Guidepath Flexible Correlations

Mutual Funds . USA . 
Fund . Guidepath Flexible Income
GPIFX Fund  USD 8.92  0.01  0.11%   
The current 90-days correlation between Guidepath Flexible Income and Gold And Precious is 0.11 (i.e., Average diversification). The correlation of Guidepath Flexible 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 Flexible Correlation With Market

Good diversification

The correlation between Guidepath Flexible Income and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guidepath Flexible Income 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 Flexible Income. 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 price.

Moving together with Guidepath Mutual Fund

  0.89GPICX Guidepath ConservativePairCorr
  0.72GPINX Guidepath IncomePairCorr
  0.83GPMIX Guidepath Multi AssetPairCorr
  0.88PAALX All Asset FundPairCorr
  0.88PATRX Pimco All AssetPairCorr
  0.89PAAIX All Asset FundPairCorr
  0.89PALPX Pimco All AssetPairCorr
  0.8PASAX All Asset FundPairCorr
  0.88PASCX All Asset FundPairCorr
  0.89PAANX Pimco All AssetPairCorr
  0.87PAUPX Pimco All AssetPairCorr
  0.87PAUIX Pimco All AssetPairCorr
  0.77FESOX First Eagle OverseasPairCorr
  0.77FRQHX Fidelity Managed RetPairCorr
  0.75FIRMX Fidelity Income ReplPairCorr
  0.89RPPFX American Funds PresePairCorr
  0.68VFINX Vanguard 500 IndexPairCorr
  0.77FNZFCX FnzfcxPairCorr
  0.83VWINX Vanguard Wellesley IncomePairCorr
  0.7QLMAEX Legg Mason PartnersPairCorr
  0.63GMYPX Goldman Sachs LargePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Guidepath Mutual Fund performing well and Guidepath Flexible 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 Flexible'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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