Guidepath(r) Flexible Correlations

GPIFX Fund

USD 8.79 0.01 0.11%

The current 90-days correlation between Guidepath Flexible Income and Legg Mason Partners is 0.35 (i.e., Weak 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

Almost no diversification

The correlation between Guidepath Flexible Income and DJI is 0.9 (i.e., Almost no 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 census.

Moving together with Guidepath(r) Mutual Fund

0.87	GPARX	Guidepath Absolute Return	Pair Corr
0.95	GPICX	Guidepath Conservative	Pair Corr
0.9	GPIGX	Guidepath Growth And	Pair Corr
0.97	GPINX	Guidepath Income	Pair Corr
0.91	GPMFX	Guidepath Managed Futures	Pair Corr
0.93	GPMIX	Guidepath(r) Multi-asset	Pair Corr
0.91	PAALX	All Asset Fund	Pair Corr
0.91	PATRX	Pimco All Asset	Pair Corr
0.91	PAAIX	All Asset Fund	Pair Corr
0.91	PALPX	Pimco All Asset	Pair Corr
0.88	PASAX	All Asset Fund	Pair Corr
0.9	PASCX	All Asset Fund	Pair Corr
0.91	PAANX	Pimco All Asset	Pair Corr
0.9	PAUPX	Pimco All Asset	Pair Corr
0.9	PAUIX	Pimco All Asset	Pair Corr
0.78	WARRX	Wells Fargo Advantage	Pair Corr
0.61	RYMBX	Commodities Strategy	Pair Corr
0.93	BRUFX	Bruce Fund Bruce	Pair Corr
0.84	SPGSX	State Street Premier	Pair Corr
0.79	KF	Korea Closed	Pair Corr
0.75	VEMIX	Vanguard Emerging Markets	Pair Corr
0.94	FHYSX	Federated High Yield	Pair Corr
0.96	AHIFX	American High Income	Pair Corr
0.9	PODAX	Pacific Funds Portfolio	Pair Corr
0.9	UNPSX	Ultrainternational	Pair Corr
0.93	ASAMX	Strategic Allocation:	Pair Corr
0.93	CLBEX	American Balanced	Pair Corr
0.93	AAAUX	Strategic Allocation:	Pair Corr
0.83	RMTCX	Columbia Minnesota Tax	Pair Corr
0.89	CATLX	Future Scholar 529	Pair Corr
0.93	JMBRX	Jpmorgan Smartretirement*	Pair Corr
0.81	TMITX	Transamerica Mid Cap	Pair Corr
0.89	JHRGX	Retirement Living Through	Pair Corr
0.61	PBSIX	Polen Small Pany	Pair Corr
0.89	LSVEX	Lsv Value Equity	Pair Corr
0.86	ARCNX	Aqr Risk Balanced	Pair Corr
0.87	SIRZX	Sierra E Retirement	Pair Corr

Related Correlations Analysis

	ANGCX	RECIX	DBELX	TEOJX	PYEIX	QLMETX
ANGCX		0.85	0.88	0.81	0.93	-0.57	ANGCX
RECIX	0.85		0.91	0.95	0.91	-0.56	RECIX
DBELX	0.88	0.91		0.92	0.94	-0.52	DBELX
TEOJX	0.81	0.95	0.92		0.87	-0.46	TEOJX
PYEIX	0.93	0.91	0.94	0.87		-0.64	PYEIX
QLMETX	-0.57	-0.56	-0.52	-0.46	-0.64		QLMETX
	ANGCX	RECIX	DBELX	TEOJX	PYEIX	QLMETX

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

TEOJX	+ 0.95	RECIX
PYEIX	+ 0.94	DBELX
PYEIX	+ 0.93	ANGCX
TEOJX	+ 0.92	DBELX
DBELX	+ 0.91	RECIX
PYEIX	+ 0.91	RECIX

High negative correlations

QLMETX	- 0.64	PYEIX
QLMETX	- 0.57	ANGCX
QLMETX	- 0.56	RECIX
QLMETX	- 0.52	DBELX
QLMETX	- 0.46	TEOJX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ANGCX	0.08	0.01	(0.34)	(11.78)	0.00	(0.17)	0.23	(0.12)	0.59
RECIX	0.81	0.28	0.29	0.49	0.48	(0.95)	1.89	(1.33)	11.52
DBELX	0.22	0.07	0.04	(5.27)	0.08	(0.27)	0.51	(0.42)	2.02
TEOJX	0.64	0.11	0.09	0.26	0.65	(0.73)	1.59	(1.27)	4.27
PYEIX	0.13	0.03	(0.08)	0.30	0.00	(0.18)	0.28	(0.27)	1.08
QLMETX	0.66	(0.11)	0.00	(0.14)	0.00	0.00	0.93	(1.11)	12.98

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