Guggenheim Macro Correlations

Mutual Funds USA . 
Fund . Guggenheim Macro Opportunities
GIOIX Fund  USD 24.82  0.01  0.04%   
The current 90-days correlation between Guggenheim Macro Opp and Guggenheim Total Return is 0.8 (i.e., Very poor diversification). The correlation of Guggenheim Macro 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 Macro Correlation With Market

Good diversification

The correlation between Guggenheim Macro Opportunities and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guggenheim Macro Opportunities 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 Macro Opportunities. 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

  0.97TVRCX Guggenheim DirectionalPairCorr
  0.97TVRAX Guggenheim DirectionalPairCorr
  0.97TVRIX Guggenheim DirectionalPairCorr
  0.94GUCPX Gugg Actv InvmtPairCorr
  0.99GULDX Gugg Actv InvmtPairCorr
  0.8GURAX Guggenheim Risk ManagedPairCorr
  0.79GURCX Guggenheim Risk ManagedPairCorr
  0.78GURIX Guggenheim Risk ManagedPairCorr
  0.66GURPX Guggenheim Risk ManagedPairCorr
  0.87SUFCX Guggenheim StyleplusPairCorr
  0.81SDICX Guggenheim InvestmentPairCorr
  0.94SVUIX Guggenheim Mid CapPairCorr
  0.96SECEX Guggenheim StyleplusPairCorr
  0.96SECIX Guggenheim Large CapPairCorr
  0.88SECUX Guggenheim StyleplusPairCorr
  0.96SEGIX Guggenheim Large CapPairCorr
  0.97SEQAX Guggenheim World EquityPairCorr
  0.66SEQPX Guggenheim World EquityPairCorr
  0.64SEUPX Guggenheim StyleplusPairCorr
  0.94SEVAX Guggenheim Mid CapPairCorr
  0.96SEWIX Guggenheim World EquityPairCorr
  0.94SEVSX Guggenheim Mid CapPairCorr
  0.66SEVPX Guggenheim Mid CapPairCorr
  0.96SFECX Guggenheim StyleplusPairCorr
  0.96SFGCX Guggenheim World EquityPairCorr
  0.87GIBCX Guggenheim Total ReturnPairCorr
  0.86GIBIX Guggenheim Total ReturnPairCorr
  0.85GIBLX Guggenheim Total ReturnPairCorr
  0.86GIBRX Guggenheim Total ReturnPairCorr
  0.89GIBAX Guggenheim Total ReturnPairCorr
  0.96GIFPX Guggenheim Floating RatePairCorr
  0.96GIFSX Guggenheim Floating RatePairCorr
  0.96GIFAX Guggenheim Floating RatePairCorr
  0.95GIFCX Guggenheim Floating RatePairCorr

Moving against Guggenheim Mutual Fund

  0.55SAOSX 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 Macro 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 Macro'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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