Mydestination 2055 Correlations

Mutual Funds . USA . 
Fund . Mydestination 2055 Fund
GMGYX Fund  USD 18.15  0.07  0.39%   
The current 90-days correlation between Mydestination 2055 and Growth Allocation Fund is -0.1 (i.e., Good diversification). The correlation of Mydestination 2055 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.

Mydestination 2055 Correlation With Market

Good diversification

The correlation between Mydestination 2055 Fund and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mydestination 2055 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 Mydestination 2055 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 manufacturing.

Moving together with Mydestination Mutual Fund

  0.89GCOZX Growth AllocationPairCorr
  0.86GDMYX Defensive Market StrPairCorr
  0.92GDMZX Defensive Market StrPairCorr
  0.85GVEYX Value Equity InstituPairCorr
  0.9GVEZX Value Equity InvestorPairCorr
  0.84GVIYX Guidestone Value EquityPairCorr
  0.84GVIZX Guidestone Value EquityPairCorr
  0.87GEIYX Guidestone Growth EquityPairCorr
  0.87GEIZX Guidestone Growth EquityPairCorr
  0.66GEMZX Emerging Markets EquityPairCorr
  0.86GEQYX Equity Index InstituPairCorr
  0.86GEQZX Equity Index InvestorPairCorr
  0.69GFIZX Conservative AllocationPairCorr
  0.91GGBZX Aggressive AllocationPairCorr
  0.82GGEYX Guidestone Fds GrowthPairCorr
  0.82GGEZX Growth Equity InvestorPairCorr
  0.88GGIZX Balanced AllocationPairCorr
  0.99GGRYX Growth AllocationPairCorr
  0.9GMFZX Mydestination 2045PairCorr
  0.75GMEYX Guidestone Funds ImpactPairCorr
  0.75GMEZX Guidestone Funds ImpactPairCorr
  0.98GMHYX Mydestination 2035PairCorr
  0.97GMHZX Mydestination 2035PairCorr
  1.0GMGZX Mydestination 2055PairCorr
  0.74GMTYX Mydestination 2015PairCorr
  0.74GMWYX Mydestination 2025PairCorr
  0.86GMWZX Mydestination 2025PairCorr
  1.0GMYYX Mydestination 2045PairCorr

Moving against Mydestination Mutual Fund

  0.51GMDYX Medium Duration BondPairCorr
  0.48GMBYX Guidestone FundsPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Mydestination Mutual Fund performing well and Mydestination 2055 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 Mydestination 2055'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
GCOZX  0.41 (0.03)(0.16) 0.06  0.46 
(0.48)
 0.91 
(0.75)
 2.44 
GDMYX  0.31  0.00 (0.14) 0.12  0.30 
(0.37)
 0.72 
(0.78)
 2.05 
GDMZX  0.30  0.05 (0.15) 2.10  0.27 
(0.36)
 0.65 
(0.64)
 1.90 
GVEYX  0.51  0.02 (0.01) 0.14  0.34 
(0.64)
 1.06 
(0.83)
 3.56 
GVEZX  0.51  0.11 (0.01)(8.61) 0.37 
(0.64)
 1.12 
(0.85)
 3.61 
GVIYX  0.48  0.02 (0.03) 0.14  0.22 
(0.69)
 1.10 
(0.72)
 3.51 
GVIZX  0.47  0.02 (0.03) 0.14  0.18 
(0.67)
 1.14 
(0.72)
 3.51 
GEIYX  0.67  0.11  0.00  2.04  0.78 
(0.71)
 1.66 
(1.67)
 5.10 
GEIZX  0.67  0.11  0.00  2.59  0.80 
(0.72)
 1.69 
(1.73)
 5.16 
GEMYX  0.75 (0.07) 0.00 (0.06) 0.00 
 0.00 
 1.43 
(1.79)
 5.33 

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