Grandeur Peak Correlations

GPROX Fund

USD 16.52 0.02 0.12%

The current 90-days correlation between Grandeur Peak Global and Firsthand Alternative Energy is 0.69 (i.e., Poor diversification). The correlation of Grandeur Peak 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.

Grandeur Peak Correlation With Market

Poor diversification

The correlation between Grandeur Peak Global and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Grandeur Peak Global 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 Grandeur Peak Global. 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 persons.

Moving together with Grandeur Mutual Fund

0.97	GGSOX	Grandeur Peak Global	Pair Corr
0.97	GGSYX	Grandeur Peak Global	Pair Corr
0.71	GISOX	Grandeur Peak Intern	Pair Corr
0.71	GISYX	Grandeur Peak Intern	Pair Corr
0.76	GPEIX	Grandeur Peak Emerging	Pair Corr
0.76	GPEOX	Grandeur Peak Emerging	Pair Corr
0.67	GPGCX	Grandeur Peak Global	Pair Corr
0.81	GPGIX	Grandeur Peak Global	Pair Corr
0.8	GPGOX	Grandeur Peak Global	Pair Corr
0.67	GPIIX	Grandeur Peak Intern	Pair Corr
0.67	GPIOX	Grandeur Peak Intern	Pair Corr
0.71	GPMCX	Grandeur Peak Global	Pair Corr
1.0	GPRIX	Grandeur Peak Global	Pair Corr
0.79	FSWFX	American Funds Smallcap	Pair Corr
0.79	FSFWX	American Funds Smallcap	Pair Corr
0.81	SCWCX	American Fds Smallcap	Pair Corr
0.8	SCWFX	Smallcap World	Pair Corr
0.72	SMCWX	Smallcap World	Pair Corr
0.8	CSPFX	Smallcap World	Pair Corr
0.8	CSPAX	Smallcap World	Pair Corr
0.8	CSPEX	Smallcap World	Pair Corr
0.8	RSLCX	Smallcap World	Pair Corr
0.72	RLLGX	Smallcap World	Pair Corr
0.62	BTMPX	Ishares Msci Eafe	Pair Corr
0.62	BTMKX	Blackrock International	Pair Corr
0.62	MDIIX	Blackrock Intern Index	Pair Corr

Moving against Grandeur Mutual Fund

0.41

FMFFX

Fs Managed Futures

Pair Corr

Related Correlations Analysis

	ALTEX	PORTX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF
ALTEX		0.74	0.3	0.0	-0.32	0.36	-0.01	0.35	0.48	ALTEX
PORTX	0.74		-0.13	0.0	-0.35	0.68	0.26	0.28	0.31	PORTX
444859BR2	0.3	-0.13		0.0	0.22	-0.53	-0.54	-0.03	0.41	444859BR2
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.32	-0.35	0.22	0.0		-0.45	-0.35	-0.4	-0.04	BRRAY
MSTSX	0.36	0.68	-0.53	0.0	-0.45		0.67	0.34	-0.02	MSTSX
LBHIX	-0.01	0.26	-0.54	0.0	-0.35	0.67		0.51	-0.29	LBHIX
ABHYX	0.35	0.28	-0.03	0.0	-0.4	0.34	0.51		-0.05	ABHYX
SCAXF	0.48	0.31	0.41	0.0	-0.04	-0.02	-0.29	-0.05		SCAXF
	ALTEX	PORTX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

PORTX	+ 0.74	ALTEX
MSTSX	+ 0.68	PORTX
LBHIX	+ 0.67	MSTSX
ABHYX	+ 0.51	LBHIX
SCAXF	+ 0.48	ALTEX
SCAXF	+ 0.41	444859BR2

High negative correlations

LBHIX	- 0.54	444859BR2
MSTSX	- 0.53	444859BR2
MSTSX	- 0.45	BRRAY
ABHYX	- 0.4	BRRAY
LBHIX	- 0.35	BRRAY
BRRAY	- 0.35	PORTX

Risk-Adjusted Indicators

There is a big difference between Grandeur Mutual Fund performing well and Grandeur Peak 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 Grandeur Peak'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
ALTEX	1.32	(0.21)	0.00	(0.08)	0.00	0.00	2.10	(2.74)	7.75
PORTX	0.48	(0.08)	0.00	(0.03)	0.00	0.00	0.93	(1.16)	2.91
444859BR2	1.35	(0.09)	0.00	(0.14)	0.00	0.00	5.93	(5.79)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.13)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	(0.04)	(0.13)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
LBHIX	0.11	0.01	(0.42)	0.38	0.00	(0.29)	0.24	(0.24)	0.96
ABHYX	0.17	0.00	(0.24)	0.19	0.25	(0.24)	0.34	(0.33)	1.91
SCAXF	0.70	(0.41)	0.00	(0.98)	0.00	0.00	0.00	0.00	23.47

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC