Guidepath(r) Multi-asset Correlations

Mutual Funds . USA . 
Fund . Guidepath Multi Asset Income
GPMIX Fund  USD 12.53  0.03  0.24%   
The current 90-days correlation between Guidepath(r) Multi-asset and Guidepath Managed Futures is 0.68 (i.e., Poor 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

Very poor diversification

The correlation between Guidepath Multi Asset Income and DJI is 0.83 (i.e., Very poor 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

  0.88GPARX Guidepath Absolute ReturnPairCorr
  0.96GPICX Guidepath ConservativePairCorr
  0.96GPIFX Guidepath Flexible IncomePairCorr
  0.99GPIGX Guidepath Growth AndPairCorr
  0.94GPINX Guidepath IncomePairCorr
  0.95GPMFX Guidepath Managed FuturesPairCorr
  0.93ABALX American BalancedPairCorr
  0.93BALCX American BalancedPairCorr
  0.93BALFX American BalancedPairCorr
  0.84FBONX American Funds AmericanPairCorr
  0.84FBAFX American Funds AmericanPairCorr
  0.93RLBCX American BalancedPairCorr
  0.93RLBBX American BalancedPairCorr
  0.93CLBAX American BalancedPairCorr
  0.93CLBEX American BalancedPairCorr
  0.93RLBFX American BalancedPairCorr
  0.91EKWAX Wells Fargo Advantage Steady GrowthPairCorr
  0.9UJPIX Ultrajapan Profund Steady GrowthPairCorr
  0.9FKRCX Franklin Gold Precious Steady GrowthPairCorr
  0.91OPGSX Oppenheimer Gold Spec Steady GrowthPairCorr
  0.98KF Korea ClosedPairCorr
  0.92FSAGX Gold Portfolio Gold Steady GrowthPairCorr
  0.92PSPFX Global Resources Steady GrowthPairCorr
  0.92GOLDX Gabelli Gold Steady GrowthPairCorr
  0.9UNWPX World Precious MineralsPairCorr
  0.91SGGDX First Eagle Gold Steady GrowthPairCorr
  0.99WAIVX Wasatch InternationalPairCorr
  0.95FRBWX Fidelity Freedom IndexPairCorr
  0.95RECRX Rbc Emerging MarketsPairCorr
  0.97PIIIX Diversified InternationalPairCorr
  0.99UNPSX UltrainternationalPairCorr
  0.96JNEAX Jpmorgan Smartretirement*PairCorr
  0.96SMSAX Simt Multi StrategyPairCorr
  0.97FGINX First Investors GrowthPairCorr
  0.85GSGAX Goldman Sachs InvestmentPairCorr
  0.98MPIEX Mondrian InternationalPairCorr
  0.93HMSFX Hennessy Bp MidstreamPairCorr
  0.86IEGIX Invesco InternationalPairCorr

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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