Guidepath(r) Conservative Correlations

Mutual Funds . USA . 
Fund . Guidepath Servative Allocation
GPTCX Fund  USD 12.18  0.01  0.08%   
The current 90-days correlation between Guidepath(r) Conservative and Multi Manager High Yield is 0.62 (i.e., Poor diversification). The correlation of Guidepath(r) Conservative 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) Conservative Correlation With Market

Very poor diversification

The correlation between Guidepath Servative 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 Servative 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 Servative 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 unemployment.

Moving together with Guidepath(r) Mutual Fund

  0.84GMLVX Guidemark Large CapPairCorr
  0.92GMLGX Guidemark Large CapPairCorr
  0.97GMSMX Guidemark Smallmid CapPairCorr
  0.89GMWEX Guidemark World ExPairCorr
  0.92GPTUX Guidepath(r) TacticalPairCorr
  0.9VWIAX Vanguard Wellesley IncomePairCorr
  0.95VWINX Vanguard Wellesley IncomePairCorr
  0.98BKMIX Blackrock Multi AssetPairCorr
  0.91HBLTX Hartford BalancedPairCorr
  0.91HBLRX Hartford BalancedPairCorr
  0.91HBLSX Hartford BalancedPairCorr
  0.91HBLVX Hartford BalancedPairCorr
  0.9HBLFX Hartford BalancedPairCorr
  0.91HBLYX Hartford BalancedPairCorr
  0.9HBLCX Hartford BalancedPairCorr
  0.84VSTSX Vanguard Total StockPairCorr
  0.91VSMPX Vanguard Total StockPairCorr
  0.91VITSX Vanguard Total StockPairCorr
  0.81VFFSX Vanguard 500 IndexPairCorr
  0.88VFIAX Vanguard 500 IndexPairCorr
  0.84VTSAX Vanguard Total StockPairCorr
  0.96VTSNX Vanguard Total InterPairCorr
  0.92VTISX Vanguard Total InterPairCorr
  0.96VTPSX Vanguard Total InterPairCorr
  0.88VINIX Vanguard InstitutionalPairCorr
  0.9FSKAX Fidelity Total MarketPairCorr
  0.88DAGVX Dreyfus Strategic ValuePairCorr
  0.96IRCAX Voya Retirement ServativePairCorr
  0.89VGIAX Vanguard Growth AndPairCorr
  0.63RCWFX Capital World BondPairCorr
  0.83JDERX Prudential Jennison MidPairCorr
  0.98OCMIX Oppenheimer ModeratePairCorr
  0.89HSCYX Hartford SmallPairCorr
  0.87RSESX Us Strategic EquityPairCorr
  0.88EGINX Invesco European GrowthPairCorr
  0.86JRSSX Intech Managed VolatilityPairCorr
  0.87QUAZX Ab Small CapPairCorr

Moving against Guidepath(r) Mutual Fund

  0.4FABXX FabxxPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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