Guggenheim Total Correlations

Mutual Funds . USA . 
Fund . Guggenheim Total Return
GIBIX Fund  USD 23.71  0.10  0.42%   
The current 90-days correlation between Guggenheim Total Return and Guggenheim Macro Opportunities is 0.8 (i.e., Very poor diversification). The correlation of Guggenheim Total 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.

Guggenheim Total Correlation With Market

Significant diversification

The correlation between Guggenheim Total Return and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guggenheim Total Return 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 Guggenheim Total Return. 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 gross domestic product.

Moving together with Guggenheim Mutual Fund

  0.76TVRCX Guggenheim DirectionalPairCorr
  0.76TVRAX Guggenheim DirectionalPairCorr
  0.76TVRIX Guggenheim DirectionalPairCorr
  0.97GUCPX Gugg Actv InvmtPairCorr
  0.86GULDX Gugg Actv InvmtPairCorr
  0.99SDICX Guggenheim InvestmentPairCorr
  0.69SVUIX Guggenheim Mid CapPairCorr
  0.72SECEX Guggenheim StyleplusPairCorr
  0.74SECIX Guggenheim Large CapPairCorr
  0.74SEGIX Guggenheim Large CapPairCorr
  0.73SEQAX Guggenheim World EquityPairCorr
  0.69SEVAX Guggenheim Mid CapPairCorr
  0.73SEWIX Guggenheim World EquityPairCorr
  0.69SEVSX Guggenheim Mid CapPairCorr
  0.72SFECX Guggenheim StyleplusPairCorr
  0.72SFGCX Guggenheim World EquityPairCorr
  1.0GIBCX Guggenheim Total ReturnPairCorr
  1.0GIBLX Guggenheim Total ReturnPairCorr
  0.99GIBRX Guggenheim Total ReturnPairCorr
  1.0GIBAX Guggenheim Total ReturnPairCorr
  0.68GIFPX Guggenheim Floating RatePairCorr
  0.73GIFSX Guggenheim Floating RatePairCorr
  0.68GIFAX Guggenheim Floating RatePairCorr
  0.67GIFCX Guggenheim Floating RatePairCorr

Moving against Guggenheim Mutual Fund

  0.49SAOSX Guggenheim Alpha OppPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Guggenheim Mutual Fund performing well and Guggenheim Total 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 Guggenheim Total'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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