Guidepath(r) Managed Correlations

GPMFX Fund

USD 7.52 0.05 0.67%

The current 90-days correlation between Guidepath Managed Futures and Barings Global Floating is -0.17 (i.e., Good diversification). The correlation of Guidepath(r) 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(r) Managed Correlation With Market

Almost no diversification

The correlation between Guidepath Managed Futures and DJI is 0.92 (i.e., Almost no 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 price.

Moving together with Guidepath(r) Mutual Fund

0.97	GPARX	Guidepath Absolute Return	Pair Corr
0.96	GPICX	Guidepath Conservative	Pair Corr
0.91	GPIFX	Guidepath Flexible Income	Pair Corr
0.94	GPIGX	Guidepath Growth And	Pair Corr
0.88	GPINX	Guidepath Income	Pair Corr
0.95	GPMIX	Guidepath(r) Multi-asset	Pair Corr
0.93	AQMRX	Aqr Managed Futures	Pair Corr
1.0	AMFNX	Asg Managed Futures	Pair Corr
1.0	AMFAX	Asg Managed Futures	Pair Corr
1.0	ASFCX	Asg Managed Futures	Pair Corr
1.0	ASFYX	Asg Managed Futures	Pair Corr
0.99	ABYAX	Abbey Capital Futures	Pair Corr
0.99	ABYIX	Abbey Capital Futures	Pair Corr
0.99	ABYCX	Abbey Capital Futures	Pair Corr
0.99	AHLPX	American Beacon Ahl	Pair Corr
0.97	LFMIX	Locorr Macro Strategies	Pair Corr
0.91	NHS	Neuberger Berman High	Pair Corr
0.96	JGERX	Jhancock Global Equity	Pair Corr
0.71	WEEIX	Teton Westwood Equity	Pair Corr
0.93	VTROX	Voya Target Retirement	Pair Corr
0.94	TEBRX	Teberg Fund	Pair Corr
0.9	SEGIX	Guggenheim Large Cap	Pair Corr
0.86	GCEAX	Ab Global E	Pair Corr
0.83	DIBAX	Dreyfus International	Pair Corr
0.93	IPMIX	Voya Index Plus	Pair Corr
0.95	CIMCX	Income Fund	Pair Corr
0.88	RNGEX	New Economy Fund	Pair Corr
0.89	VTEAX	Vanguard Tax Exempt	Pair Corr
0.8	PXCZX	Virtus Tax Exempt	Pair Corr
0.92	IOWAX	Collegeadvantage 529	Pair Corr
0.8	RGAHX	Growth Fund	Pair Corr
0.68	PFFRX	T Rowe Price	Pair Corr
0.97	TPIAX	Timothy Plan Interna	Pair Corr
0.61	AINGX	Inflation Adjusted Bond	Pair Corr
0.87	SAOCX	Guggenheim Alpha Opp	Pair Corr
0.97	RBAFX	American Funds Balanced	Pair Corr
0.93	AMFFX	American Mutual	Pair Corr

Related Correlations Analysis

	LFLCX	AWF	APDPX	ANAGX	BXFIX
LFLCX		0.44	0.98	0.78	-0.16	LFLCX
AWF	0.44		0.45	0.51	0.07	AWF
APDPX	0.98	0.45		0.77	-0.19	APDPX
ANAGX	0.78	0.51	0.77		-0.16	ANAGX
BXFIX	-0.16	0.07	-0.19	-0.16		BXFIX
	LFLCX	AWF	APDPX	ANAGX	BXFIX

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

APDPX	+ 0.98	LFLCX
ANAGX	+ 0.78	LFLCX
ANAGX	+ 0.77	APDPX
ANAGX	+ 0.51	AWF
APDPX	+ 0.45	AWF
AWF	+ 0.44	LFLCX

High negative correlations

BXFIX	- 0.19	APDPX
BXFIX	- 0.16	ANAGX
BXFIX	- 0.16	LFLCX

Risk-Adjusted Indicators

There is a big difference between Guidepath(r) Mutual Fund performing well and Guidepath(r) 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(r) 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
LFLCX	0.13	0.02	(0.20)	0.29	0.00	(0.19)	0.32	(0.22)	0.75
AWF	0.25	0.00	(0.18)	0.05	0.25	(0.29)	0.56	(0.48)	1.33
APDPX	0.10	0.07	(0.01)	(2.85)	0.00	(0.16)	0.28	(0.18)	0.82
ANAGX	0.10	0.01	(0.29)	0.23	0.00	(0.18)	0.29	(0.29)	0.58
BXFIX	0.07	(0.02)	0.00	4.38	0.00	0.00	0.12	(0.12)	0.95

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