Gurtin California Correlations

Mutual Funds . USA . 
Fund . Gurtin California Muni
GCMVX Fund  USD 9.96  0.01  0.10%   
The current 90-days correlation between Gurtin California Muni and Morningstar Defensive Bond is 0.25 (i.e., Modest diversification). The correlation of Gurtin California 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.

Gurtin California Correlation With Market

Average diversification

The correlation between Gurtin California Muni and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gurtin California Muni 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 Gurtin California Muni. 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 real.

Moving together with Gurtin Mutual Fund

  0.99VCAIX Vanguard CaliforniaPairCorr
  0.99VCADX Vanguard CaliforniaPairCorr
  0.63MKCMX Blackrock CaliforniaPairCorr
  0.63MDCMX Brf Clf MplopPairCorr
  0.64MECMX Brf Clf MplPairCorr
  0.94BCIAX California Intermediate-terPairCorr
  0.94BCIYX California Intermediate-terPairCorr
  0.96BCITX California Intermediate-terPairCorr
  0.67RYMEX Commodities StrategyPairCorr
  0.66RYMJX Commodities StrategyPairCorr
  0.67RYMBX Commodities StrategyPairCorr
  0.88BRUFX Bruce Fund BrucePairCorr
  0.95SPGSX State Street PremierPairCorr
  0.93KF Korea ClosedPairCorr
  0.9LSIIX Loomis Sayles InvestmentPairCorr
  0.96RBOTX American Funds 2065PairCorr
  0.87BIMIX Baird Intermediate BondPairCorr
  0.85RRGAX Deutsche Global RealPairCorr
  0.7TIMPX Touchstone FundsPairCorr
  0.94DHMYX Diamond Hill SmallPairCorr
  0.97PRMDX Maryland Short TermPairCorr
  0.96JSOCX Jpmorgan Strategic IncomePairCorr
  0.94ATECX Ab Sustainable GlobalPairCorr
  0.96LFRRX Lord Abbett InvPairCorr
  0.95TEMVX Tiaa Cref EmergingPairCorr
  0.96GWOAX Gmo Global DevelopedPairCorr
  0.97CHYDX Calamos High IncomePairCorr
  0.88ANGLX Angel Oak MultiPairCorr
  0.89MIOIX Morgan Stanley InstiPairCorr
  0.95JGMRX Janus TritonPairCorr
  0.95STPAX Technology MunicationsPairCorr
  0.95MSPIX Mainstay Sp 500PairCorr
  0.93TILCX T Rowe PricePairCorr
  0.96PISHX Cohen Steers PreferredPairCorr
  0.95GCSSX Goldman Sachs SmallPairCorr
  0.95CLVRX Columbia InternationalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Gurtin Mutual Fund performing well and Gurtin California 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 Gurtin California'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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