Grandeur Peak Correlations

GPGOX Fund

USD 3.45 0.03 0.88%

The current 90-days correlation between Grandeur Peak Global and Grandeur Peak Stalwarts is 0.14 (i.e., Average diversification). The correlation of Grandeur Peak 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.

Grandeur Peak Correlation With Market

Poor diversification

The correlation between Grandeur Peak Global and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Grandeur Peak Global 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 Grandeur Peak Global. 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 persons.

Moving together with Grandeur Mutual Fund

0.82	GGSOX	Grandeur Peak Global	Pair Corr
0.82	GGSYX	Grandeur Peak Global	Pair Corr
0.94	GISOX	Grandeur Peak Intern	Pair Corr
0.94	GISYX	Grandeur Peak Intern	Pair Corr
0.61	GPEIX	Grandeur Peak Emerging	Pair Corr
0.61	GPEOX	Grandeur Peak Emerging	Pair Corr
1.0	GPGIX	Grandeur Peak Global	Pair Corr
0.96	GPIIX	Grandeur Peak Intern	Pair Corr
0.96	GPIOX	Grandeur Peak Intern	Pair Corr
0.94	GPMCX	Grandeur Peak Global	Pair Corr
0.8	GPRIX	Grandeur Peak Global	Pair Corr
0.81	GPROX	Grandeur Peak Global	Pair Corr
0.67	GAAKX	Gmo Alternative Allo	Pair Corr
0.66	GAAGX	Gmo Alternative Allo	Pair Corr
0.73	GPBFX	Gmo E Plus	Pair Corr
0.69	GPMFX	Guidepath Managed Futures	Pair Corr
0.72	WARCX	Wells Fargo Advantage	Pair Corr

Moving against Grandeur Mutual Fund

0.63	FFRHX	Fidelity Advisor Floating	Pair Corr
0.37	FNCMX	Fidelity Nasdaq Posite	Pair Corr
0.32	ATAGX	Anchor Risk Managed	Pair Corr

Related Correlations Analysis

	GUSYX	GGSYX	GPEIX	GPEOX	GPGOX	GPIIX	GPIOX	GPMCX	GPRIX
GUSYX		0.26	0.03	0.02	-0.24	-0.43	-0.43	-0.24	0.3	GUSYX
GGSYX	0.26		0.71	0.71	0.82	0.7	0.7	0.7	0.96	GGSYX
GPEIX	0.03	0.71		1.0	0.61	0.67	0.67	0.38	0.73	GPEIX
GPEOX	0.02	0.71	1.0		0.61	0.67	0.67	0.38	0.72	GPEOX
GPGOX	-0.24	0.82	0.61	0.61		0.96	0.96	0.94	0.8	GPGOX
GPIIX	-0.43	0.7	0.67	0.67	0.96		1.0	0.87	0.68	GPIIX
GPIOX	-0.43	0.7	0.67	0.67	0.96	1.0		0.87	0.68	GPIOX
GPMCX	-0.24	0.7	0.38	0.38	0.94	0.87	0.87		0.7	GPMCX
GPRIX	0.3	0.96	0.73	0.72	0.8	0.68	0.68	0.7		GPRIX
	GUSYX	GGSYX	GPEIX	GPEOX	GPGOX	GPIIX	GPIOX	GPMCX	GPRIX

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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

GPEOX	+ 1.0	GPEIX
GPIOX	+ 1.0	GPIIX
GPRIX	+ 0.96	GGSYX
GPIIX	+ 0.96	GPGOX
GPIOX	+ 0.96	GPGOX
GPMCX	+ 0.94	GPGOX

High negative correlations

GPIOX	- 0.43	GUSYX
GPIIX	- 0.43	GUSYX
GPMCX	- 0.24	GUSYX
GPGOX	- 0.24	GUSYX

Risk-Adjusted Indicators

There is a big difference between Grandeur Mutual Fund performing well and Grandeur Peak 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 Grandeur Peak'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
GUSYX	0.84	0.10	(0.01)	1.21	0.95	(0.96)	1.82	(1.64)	5.64
GGSYX	0.72	(0.12)	0.00	(0.02)	0.00	0.00	1.51	(1.50)	5.49
GPEIX	0.53	(0.09)	0.00	3.22	0.00	0.00	1.17	(1.17)	3.19
GPEOX	0.52	(0.09)	0.00	3.25	0.00	0.00	1.10	(1.12)	3.15
GPGOX	0.66	(0.14)	0.00	(0.08)	0.00	0.00	1.42	(1.14)	3.90
GPIIX	0.63	(0.17)	0.00	(0.23)	0.00	0.00	1.21	(1.22)	3.83
GPIOX	0.64	(0.17)	0.00	(0.22)	0.00	0.00	1.47	(1.22)	3.80
GPMCX	0.56	(0.08)	0.00	(0.05)	0.00	0.00	1.17	(1.29)	3.07
GPRIX	0.55	(0.08)	(0.16)	(0.01)	0.73	(0.56)	1.27	(1.01)	3.54

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