Government Street Correlations

GVEQX Fund

USD 129.96 1.08 0.84%

The current 90-days correlation between Government Street Equity and Government Street Mid Cap is 0.22 (i.e., Modest diversification). The correlation of Government Street 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.

Government Street Correlation With Market

Weak diversification

The correlation between Government Street Equity and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Government Street Equity 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 Government Street Equity. 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 producer price index.

Moving together with Government Mutual Fund

0.72	GVMCX	Government Street Mid Potential Growth	Pair Corr
0.75	VTSAX	Vanguard Total Stock	Pair Corr
0.72	VFIAX	Vanguard 500 Index	Pair Corr
0.75	VTSMX	Vanguard Total Stock	Pair Corr
0.75	VITSX	Vanguard Total Stock	Pair Corr
0.75	VSMPX	Vanguard Total Stock	Pair Corr
0.75	VSTSX	Vanguard Total Stock	Pair Corr
0.72	VFINX	Vanguard 500 Index	Pair Corr
0.72	VFFSX	Vanguard 500 Index	Pair Corr
0.77	VINIX	Vanguard Institutional	Pair Corr
0.77	VIIIX	Vanguard Institutional	Pair Corr
0.72	KNPYX	Kinetics Paradigm	Pair Corr
0.72	LSHUX	Horizon Spin Off	Pair Corr
0.72	WWNPX	Kinetics Paradigm	Pair Corr
0.72	LSHEX	Kinetics Spin Off	Pair Corr
0.72	LSHAX	Horizon Spin Off	Pair Corr
0.72	KNPAX	Kinetics Paradigm	Pair Corr
0.73	KNPCX	Kinetics Paradigm	Pair Corr
0.72	LSHCX	Horizon Spin Off	Pair Corr
0.72	RYVYX	Nasdaq 100 2x	Pair Corr
0.76	FSDAX	Defense And Aerospace	Pair Corr
0.7	CCALX	Conestoga Small Cap	Pair Corr
0.74	KGROX	Kennedy Capital Small	Pair Corr
0.76	QCEQRX	College Retirement	Pair Corr
0.9	QUAZX	Ab Small Cap	Pair Corr
0.62	MNWUX	Mfs Managed Wealth	Pair Corr
0.75	FHAUX	Fidelity Freedom Blend	Pair Corr
0.84	SCAAX	Conservative Balanced	Pair Corr
0.81	IWGNX	Ivy Wilshire Global	Pair Corr
0.62	FAFAX	Fidelity Advisor Freedom	Pair Corr
0.81	PFESX	Pfg Br Equity	Pair Corr

Related Correlations Analysis

	GVEQX	GVMCX	ALABX	HIGJX	EXTGX	POEDX	JRODX	CLM	JUCRX	MRCVX
GVEQX		0.72	0.57	0.91	0.8	0.88	0.84	0.46	0.03	0.67	GVEQX
GVMCX	0.72		0.9	0.76	0.44	0.57	0.53	0.06	-0.53	0.66	GVMCX
ALABX	0.57	0.9		0.63	0.27	0.41	0.4	-0.05	-0.63	0.62	ALABX
HIGJX	0.91	0.76	0.63		0.85	0.94	0.91	0.47	0.0	0.83	HIGJX
EXTGX	0.8	0.44	0.27	0.85		0.97	0.96	0.61	0.37	0.79	EXTGX
POEDX	0.88	0.57	0.41	0.94	0.97		0.99	0.6	0.27	0.84	POEDX
JRODX	0.84	0.53	0.4	0.91	0.96	0.99		0.51	0.25	0.88	JRODX
CLM	0.46	0.06	-0.05	0.47	0.61	0.6	0.51		0.68	0.23	CLM
JUCRX	0.03	-0.53	-0.63	0.0	0.37	0.27	0.25	0.68		-0.06	JUCRX
MRCVX	0.67	0.66	0.62	0.83	0.79	0.84	0.88	0.23	-0.06		MRCVX
	GVEQX	GVMCX	ALABX	HIGJX	EXTGX	POEDX	JRODX	CLM	JUCRX	MRCVX

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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

JRODX	+ 0.99	POEDX
POEDX	+ 0.97	EXTGX
JRODX	+ 0.96	EXTGX
POEDX	+ 0.94	HIGJX
HIGJX	+ 0.91	GVEQX
JRODX	+ 0.91	HIGJX

High negative correlations

JUCRX	- 0.63	ALABX
JUCRX	- 0.53	GVMCX
MRCVX	- 0.06	JUCRX
CLM	- 0.05	ALABX
JUCRX	- 0.0	HIGJX

Risk-Adjusted Indicators

There is a big difference between Government Mutual Fund performing well and Government Street 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 Government Street'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
GVEQX	0.68	(0.02)	(0.07)	0.04	0.94	(0.76)	1.52	(1.58)	5.69
GVMCX	0.67	(0.06)	0.00	(0.31)	0.00	0.00	1.30	(1.58)	5.57
ALABX	0.56	(0.11)	0.00	(0.23)	0.00	0.00	0.83	(1.10)	10.02
HIGJX	0.59	0.00	(0.07)	0.08	0.78	(0.61)	1.03	(1.18)	5.30
EXTGX	0.61	0.03	(0.03)	0.19	0.83	(0.59)	1.05	(1.43)	5.22
POEDX	0.54	0.01	(0.05)	0.13	0.77	(0.57)	1.24	(1.11)	4.90
JRODX	0.52	0.00	(0.06)	0.10	0.74	(0.55)	1.17	(1.03)	4.25
CLM	0.89	0.19	0.07	0.56	1.68	(0.98)	1.81	(1.16)	9.60
JUCRX	0.06	0.01	(0.68)	(0.74)	0.00	(0.20)	0.23	(0.11)	0.56
MRCVX	0.23	(0.02)	(0.25)	(0.03)	0.31	(0.26)	0.46	(0.45)	1.82

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