Guidepath Managed Correlations

GPMFX Fund

USD 6.53 0.03 0.46%

The current 90-days correlation between Guidepath Managed Futures and Dws Global Macro is 0.33 (i.e., Weak diversification). The correlation of Guidepath Managed 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.

Guidepath Managed Correlation With Market

Average diversification

The correlation between Guidepath Managed Futures and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guidepath Managed Futures 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 Guidepath Managed Futures. 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 census.

Moving together with Guidepath Mutual Fund

0.7	GPIFX	Guidepath Flexible Income	Pair Corr
0.8	PQTAX	Pimco Trends Managed	Pair Corr
0.83	PQTNX	Pimco Trends Managed	Pair Corr
0.93	AHLPX	American Beacon Ahl	Pair Corr
1.0	AMFNX	Asg Managed Futures	Pair Corr
0.93	ABYAX	Abbey Capital Futures	Pair Corr
0.93	ABYIX	Abbey Capital Futures	Pair Corr
0.93	ABYCX	Abbey Capital Futures	Pair Corr
0.98	AMFAX	Asg Managed Futures	Pair Corr
0.98	ASFCX	Asg Managed Futures	Pair Corr

Moving against Guidepath Mutual Fund

0.57	MGGYX	Mirova Global Green	Pair Corr
0.6	FTIXX	Goldman Sachs Financial	Pair Corr
0.48	HLDIX	Hartford Emerging	Pair Corr
0.47	HLDRX	Hartford Emerging	Pair Corr
0.47	HLDAX	Hartford Emerging	Pair Corr
0.47	HLDCX	Hartford Emerging	Pair Corr
0.47	HLDTX	Hartford Emerging	Pair Corr
0.41	FSELX	Fidelity Select Semi Steady Growth	Pair Corr
0.39	TEFQX	Firsthand Technology	Pair Corr
0.38	CABIX	Ab Global Risk	Pair Corr
0.35	DFESX	Dfa Emerging Markets	Pair Corr
0.34	BPGSX	Rbb Fund	Pair Corr
0.32	GRMRX	Nationwide Sp 500	Pair Corr

Related Correlations Analysis

	DBIWX	RGELX	CABIX	CAEIX	ARTHX	QLMYTX	MSTGX	DODWX
DBIWX		0.94	0.98	0.96	0.94	0.91	0.94	0.92	DBIWX
RGELX	0.94		0.96	0.98	0.93	0.95	0.95	0.96	RGELX
CABIX	0.98	0.96		0.98	0.95	0.95	0.96	0.94	CABIX
CAEIX	0.96	0.98	0.98		0.96	0.95	0.94	0.96	CAEIX
ARTHX	0.94	0.93	0.95	0.96		0.92	0.9	0.95	ARTHX
QLMYTX	0.91	0.95	0.95	0.95	0.92		0.97	0.94	QLMYTX
MSTGX	0.94	0.95	0.96	0.94	0.9	0.97		0.93	MSTGX
DODWX	0.92	0.96	0.94	0.96	0.95	0.94	0.93		DODWX
	DBIWX	RGELX	CABIX	CAEIX	ARTHX	QLMYTX	MSTGX	DODWX

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Risk-Adjusted Indicators

There is a big difference between Guidepath Mutual Fund performing well and Guidepath Managed 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 Guidepath Managed'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
DBIWX	0.35	0.05	(0.03)	(0.73)	0.50	(0.38)	0.68	(0.85)	4.19
RGELX	0.93	0.12	0.03	(1.62)	1.51	(0.89)	2.02	(2.03)	10.08
CABIX	0.40	0.07	0.01	(2.25)	0.49	(0.42)	0.93	(0.89)	3.47
CAEIX	0.99	0.18	0.07	(1.47)	1.34	(1.04)	1.88	(2.00)	9.01
ARTHX	0.81	0.24	0.12	0.44	1.23	(0.85)	2.19	(1.07)	6.97
QLMYTX	0.21	0.03	(0.06)	0.79	0.27	(0.27)	0.47	(0.32)	1.27
MSTGX	0.38	0.04	(0.03)	(1.61)	0.69	(0.41)	0.84	(0.98)	3.44
DODWX	0.84	0.04	0.02	0.11	1.47	(0.82)	1.86	(1.88)	7.78

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