Deutsche Gnma Correlations

GCGGX Fund

USD 11.66 0.02 0.17%

The current 90-days correlation between Deutsche Gnma and Angel Oak Financial is 0.01 (i.e., Significant diversification). The correlation of Deutsche Gnma 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.

Deutsche Gnma Correlation With Market

Weak diversification

The correlation between Deutsche Gnma Fund and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Deutsche Gnma 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 Deutsche Gnma 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 price.

Moving together with Deutsche Mutual Fund

0.71	SRMAX	Deutsche Short Term	Pair Corr
0.7	SRMCX	Deutsche Short Term	Pair Corr
0.7	SRMSX	Deutsche Short Term	Pair Corr
0.61	SSLCX	Deutsche Small Cap	Pair Corr
0.67	SCEMX	Deutsche Enhanced	Pair Corr
0.63	SCMAX	Deutsche Massachusetts	Pair Corr
0.71	SCMTX	Deutsche Intermediate	Pair Corr
0.94	SCSBX	Deutsche E Plus	Pair Corr

Related Correlations Analysis

	XFINX	FNPIX	MCBXX	ICFAX	FTIXX	DVFYX
XFINX		-0.4	-0.31	-0.42	-0.19	-0.48	XFINX
FNPIX	-0.4		0.79	0.96	0.73	0.98	FNPIX
MCBXX	-0.31	0.79		0.85	0.83	0.76	MCBXX
ICFAX	-0.42	0.96	0.85		0.77	0.93	ICFAX
FTIXX	-0.19	0.73	0.83	0.77		0.71	FTIXX
DVFYX	-0.48	0.98	0.76	0.93	0.71		DVFYX
	XFINX	FNPIX	MCBXX	ICFAX	FTIXX	DVFYX

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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

DVFYX	+ 0.98	FNPIX
ICFAX	+ 0.96	FNPIX
DVFYX	+ 0.93	ICFAX
ICFAX	+ 0.85	MCBXX
FTIXX	+ 0.83	MCBXX
MCBXX	+ 0.79	FNPIX

High negative correlations

DVFYX	- 0.48	XFINX
ICFAX	- 0.42	XFINX
FNPIX	- 0.4	XFINX
MCBXX	- 0.31	XFINX
FTIXX	- 0.19	XFINX

Risk-Adjusted Indicators

There is a big difference between Deutsche Mutual Fund performing well and Deutsche Gnma 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 Deutsche Gnma'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
XFINX	0.41	(0.03)	0.00	2.26	0.00	0.00	0.77	(1.41)	4.64
FNPIX	1.09	0.05	0.07	0.16	1.19	(1.17)	2.64	(2.46)	8.00
MCBXX	0.03	0.00	0.00	1.43	0.00	0.00	0.00	0.00	1.01
ICFAX	0.79	0.05	0.04	0.18	0.85	(0.93)	2.16	(1.88)	5.58
FTIXX	0.03	0.01	0.00	(3.32)	0.00	0.00	0.00	0.00	1.01
DVFYX	0.72	0.15	0.15	0.30	0.57	(0.82)	1.80	(1.32)	5.14

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