Guidepath(r) Growth Correlations

Mutual Funds . USA . 
Fund . Guidepath Growth Allocation
GPSTX Fund  USD 20.60  0.08  0.39%   
The current 90-days correlation between Guidepath Growth All and Blackrock Sm Cap is 0.54 (i.e., Very weak diversification). The correlation of Guidepath(r) Growth 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) Growth Correlation With Market

Very poor diversification

The correlation between Guidepath Growth Allocation 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 Growth Allocation 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 Growth Allocation. 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 poverty.

Moving together with Guidepath(r) Mutual Fund

  0.65GMCOX Guidemark E FixedPairCorr
  0.81GMLVX Guidemark Large CapPairCorr
  0.81GMLGX Guidemark Large CapPairCorr
  0.98GMSMX Guidemark Smallmid CapPairCorr
  0.98GMWEX Guidemark World ExPairCorr
  0.97GPTCX Guidepath(r) ConservativePairCorr
  0.98GPTUX Guidepath(r) TacticalPairCorr
  0.9CWGIX Capital World GrowthPairCorr
  0.94CWGFX Capital World GrowthPairCorr
  0.94CWGCX Capital World GrowthPairCorr
  0.9FCWGX American Funds CapitalPairCorr
  0.94FWCGX American Funds CapitalPairCorr
  0.9RWIFX Capital World GrowthPairCorr
  0.94CWICX Capital World GrowthPairCorr
  0.94RWIAX Capital World GrowthPairCorr
  0.94CWIAX Capital World GrowthPairCorr
  0.94WGIFX Capital World GrowthPairCorr
  0.68PMPIX Precious Metals UltrPairCorr
  0.68PMPSX Precious Metals UltrPairCorr
  0.99NWWJX Nationwide InvestorPairCorr
  0.65GFSIX Gabelli Global FinancialPairCorr
  0.93ACBYX American Beacon BalancedPairCorr
  0.78UAPIX Ultrasmall Cap ProfundPairCorr
  0.73IDIVX Integrity DividendPairCorr
  0.64TLDZX T Rowe PricePairCorr
  0.84RRTLX T Rowe PricePairCorr
  0.73DVMHX Delaware Minnesota HighPairCorr
  0.78FSLSX Fidelity Advisor ValuePairCorr
  0.93SRUAX Spectrum Fund AdviserPairCorr
  0.87JRLLX Retirement Living ThroughPairCorr
  0.79BNDIX Total Return BondPairCorr
  0.89MCONX Praxis Genesis ServativePairCorr
  0.75EELDX Eaton Vance EmergingPairCorr
  0.78EXBAX Pro-blend(r) ModeratePairCorr
  0.9VPCCX Vanguard PrimecapPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Guidepath(r) Mutual Fund performing well and Guidepath(r) Growth 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) Growth'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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