Grandeur Peak Correlations

GPIIX Fund

USD 3.21 0.02 0.63%

The current 90-days correlation between Grandeur Peak Intern and Grandeur Peak Stalwarts is 0.09 (i.e., Significant 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

Very weak diversification

The correlation between Grandeur Peak International and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Grandeur Peak International 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 International. 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 gross domestic product.

Moving together with Grandeur Mutual Fund

0.71	GGSOX	Grandeur Peak Global	Pair Corr
0.7	GGSYX	Grandeur Peak Global	Pair Corr
0.98	GISOX	Grandeur Peak Intern	Pair Corr
0.98	GISYX	Grandeur Peak Intern	Pair Corr
0.67	GPEIX	Grandeur Peak Emerging	Pair Corr
0.67	GPEOX	Grandeur Peak Emerging	Pair Corr
0.95	GPGIX	Grandeur Peak Global	Pair Corr
0.96	GPGOX	Grandeur Peak Global	Pair Corr
1.0	GPIOX	Grandeur Peak Intern	Pair Corr
0.87	GPMCX	Grandeur Peak Global	Pair Corr
0.68	GPRIX	Grandeur Peak Global	Pair Corr
0.69	GPROX	Grandeur Peak Global	Pair Corr
0.97	OSMYX	Oppenheimer Intl Small	Pair Corr
0.97	OSCIX	Oppenheimer Intl Small	Pair Corr
0.97	OSMNX	Oppenheimer Intl Small	Pair Corr
0.83	TIDDX	T Rowe Price	Pair Corr
0.93	MIDGX	Mfs International New	Pair Corr
0.92	MIDHX	Mfs International New	Pair Corr
0.96	MIDRX	Mfs International New	Pair Corr

Moving against Grandeur Mutual Fund

0.43	GUSYX	Grandeur Peak Stalwarts	Pair Corr
0.78	KMKAX	Kinetics Market Oppo Steady Growth	Pair Corr
0.78	KNPAX	Kinetics Paradigm Steady Growth	Pair Corr
0.78	KMKCX	Kinetics Market Oppo Steady Growth	Pair Corr
0.77	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.77	LSHCX	Horizon Spin Off Steady Growth	Pair Corr
0.77	KNPYX	Kinetics Paradigm Steady Growth	Pair Corr
0.77	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.77	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.54	VMGRX	Vanguard Mid Cap	Pair Corr
0.5	FAGIX	Fidelity Capital Income	Pair Corr
0.48	FSAHX	Fidelity Short Duration	Pair Corr
0.45	LETRX	Voya Russia Fund	Pair Corr
0.44	HFMIX	Hartford Midcap	Pair Corr
0.4	FFIDX	Fidelity Fund Fidelity	Pair Corr
0.39	VBIAX	Vanguard Balanced Index	Pair Corr
0.35	SMPSX	Semiconductor Ultrasector	Pair Corr

Related Correlations Analysis

	GUSYX	GGSOX	GGSYX	GPEIX	GPEOX	GPGCX	GPGIX	GPGOX
GUSYX		0.25	0.26	0.03	0.02	0.84	-0.22	-0.24	GUSYX
GGSOX	0.25		1.0	0.71	0.71	0.52	0.83	0.82	GGSOX
GGSYX	0.26	1.0		0.71	0.71	0.53	0.83	0.82	GGSYX
GPEIX	0.03	0.71	0.71		1.0	0.42	0.61	0.61	GPEIX
GPEOX	0.02	0.71	0.71	1.0		0.42	0.61	0.61	GPEOX
GPGCX	0.84	0.52	0.53	0.42	0.42		0.13	0.11	GPGCX
GPGIX	-0.22	0.83	0.83	0.61	0.61	0.13		1.0	GPGIX
GPGOX	-0.24	0.82	0.82	0.61	0.61	0.11	1.0		GPGOX
	GUSYX	GGSOX	GGSYX	GPEIX	GPEOX	GPGCX	GPGIX	GPGOX

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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

GGSYX	+ 1.0	GGSOX
GPEOX	+ 1.0	GPEIX
GPGOX	+ 1.0	GPGIX
GPGCX	+ 0.84	GUSYX
GPGIX	+ 0.83	GGSOX
GPGIX	+ 0.83	GGSYX

High negative correlations

GPGOX	- 0.24	GUSYX
GPGIX	- 0.22	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
GGSOX	0.73	(0.13)	0.00	(0.02)	0.00	0.00	1.47	(1.52)	5.51
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
GPGCX	0.60	0.04	(0.10)	(2.82)	0.73	(0.63)	1.28	(1.11)	3.72
GPGIX	0.68	(0.13)	0.00	(0.07)	0.00	0.00	1.64	(1.37)	4.07
GPGOX	0.66	(0.14)	0.00	(0.08)	0.00	0.00	1.42	(1.14)	3.90

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