Gateway Fund Correlations

GTENX Fund

USD 47.63 0.01 0.02%

The current 90-days correlation between Gateway Fund Class and Financial Industries Fund is -0.01 (i.e., Good diversification). The correlation of Gateway Fund 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.

Gateway Fund Correlation With Market

Almost no diversification

The correlation between Gateway Fund Class and DJI is 0.95 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gateway Fund Class 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 Gateway Fund Class. 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 board of governors.

Moving together with Gateway Mutual Fund

0.81	MGGYX	Mirova Global Green	Pair Corr
0.94	GATEX	Gateway Fund Class	Pair Corr
0.94	GTECX	Gateway Fund Class	Pair Corr
0.99	JHQCX	Jpmorgan Hedged Equity	Pair Corr
0.99	JHEQX	Jpmorgan Hedged Equity	Pair Corr
0.94	JHQAX	Jpmorgan Hedged Equity	Pair Corr
1.0	GTEYX	Gateway Fund Class	Pair Corr
0.98	JHDCX	Jpmorgan Hedged Equity	Pair Corr
0.98	JHDRX	Jpmorgan Hedged Equity	Pair Corr
0.93	JHDAX	Jpmorgan Hedged Equity	Pair Corr
0.96	SMPIX	Semiconductor Ultrasector	Pair Corr
0.94	SMPSX	Semiconductor Ultrasector	Pair Corr
0.69	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.63	MLPTX	Oppenheimer Steelpath Mlp	Pair Corr
0.92	PNDIX	Pender Real Estate	Pair Corr
0.91	IEYYX	Ivy Energy Fund	Pair Corr
1.0	VFIAX	Vanguard 500 Index	Pair Corr
1.0	VFINX	Vanguard 500 Index	Pair Corr
0.67	PRWBX	T Rowe Price	Pair Corr

Moving against Gateway Mutual Fund

0.4

PWLMX

Pimco Rae Worldwide

Pair Corr

Related Correlations Analysis

	FIDAX	RMBLX	IAAEX	GCFSX	BTO	FNPIX
FIDAX		0.94	0.97	0.97	0.94	0.93	FIDAX
RMBLX	0.94		0.91	0.9	0.94	0.88	RMBLX
IAAEX	0.97	0.91		0.96	0.88	0.87	IAAEX
GCFSX	0.97	0.9	0.96		0.93	0.92	GCFSX
BTO	0.94	0.94	0.88	0.93		0.97	BTO
FNPIX	0.93	0.88	0.87	0.92	0.97		FNPIX
	FIDAX	RMBLX	IAAEX	GCFSX	BTO	FNPIX

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Risk-Adjusted Indicators

There is a big difference between Gateway Mutual Fund performing well and Gateway Fund 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 Gateway Fund'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
FIDAX	1.07	0.11	0.02	3.57	2.05	(1.00)	1.92	(2.08)	10.83
RMBLX	1.38	0.11	0.02	3.07	2.10	(1.38)	2.63	(2.96)	11.46
IAAEX	1.02	0.06	(0.01)	(0.39)	1.53	(1.11)	1.98	(2.46)	10.59
GCFSX	0.87	0.17	0.06	1.64	1.47	(0.90)	1.94	(1.47)	6.13
BTO	1.33	0.03	0.01	0.10	2.30	(1.21)	2.34	(3.14)	12.33
FNPIX	1.56	(0.02)	0.01	0.06	2.66	(1.57)	3.00	(3.27)	15.73

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