAX
GIOAX	- 0.14	GIBAX

Risk-Adjusted Indicators

There is a big difference between Guggenheim Mutual Fund performing well and Guggenheim Floating 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 Floating'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GIBAX	0.21	(0.01)	0.00	0.31	0.00	0.42	(0.46)	1.18
GIOAX	0.08	0.01	(1.14)	0.76	(0.11)	0.24	(0.12)	0.65
GIFIX	0.07	0.02	(1.56)	2.66	(0.14)	0.08	(0.08)	0.88
GIFCX	0.06	0.02	(1.62)	1.44	(0.13)	0.08	(0.08)	0.80
NFRAX	0.07	0.03	(1.60)	2.86	(0.15)	0.11	(0.06)	0.84

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