Guidepath(r) Flexible Correlations

Mutual Funds . USA . 
Fund . Guidepath Flexible Income
GPIFX Fund  USD 8.87  0.01  0.11%   
The current 90-days correlation between Guidepath Flexible Income and Guidepath Multi Asset Income is -0.08 (i.e., Good diversification). The correlation of Guidepath(r) 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(r) Flexible Correlation With Market

Poor diversification

The correlation between Guidepath Flexible Income and DJI is 0.79 (i.e., Poor 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(r) Mutual Fund

  0.84GPARX Guidepath Absolute ReturnPairCorr
  0.94GPICX Guidepath ConservativePairCorr
  0.94GPIGX Guidepath Growth AndPairCorr
  0.98GPINX Guidepath IncomePairCorr
  0.91GPMFX Guidepath Managed FuturesPairCorr
  0.97PAALX All Asset FundPairCorr
  0.97PATRX Pimco All AssetPairCorr
  0.97PAAIX All Asset FundPairCorr
  0.97PALPX Pimco All AssetPairCorr
  0.97PASAX All Asset FundPairCorr
  0.97PASCX All Asset FundPairCorr
  0.97PAANX Pimco All AssetPairCorr
  0.97PAUPX Pimco All AssetPairCorr
  0.97PAUIX Pimco All AssetPairCorr
  0.93WARRX Wells Fargo AdvantagePairCorr
  0.95LSHCX Horizon Spin Off Steady GrowthPairCorr
  0.93OEPSX Oil Equipment ServicesPairCorr
  0.95LSHUX Horizon Spin Off Steady GrowthPairCorr
  0.95LSHEX Kinetics Spin Off Steady GrowthPairCorr
  0.93OEPIX Oil Equipment ServicesPairCorr
  0.9SSCKX State Street TargetPairCorr
  0.93MDPSX Mid Cap ProfundPairCorr
  0.91IMLPX Maingate MlpPairCorr
  0.95ECMDX Eaton Vance MarylandPairCorr
  0.85WCMVX Wcm Focused InternationalPairCorr
  0.77VMFXX Vanguard Federal MoneyPairCorr
  0.88CSZIX Cohen Steers RealPairCorr
  0.9AAWEX World EnergyPairCorr
  0.94TRFFX T Rowe PricePairCorr
  0.95FEREX First Eagle FundsPairCorr
  0.88OGMYX Oppenheimer Gold Special Steady GrowthPairCorr
  0.68GRETX Goldman Sachs RealPairCorr
  0.94RITGX American High IncomePairCorr
  0.96SSBYX State Street TargetPairCorr
  0.95KNPCX Kinetics ParadigmPairCorr
  0.97CBUZX Columbia Income BuilderPairCorr

Moving against Guidepath(r) Mutual Fund

  0.75CISGX Touchstone Sands CapitalPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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