Guidepath Absolute Correlations

GPARX Fund

USD 9.70 0.28 2.81%

The current 90-days correlation between Guidepath Absolute Return and Sa Emerging Markets is 0.17 (i.e., Average diversification). The correlation of Guidepath Absolute 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.

Guidepath Absolute Correlation With Market

Weak diversification

The correlation between Guidepath Absolute Return and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guidepath Absolute 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 Guidepath Absolute 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 main economic indicators.

Moving together with Guidepath Mutual Fund

0.62	GPIFX	Guidepath Flexible Income	Pair Corr
0.62	GPIGX	Guidepath Growth And	Pair Corr
0.64	GPMFX	Guidepath Managed Futures	Pair Corr
0.64	GPMIX	Guidepath Multi Asset	Pair Corr
0.62	GMGZX	Mydestination 2055	Pair Corr
0.75	NDASX	Nationwide Investor	Pair Corr

Related Correlations Analysis

	SAEMX	TEOJX	ANGCX	RYCVX	XEMDX	OBEGX	DEDCX	DBELX
SAEMX		0.32	0.59	0.59	0.61	0.2	0.59	0.48	SAEMX
TEOJX	0.32		-0.02	0.48	-0.03	0.25	-0.01	-0.05	TEOJX
ANGCX	0.59	-0.02		0.68	0.87	0.49	0.74	0.85	ANGCX
RYCVX	0.59	0.48	0.68		0.66	0.77	0.71	0.7	RYCVX
XEMDX	0.61	-0.03	0.87	0.66		0.41	0.75	0.88	XEMDX
OBEGX	0.2	0.25	0.49	0.77	0.41		0.62	0.57	OBEGX
DEDCX	0.59	-0.01	0.74	0.71	0.75	0.62		0.81	DEDCX
DBELX	0.48	-0.05	0.85	0.7	0.88	0.57	0.81		DBELX
	SAEMX	TEOJX	ANGCX	RYCVX	XEMDX	OBEGX	DEDCX	DBELX

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

DBELX	+ 0.88	XEMDX
XEMDX	+ 0.87	ANGCX
DBELX	+ 0.85	ANGCX
DBELX	+ 0.81	DEDCX
OBEGX	+ 0.77	RYCVX
DEDCX	+ 0.75	XEMDX

High negative correlations

DBELX	- 0.05	TEOJX
XEMDX	- 0.03	TEOJX
ANGCX	- 0.02	TEOJX
DEDCX	- 0.01	TEOJX

Risk-Adjusted Indicators

There is a big difference between Guidepath Mutual Fund performing well and Guidepath Absolute 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 Guidepath Absolute'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
SAEMX	0.63	0.00	(0.05)	0.07	1.00	(0.62)	1.13	(1.51)	5.10
TEOJX	0.71	(0.03)	(0.04)	0.03	1.05	(0.74)	1.23	(1.50)	5.51
ANGCX	0.08	0.01	(0.51)	0.86	0.00	(0.17)	0.23	(0.12)	0.58
RYCVX	1.11	(0.03)	0.03	0.06	1.44	(1.14)	2.38	(2.37)	5.92
XEMDX	0.20	0.01	(0.20)	(0.11)	0.23	(0.23)	0.36	(0.45)	1.80
OBEGX	1.00	(0.06)	(0.04)	0.02	1.26	(1.06)	2.40	(2.31)	5.31
DEDCX	0.08	0.00	(0.33)	(0.11)	0.06	(0.14)	0.13	(0.13)	0.76
DBELX	0.20	0.02	(0.13)	1.93	0.21	(0.22)	0.42	(0.53)	0.95

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