Conservative Allocation Correlations

Mutual Funds . USA . 
Fund . Conservative Allocation Fund
GCAYX Fund  USD 11.55  0.01  0.09%   
The current 90-days correlation between Conservative Allocation and Aqr Sustainable Long Short is 0.87 (i.e., Very poor diversification). The correlation of Conservative Allocation 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.

Conservative Allocation Correlation With Market

Almost no diversification

The correlation between Conservative Allocation Fund and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Conservative Allocation Fund 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 Conservative Allocation Fund. 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 manufacturing.

Moving together with Conservative Mutual Fund

  0.99GCOZX Growth AllocationPairCorr
  0.99GDMYX Defensive Market StrPairCorr
  0.99GDMZX Defensive Market StrPairCorr
  0.94GVEYX Value Equity InstituPairCorr
  0.94GVEZX Value Equity InvestorPairCorr
  0.95GVIYX Guidestone Value EquityPairCorr
  0.95GVIZX Guidestone Value EquityPairCorr
  0.98GEIYX Guidestone Growth EquityPairCorr
  0.98GEIZX Guidestone Growth EquityPairCorr
  0.99GEMYX Emerging Markets EquityPairCorr
  0.99GEMZX Emerging Markets EquityPairCorr
  0.98GEQYX Equity Index InstituPairCorr
  0.98GEQZX Equity Index InvestorPairCorr
  1.0GFIZX Conservative AllocationPairCorr
  0.67GFSYX Strategic AlternativesPairCorr
  0.64GFSZX Strategic AlternativesPairCorr
  0.99GGBZX Aggressive AllocationPairCorr
  0.89GGBEX Global Bond FundPairCorr
  0.89GGBFX Global Bond FundPairCorr
  0.98GGEYX Guidestone Fds GrowthPairCorr
  0.98GGEZX Growth Equity InvestorPairCorr
  1.0GGIZX Balanced AllocationPairCorr
  0.99GGRYX Growth AllocationPairCorr
  0.96GIEYX International EquityPairCorr
  0.96GIEZX International EquityPairCorr
  0.95GIIYX International EquityPairCorr
  0.95GIIZX Guidestone Funds IntPairCorr
  0.9GLDYX Low Duration BondPairCorr
  0.89GLDZX Low Duration BondPairCorr
  0.66GMDYX Medium Duration BondPairCorr
  0.64GMDZX Medium Duration BondPairCorr
  0.99GMFZX Mydestination 2045PairCorr
  0.98GMEYX Guidestone Funds ImpactPairCorr
  0.98GMEZX Guidestone Funds ImpactPairCorr
  0.99GMHYX Mydestination 2035PairCorr
  0.99GMHZX Mydestination 2035PairCorr
  0.99GMGYX Mydestination 2055PairCorr
  0.99GMGZX Mydestination 2055PairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Conservative Mutual Fund performing well and Conservative Allocation 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 Conservative Allocation'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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