Guidepath Managed Correlations

GPMFX Fund

USD 7.18 0.05 0.69%

The current 90-days correlation between Guidepath Managed Futures and Guidepath Absolute Return is -0.06 (i.e., Good diversification). The correlation of Guidepath Managed 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 Managed Correlation With Market

Average diversification

The correlation between Guidepath Managed Futures and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guidepath Managed Futures 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 Managed Futures. 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 Mutual Fund

0.87	AMFNX	Asg Managed Futures	Pair Corr
0.98	AMFAX	Asg Managed Futures	Pair Corr
0.87	ASFCX	Asg Managed Futures	Pair Corr
0.88	ASFYX	Asg Managed Futures	Pair Corr
0.98	ABYAX	Abbey Capital Futures	Pair Corr
0.85	ABYIX	Abbey Capital Futures	Pair Corr
0.85	ABYCX	Abbey Capital Futures	Pair Corr
0.77	AHLPX	American Beacon Ahl	Pair Corr
0.83	LFMIX	Locorr Macro Strategies	Pair Corr
0.69	VSTSX	Vanguard Total Stock	Pair Corr
0.64	VSMPX	Vanguard Total Stock	Pair Corr
0.64	VITSX	Vanguard Total Stock	Pair Corr
0.68	VFFSX	Vanguard 500 Index	Pair Corr
0.62	VFIAX	Vanguard 500 Index	Pair Corr
0.72	VTSAX	Vanguard Total Stock	Pair Corr
0.83	VTSNX	Vanguard Total Inter	Pair Corr
0.89	VTISX	Vanguard Total Inter	Pair Corr
0.83	VTPSX	Vanguard Total Inter	Pair Corr
0.62	VINIX	Vanguard Institutional	Pair Corr
0.79	FQBIX	New Hampshire Higher	Pair Corr
0.75	RIDCX	Income Fund	Pair Corr
0.62	FXAIX	Fidelity 500 Index	Pair Corr
0.81	PEVAX	Pace Smallmedium Value	Pair Corr
0.76	AMTCX	Columbia Capital All	Pair Corr
0.71	OSMYX	Oppenheimer Intl Small	Pair Corr
0.67	POEDX	Pacific Funds Portfolio	Pair Corr
0.8	OCMIX	Oppenheimer Moderate	Pair Corr
0.8	BISAX	Brandes International	Pair Corr
0.74	DGAGX	Dreyfus Appreciation	Pair Corr
0.72	FRBAX	Regional Bank	Pair Corr

Moving against Guidepath Mutual Fund

0.62	GPIGX	Guidepath Growth And	Pair Corr
0.52	GPIFX	Guidepath Flexible Income	Pair Corr

Related Correlations Analysis

	GPARX	GPICX	GPIGX	GPINX	GPMFX	GPMIX
GPARX		0.46	0.63	0.57	0.07	0.37	GPARX
GPICX	0.46		0.51	0.65	-0.17	0.58	GPICX
GPIGX	0.63	0.51		0.46	-0.62	-0.14	GPIGX
GPINX	0.57	0.65	0.46		0.02	0.58	GPINX
GPMFX	0.07	-0.17	-0.62	0.02		0.57	GPMFX
GPMIX	0.37	0.58	-0.14	0.58	0.57		GPMIX
	GPARX	GPICX	GPIGX	GPINX	GPMFX	GPMIX

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	+ 0.65	GPICX
GPIGX	+ 0.63	GPARX
GPMIX	+ 0.58	GPICX
GPMIX	+ 0.58	GPINX
GPINX	+ 0.57	GPARX
GPMIX	+ 0.57	GPMFX

High negative correlations

GPMFX	- 0.62	GPIGX
GPMFX	- 0.17	GPICX
GPMIX	- 0.14	GPIGX

Risk-Adjusted Indicators

There is a big difference between Guidepath Mutual Fund performing well and Guidepath Managed 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 Managed'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	0.32	(0.03)	(0.12)	(0.02)	0.59	(0.34)	0.71	(0.72)	4.04
GPICX	0.03	(0.01)	0.00	(0.33)	0.00	0.00	0.10	0.00	0.73
GPIGX	0.68	(0.18)	0.00	(0.18)	0.00	0.00	1.04	(1.02)	12.80
GPINX	0.14	(0.02)	(0.35)	(0.05)	0.17	(0.19)	0.35	(0.34)	1.15
GPMFX	0.71	0.02	(0.05)	0.22	0.86	(0.74)	1.30	(1.53)	3.61
GPMIX	0.32	(0.01)	(0.13)	0.07	0.33	(0.36)	0.68	(0.60)	1.95

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