Guidepath Multi Correlations

GPMIX Fund

USD 11.94 0.04 0.34%

The correlation of Guidepath Multi 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 Multi Correlation With Market

Average diversification

The correlation between Guidepath Multi Asset Income and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guidepath Multi Asset Income 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 Multi Asset Income. 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 Guidepath Mutual Fund

0.66	GPICX	Guidepath Conservative	Pair Corr
0.91	GPIFX	Guidepath Flexible Income	Pair Corr
0.96	GPIGX	Guidepath Growth And	Pair Corr
0.71	GPINX	Guidepath Income	Pair Corr
0.69	ABALX	American Balanced	Pair Corr
0.68	BALFX	American Balanced	Pair Corr
0.69	CLBAX	American Balanced	Pair Corr
0.72	FGPMX	Franklin Gold And	Pair Corr
0.66	FIJDX	Gold Portfolio Fidelity	Pair Corr
0.93	SBHSX	Segall Bryant Hamill	Pair Corr
0.65	GGRYX	Growth Allocation	Pair Corr
0.74	TGDVX	Tcw Relative Value	Pair Corr
0.92	EADIX	Eaton Vance Tax	Pair Corr
0.85	FRLPX	Fidelity Freedom Index	Pair Corr
0.69	LABFX	Lord Abbett Multi	Pair Corr
0.67	GMGZX	Mydestination 2055	Pair Corr
0.71	EPLIX	Mainstay Epoch Equity	Pair Corr
0.87	DEBIX	Shelton Tactical Credit	Pair Corr
0.62	SBHAX	Segall Bryant Hamill	Pair Corr
0.73	HYMQX	Lord Abbett Short	Pair Corr
0.62	PJDAX	Prudential Jennison	Pair Corr

Related Correlations Analysis

	PRFHX	TFBIX	DLTNX	PCMNX	TTRBX	ABIMX
PRFHX		0.99	0.85	0.97	0.76	1.0	PRFHX
TFBIX	0.99		0.86	0.98	0.8	0.99	TFBIX
DLTNX	0.85	0.86		0.84	0.85	0.85	DLTNX
PCMNX	0.97	0.98	0.84		0.78	0.97	PCMNX
TTRBX	0.76	0.8	0.85	0.78		0.76	TTRBX
ABIMX	1.0	0.99	0.85	0.97	0.76		ABIMX
	PRFHX	TFBIX	DLTNX	PCMNX	TTRBX	ABIMX

Risk-Adjusted Indicators

There is a big difference between Guidepath Mutual Fund performing well and Guidepath Multi 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 Multi'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
PRFHX	0.10	0.00	(0.30)	0.00	0.00	(0.15)	0.27	(0.18)	0.82
TFBIX	0.08	0.01	(0.30)	(0.53)	0.00	(0.15)	0.30	(0.20)	0.70
DLTNX	0.13	0.01	(0.28)	(1.75)	0.00	(0.20)	0.34	(0.22)	0.79
PCMNX	0.06	0.01	(0.41)	1.28	0.00	(0.09)	0.16	(0.08)	0.33
TTRBX	0.10	0.00	(0.40)	(0.02)	0.05	(0.14)	0.20	(0.20)	0.60
ABIMX	0.11	0.01	(0.26)	(0.81)	0.00	(0.17)	0.31	(0.21)	0.93

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Guidepath Multi Correlations

Guidepath Multi Correlation With Market

Average diversification

Moving together with Guidepath Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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