Defensive Market Correlations

Mutual Funds . USA . 
Fund . Defensive Market Strategies
GDMYX Fund  USD 12.23  0.13  1.05%   
The current 90-days correlation between Defensive Market Str and Growth Allocation Fund is 0.95 (i.e., Almost no diversification). The correlation of Defensive Market 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.

Defensive Market Correlation With Market

Very poor diversification

The correlation between Defensive Market Strategies and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Defensive Market Strategies 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 Defensive Market Strategies. 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 population.

Moving together with Defensive Mutual Fund

  0.97GCOZX Growth AllocationPairCorr
  1.0GDMZX Defensive Market StrPairCorr
  0.92GVEYX Value Equity InstituPairCorr
  0.92GVEZX Value Equity InvestorPairCorr
  0.94GVIYX Guidestone Value EquityPairCorr
  0.93GVIZX Guidestone Value EquityPairCorr
  0.97GEIYX Guidestone Growth EquityPairCorr
  0.97GEIZX Guidestone Growth EquityPairCorr
  0.95GEMYX Emerging Markets EquityPairCorr
  0.95GEMZX Emerging Markets EquityPairCorr
  0.99GEQYX Equity Index InstituPairCorr
  0.99GEQZX Equity Index InvestorPairCorr
  0.96GFIZX Conservative AllocationPairCorr
  0.7GFSYX Strategic AlternativesPairCorr
  0.69GFSZX Strategic AlternativesPairCorr
  0.96GGBZX Aggressive AllocationPairCorr
  0.65GGBEX Global Bond FundPairCorr
  0.88GGEYX Guidestone Fds GrowthPairCorr
  0.88GGEZX Growth Equity InvestorPairCorr
  0.97GGIZX Balanced AllocationPairCorr
  0.97GGRYX Growth AllocationPairCorr
  0.82GIEYX International EquityPairCorr
  0.81GIEZX International EquityPairCorr
  0.89GIIYX International EquityPairCorr
  0.89GIIZX Guidestone Funds IntPairCorr
  0.78GLDYX Low Duration BondPairCorr
  0.79GLDZX Low Duration BondPairCorr
  0.82GMDYX Medium Duration BondPairCorr
  0.82GMDZX Medium Duration BondPairCorr
  0.99GMFZX Mydestination 2045PairCorr
  0.99GMHYX Mydestination 2035PairCorr
  0.99GMHZX Mydestination 2035PairCorr
  0.99GMGYX Mydestination 2055PairCorr
  0.99GMGZX Mydestination 2055PairCorr
  0.98GMTYX Mydestination 2015PairCorr
  0.98GMTZX Mydestination 2015PairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Defensive Mutual Fund performing well and Defensive Market 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 Defensive Market'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
GCOZX  0.41 (0.02)(0.04) 0.02  0.61 
(0.40)
 0.83 
(0.96)
 3.30 
GDMYX  0.33 (0.01)(0.04) 0.03  0.50 
(0.30)
 0.65 
(0.57)
 2.61 
GDMZX  0.32 (0.01)(0.04) 0.03  0.50 
(0.31)
 0.65 
(0.64)
 2.69 
GVEYX  0.48 (0.03)(0.05) 0.00  0.65 
(0.49)
 0.92 
(1.12)
 3.98 
GVEZX  0.48 (0.03)(0.05) 0.00  0.66 
(0.50)
 0.97 
(1.12)
 3.93 
GVIYX  0.48 (0.02)(0.05) 0.01  0.62 
(0.51)
 1.02 
(1.01)
 3.80 
GVIZX  0.47 (0.03)(0.05) 0.01  0.62 
(0.51)
 1.02 
(1.01)
 3.80 
GEIYX  0.76  0.02  0.02  0.06  1.11 
(0.73)
 1.51 
(1.71)
 4.73 
GEIZX  0.75  0.01  0.01  0.05  1.08 
(0.73)
 1.52 
(1.71)
 4.68 
GEMYX  0.70  0.07  0.06  0.14  0.85 
(0.79)
 1.54 
(1.18)
 4.81 

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