Guidepath(r) Multi-asset Correlations

Mutual Funds . USA . 
Fund . Guidepath Multi Asset Income
GPMIX Fund  USD 12.39  0.14  1.14%   
The current 90-days correlation between Guidepath(r) Multi-asset and Boston Partners Small is 0.52 (i.e., Very weak diversification). The correlation of Guidepath(r) Multi-asset 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) Multi-asset Correlation With Market

Almost no diversification

The correlation between Guidepath Multi Asset 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 Multi Asset 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 Multi Asset 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 gross domestic product.

Moving together with Guidepath(r) Mutual Fund

  0.93GPARX Guidepath Absolute ReturnPairCorr
  0.93GPICX Guidepath ConservativePairCorr
  0.91GPIFX Guidepath Flexible IncomePairCorr
  0.92GPIGX Guidepath Growth AndPairCorr
  0.91GPINX Guidepath IncomePairCorr
  0.96GPMFX Guidepath Managed FuturesPairCorr
  0.95ABALX American BalancedPairCorr
  0.91BALCX American BalancedPairCorr
  0.95BALFX American BalancedPairCorr
  0.9FBONX American Funds AmericanPairCorr
  0.9FBAFX American Funds AmericanPairCorr
  0.9RLBCX American BalancedPairCorr
  0.9RLBBX American BalancedPairCorr
  0.95CLBAX American BalancedPairCorr
  0.9CLBEX American BalancedPairCorr
  0.9RLBFX American BalancedPairCorr
  0.8SMPIX Semiconductor UltrasectorPairCorr
  0.82SMPSX Semiconductor UltrasectorPairCorr
  0.9PMPIX Precious Metals UltrPairCorr
  0.9PMPSX Precious Metals UltrPairCorr
  0.92FGADX Franklin Gold PreciousPairCorr
  0.92FGPMX Franklin Gold AndPairCorr
  0.92OCMGX Ocm Mutual FundPairCorr
  0.92INIYX International InvestorsPairCorr
  0.88FKRCX Franklin Gold PreciousPairCorr
  0.92OCMAX Ocm Mutual FundPairCorr
  0.98APHWX Artisan Value IncomePairCorr
  0.81TRAIX T Rowe PricePairCorr
  0.64ADFIX Diversified BondPairCorr
  0.94MAVKX Mutual Of AmericaPairCorr
  0.92IMLLX Transamerica AssetPairCorr
  0.76RDCEX Columbia DisciplinedPairCorr
  0.79PGRKX Global Real EstatePairCorr
  0.87FFEFX Nuveen Dividend ValuePairCorr
  0.97TLVAX Timothy Large/mid-capPairCorr
  0.74TWCIX Select Fund InvestorPairCorr
  0.97VHYAX Vanguard High DividendPairCorr
  0.89VASVX Vanguard Selected ValuePairCorr
  0.85TCSGX Sdit Short DurationPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Guidepath(r) Mutual Fund performing well and Guidepath(r) Multi-asset 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) Multi-asset'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.

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