Guggenheim Floating Correlations

GIFIX Fund

USD 23.54 0.01 0.04%

The current 90-days correlation between Guggenheim Floating Rate and Guggenheim Floating Rate is 0.99 (i.e., No risk reduction). The correlation of Guggenheim Floating 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 Floating Correlation With Market

Significant diversification

The correlation between Guggenheim Floating Rate and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guggenheim Floating Rate 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 Floating Rate. 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

0.99	GIFPX	Guggenheim Floating Rate	Pair Corr
0.99	GIFAX	Guggenheim Floating Rate	Pair Corr
0.63	GIFCX	Guggenheim Floating Rate	Pair Corr

Moving against Guggenheim Mutual Fund

0.33	SAOAX	Guggenheim Alpha Opp	Pair Corr
0.31	SAOIX	Guggenheim Alpha Opp	Pair Corr
0.31	SAOCX	Guggenheim Alpha Opp	Pair Corr

Related Correlations Analysis

	GIFAX	GIFCX	GIFPX	CFRIX	EIFHX	BUFHX	MJFOX	BICSX	QUSIX	QUSOX
GIFAX		0.65	1.0	0.49	0.49	0.2	-0.14	0.15	0.12	0.09	GIFAX
GIFCX	0.65		0.66	0.14	0.11	0.05	-0.26	-0.2	0.23	0.2	GIFCX
GIFPX	1.0	0.66		0.48	0.47	0.17	-0.14	0.13	0.1	0.09	GIFPX
CFRIX	0.49	0.14	0.48		0.91	0.56	0.56	0.7	-0.1	-0.08	CFRIX
EIFHX	0.49	0.11	0.47	0.91		0.51	0.6	0.84	-0.11	-0.11	EIFHX
BUFHX	0.2	0.05	0.17	0.56	0.51		0.33	0.36	0.5	0.48	BUFHX
MJFOX	-0.14	-0.26	-0.14	0.56	0.6	0.33		0.57	-0.04	0.05	MJFOX
BICSX	0.15	-0.2	0.13	0.7	0.84	0.36	0.57		-0.39	-0.4	BICSX
QUSIX	0.12	0.23	0.1	-0.1	-0.11	0.5	-0.04	-0.39		1.0	QUSIX
QUSOX	0.09	0.2	0.09	-0.08	-0.11	0.48	0.05	-0.4	1.0		QUSOX
	GIFAX	GIFCX	GIFPX	CFRIX	EIFHX	BUFHX	MJFOX	BICSX	QUSIX	QUSOX

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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

GIFPX	+ 1.0	GIFAX
QUSOX	+ 1.0	QUSIX
EIFHX	+ 0.91	CFRIX
BICSX	+ 0.84	EIFHX
BICSX	+ 0.7	CFRIX
GIFPX	+ 0.66	GIFCX

High negative correlations

QUSOX	- 0.4	BICSX
QUSIX	- 0.39	BICSX
MJFOX	- 0.26	GIFCX
BICSX	- 0.2	GIFCX
MJFOX	- 0.14	GIFPX
MJFOX	- 0.14	GIFAX

Risk-Adjusted Indicators

There is a big difference between Guggenheim Mutual Fund performing well and Guggenheim Floating 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 Floating'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
GIFAX	0.05	(0.01)	0.00	(0.85)	0.00	0.00	0.04	(0.17)	0.85
GIFCX	0.05	(0.01)	0.00	0.52	0.00	0.00	0.04	(0.17)	0.81
GIFPX	0.05	(0.01)	0.00	(0.69)	0.00	0.00	0.04	(0.17)	0.89
CFRIX	0.06	0.00	(0.67)	0.06	0.00	(0.21)	0.11	(0.11)	0.98
EIFHX	0.05	(0.01)	(0.69)	(0.01)	0.00	(0.25)	0.12	(0.12)	0.86
BUFHX	0.11	(0.02)	(0.56)	(0.05)	0.13	(0.14)	0.19	(0.19)	0.95
MJFOX	0.92	0.05	0.03	0.15	1.19	(0.97)	1.96	(1.82)	6.78
BICSX	0.52	0.10	0.01	0.97	0.65	(0.57)	1.29	(1.39)	4.72
QUSIX	0.49	(0.06)	(0.18)	(0.02)	0.61	(0.51)	1.07	(0.87)	3.30
QUSOX	0.48	(0.06)	0.00	(0.03)	0.00	0.00	1.07	(0.92)	3.29

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