Guggenheim Macro Correlations

Mutual Funds . USA . 
Fund . Guggenheim Macro Opportunities
GIOPX Fund  USD 24.84  0.02  0.08%   
The current 90-days correlation between Guggenheim Macro Opp and Guggenheim Total Return is 0.14 (i.e., Average 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

Very weak diversification

The correlation between Guggenheim Macro Opportunities and DJI is 0.42 (i.e., Very weak 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 american community survey.

Moving together with Guggenheim Mutual Fund

  0.97TVRCX Guggenheim DirectionalPairCorr
  0.97TVRAX Guggenheim DirectionalPairCorr
  0.98TVRIX Guggenheim DirectionalPairCorr
  0.93GUCPX Gugg Actv InvmtPairCorr
  0.98GULDX Gugg Actv InvmtPairCorr
  0.75GURAX Guggenheim Risk ManagedPairCorr
  0.74GURCX Guggenheim Risk ManagedPairCorr
  0.76GURIX Guggenheim Risk ManagedPairCorr
  0.61GURPX Guggenheim Risk ManagedPairCorr
  0.85SUFCX Guggenheim StyleplusPairCorr
  0.8SDICX Guggenheim InvestmentPairCorr
  0.94SVUIX Guggenheim Mid CapPairCorr
  0.96SECEX Guggenheim StyleplusPairCorr
  0.95SECIX Guggenheim Large CapPairCorr
  0.86SECUX Guggenheim StyleplusPairCorr
  0.96SEGIX Guggenheim Large CapPairCorr
  0.97SEQAX Guggenheim World EquityPairCorr
  0.93SEVAX Guggenheim Mid CapPairCorr
  0.97SEWIX Guggenheim World EquityPairCorr
  0.96SFECX Guggenheim StyleplusPairCorr
  0.85GIBCX Guggenheim Total ReturnPairCorr
  0.87GIBIX Guggenheim Total ReturnPairCorr
  0.88GIBLX Guggenheim Total ReturnPairCorr
  0.88GIBRX Guggenheim Total ReturnPairCorr
  0.87GIBAX Guggenheim Total ReturnPairCorr
  0.95GIFPX Guggenheim Floating RatePairCorr
  0.95GIFAX Guggenheim Floating RatePairCorr
  0.95GIFCX Guggenheim Floating RatePairCorr
  0.95GIFIX Guggenheim Floating RatePairCorr
  0.94GIKRX Guggenheim LimitedPairCorr

Moving against Guggenheim Mutual Fund

  0.47SAOSX 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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