Guidepath(r) Absolute Correlations

Mutual Funds . USA . 
Fund . Guidepath Absolute Return
GPARX Fund  USD 10.14  0.02  0.20%   
The current 90-days correlation between Guidepath Absolute Return and Guidepath Multi Asset Income is 0.5 (i.e., Very weak diversification). The correlation of Guidepath(r) 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(r) Absolute Correlation With Market

Very poor diversification

The correlation between Guidepath Absolute Return and DJI is 0.82 (i.e., Very poor 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 real.

Moving together with Guidepath(r) Mutual Fund

  0.89GPICX Guidepath ConservativePairCorr
  0.84GPIFX Guidepath Flexible IncomePairCorr
  0.81GPIGX Guidepath Growth AndPairCorr
  0.97GPMFX Guidepath Managed FuturesPairCorr
  0.88GPMIX Guidepath(r) Multi-assetPairCorr
  0.81VBIRX Vanguard Short TermPairCorr
  0.87VFSUX Vanguard Short TermPairCorr
  0.76VFSIX Vanguard Short TermPairCorr
  0.76VFSTX Vanguard Short TermPairCorr
  0.68VBITX Vanguard Short TermPairCorr
  0.68VBISX Vanguard Short TermPairCorr
  0.82VSCSX Vanguard Short TermPairCorr
  0.78LDLAX Lord Abbett ShortPairCorr
  0.78LDLRX Lord Abbett ShortPairCorr
  0.77PDI Pimco Dynamic IncomePairCorr
  0.94SGQIX Deutsche Global GrowthPairCorr
  0.9RWBEX Capital World GrowthPairCorr
  0.82MSTPX Morningstar MunicipalPairCorr
  0.86CIBYX Columbia Income BuilderPairCorr
  0.78SIICX Alphacentric StrategicPairCorr
  0.87RMCFX Royce Micro CapPairCorr
  0.72VFIAX Vanguard 500 IndexPairCorr
  0.64GCFUX Goldman Sachs EPairCorr
  0.81GCEYX Ab Global EPairCorr
  0.93HHHCX Hartford SchrodersPairCorr
  0.89AMEFX Income FundPairCorr
  0.83CMUAX Columbia Mid CapPairCorr
  0.94TWSMX Strategic AllocationPairCorr

Moving against Guidepath(r) Mutual Fund

  0.82TCTGX Transamerica CleartrackPairCorr
  0.89UIPIX Ultrashort Mid CapPairCorr
  0.83TCSUX Cleartrack 2020 ClassPairCorr
  0.82TCTJX Transamerica CleartrackPairCorr
  0.81TDKTX Cleartrack 2015 ClassPairCorr
  0.76CESGX Coho Relative ValuePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Guidepath(r) Mutual Fund performing well and Guidepath(r) 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(r) 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.

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