Guidepath Income Correlations

GPINX Fund

USD 8.68 0.03 0.35%

The correlation of Guidepath Income 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 Income Correlation With Market

Very poor diversification

The correlation between Guidepath Income and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guidepath 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 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 state.

Moving together with Guidepath Mutual Fund

0.84	GPARX	Guidepath Absolute Return	Pair Corr
0.91	GPICX	Guidepath Conservative	Pair Corr
0.97	GPIFX	Guidepath Flexible Income	Pair Corr
0.86	GPIGX	Guidepath Growth And	Pair Corr
0.88	GPMFX	Guidepath Managed Futures	Pair Corr
0.9	GPMIX	Guidepath(r) Multi-asset	Pair Corr
0.92	DODIX	Dodge Income	Pair Corr
0.92	DOXIX	Dodge Cox Income	Pair Corr
0.73	FIWGX	Strategic Advisers	Pair Corr
0.9	PTTPX	Pimco Total Return	Pair Corr
0.86	PTRRX	Total Return	Pair Corr
0.9	PTRAX	Total Return	Pair Corr
0.9	PTTRX	Total Return	Pair Corr
0.83	PDBSX	Prudential Total Return	Pair Corr
0.76	SMPIX	Semiconductor Ultrasector	Pair Corr
0.79	SMPSX	Semiconductor Ultrasector	Pair Corr
0.87	RSNRX	Victory Global Natural	Pair Corr
0.89	RSNYX	Victory Global Natural	Pair Corr
0.89	RGNCX	Victory Global Natural	Pair Corr
0.78	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.78	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.77	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.77	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.87	PMPIX	Precious Metals Ultr	Pair Corr
0.8	FKGRX	Franklin Growth	Pair Corr
0.75	TEMUX	Emerging Markets Equity	Pair Corr
0.81	MHESX	Mh Elite Select	Pair Corr
0.92	BBALX	Northern Global Tactical	Pair Corr
0.76	RDWFX	American Funds Developing	Pair Corr
0.85	ESMYX	Invesco European Small	Pair Corr
0.9	FATTX	American Funds 2045	Pair Corr
0.93	SWYLX	Schwab Target 2020	Pair Corr
0.76	GWLIX	Aberdeen Gbl Eq	Pair Corr
0.94	ONCIX	Oppenheimer Cnsrvtv	Pair Corr
0.9	BZOIX	Collegeadvantage 529	Pair Corr
0.8	LMIAX	Columbia Amt Free	Pair Corr

Related Correlations Analysis

	GPARX	GPICX	GPIFX	GPIGX	GPINX	GPMIX	MNDVUX	NWWAX	SMGASX
GPARX		0.88	0.87	0.9	0.84	0.95	0.82	0.0	0.0	GPARX
GPICX	0.88		0.95	0.92	0.91	0.94	0.91	0.0	0.0	GPICX
GPIFX	0.87	0.95		0.9	0.97	0.93	0.9	0.0	0.0	GPIFX
GPIGX	0.9	0.92	0.9		0.86	0.92	0.89	0.0	0.0	GPIGX
GPINX	0.84	0.91	0.97	0.86		0.9	0.87	0.0	0.0	GPINX
GPMIX	0.95	0.94	0.93	0.92	0.9		0.85	0.0	0.0	GPMIX
MNDVUX	0.82	0.91	0.9	0.89	0.87	0.85		0.0	0.0	MNDVUX
NWWAX	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	NWWAX
SMGASX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		SMGASX
	GPARX	GPICX	GPIFX	GPIGX	GPINX	GPMIX	MNDVUX	NWWAX	SMGASX

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

GPINX	+ 0.97	GPIFX
GPMIX	+ 0.95	GPARX
GPIFX	+ 0.95	GPICX
GPMIX	+ 0.94	GPICX
GPMIX	+ 0.93	GPIFX
GPIGX	+ 0.92	GPICX

High negative correlations

SMGASX	- 0.0	NWWAX
SMGASX	- 0.0	MNDVUX
NWWAX	- 0.0	MNDVUX
SMGASX	- 0.0	GPMIX
NWWAX	- 0.0	GPMIX
SMGASX	- 0.0	GPINX

Risk-Adjusted Indicators

There is a big difference between Guidepath Mutual Fund performing well and Guidepath Income 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 Income'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
GPARX	0.42	0.04	0.00	0.22	0.62	(0.46)	0.89	(0.95)	4.00
GPICX	0.02	0.00	0.00	0.10	0.00	0.00	0.10	0.00	0.10
GPIFX	0.08	0.00	(0.32)	0.07	0.00	(0.15)	0.23	(0.11)	0.46
GPIGX	0.70	0.30	0.46	0.50	0.00	(0.98)	1.13	(0.95)	15.43
GPINX	0.12	0.00	(0.30)	0.02	0.05	(0.18)	0.35	(0.23)	0.70
GPMIX	0.29	0.06	0.09	0.22	0.00	(0.35)	0.77	(0.51)	1.62
MNDVUX	0.53	0.11	0.07	(0.53)	0.47	(0.67)	1.38	(0.87)	4.98
NWWAX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SMGASX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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