Guidepath Multi Correlations

Mutual Funds . USA . 
Fund . Guidepath Multi Asset Income
GPMIX Fund  USD 12.08  0.01  0.08%   
The current 90-days correlation between Guidepath Multi Asset and Columbia Real Estate is 0.57 (i.e., Very weak diversification). The correlation of Guidepath Multi 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 Multi Correlation With Market

Very poor diversification

The correlation between Guidepath Multi Asset Income and DJI is 0.8 (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 Mutual Fund

  0.93GPARX Guidepath Absolute ReturnPairCorr
  0.92GPICX Guidepath ConservativePairCorr
  0.95GPIFX Guidepath Flexible IncomePairCorr
  0.89GPIGX Guidepath Growth AndPairCorr
  0.87GPINX Guidepath IncomePairCorr
  0.68GPMFX Guidepath Managed FuturesPairCorr
  0.92BALCX American BalancedPairCorr
  0.67BALFX American BalancedPairCorr
  0.67ABALX American BalancedPairCorr
  0.69FBONX American Funds AmericanPairCorr
  0.69FBAFX American Funds AmericanPairCorr
  0.92RLBCX American BalancedPairCorr
  0.92RLBBX American BalancedPairCorr
  0.67CLBAX American BalancedPairCorr
  0.92CLBEX American BalancedPairCorr
  0.92RLBFX American BalancedPairCorr
  0.67FSAGX Gold Portfolio GoldPairCorr
  0.68OGMNX Oppenheimer Gold SpecPairCorr
  0.68USAGX Precious Metals AndPairCorr
  0.69SGGDX First Eagle Gold Steady GrowthPairCorr
  0.68EKWAX Wells Fargo Advantage Steady GrowthPairCorr
  0.67FKRCX Franklin Gold Precious Steady GrowthPairCorr
  0.91UNWPX World Precious MineralsPairCorr
  0.68RYZCX Precious Metals Steady GrowthPairCorr
  0.69GOLDX Gabelli GoldPairCorr
  0.86FIKTX Frost Kempner TreasuryPairCorr
  0.94AGVDX American Funds GlobalPairCorr
  0.83SNGYX Sit Government SecuritiesPairCorr
  0.72JDBAX Janus BalancedPairCorr
  0.9PPYAX Pimco Rae FundamentalPairCorr
  0.95URSIX Target Retirement 2060PairCorr
  0.93PHSAX Pimco High YieldPairCorr
  0.89MUXRX Victory Sp 500PairCorr
  0.69AMEIX Equity GrowthPairCorr
  0.84BGGIX William Blair GlobalPairCorr
  0.61FSSNX Fidelity Small CapPairCorr
  0.85AAIDX Axonic Alternative IncomePairCorr
  0.8MACEX Martin Currie EmergingPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Guidepath Mutual Fund performing well and Guidepath Multi 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 Multi'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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