Guggenheim Active Correlations

GUG Stock

USD 15.27 0.03 0.20%

The current 90-days correlation between Guggenheim Active and Thornburg Income Builder is 0.23 (i.e., Modest diversification). The correlation of Guggenheim Active 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.

Guggenheim Active Correlation With Market

Very weak diversification

The correlation between Guggenheim Active Allocation and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guggenheim Active Allocation and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Guggenheim Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Guggenheim Active Allocation. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Guggenheim Stock

0.91	GS	Goldman Sachs Group	Pair Corr
0.93	AXP	American Express	Pair Corr
0.93	COF	Capital One Financial Earnings Call Tomorrow	Pair Corr
0.77	SCM	Stellus Capital Inve	Pair Corr
0.73	GAIN	Gladstone Investment	Pair Corr
0.79	GLAD	Gladstone Capital	Pair Corr
0.74	HTGC	Hercules Capital	Pair Corr
0.73	MAIN	Main Street Capital	Pair Corr
0.84	OPFI	OppFi Inc	Pair Corr
0.83	PFLT	PennantPark Floating Rate	Pair Corr
0.9	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.88	ALLY	Ally Financial	Pair Corr
0.82	ARCC	Ares Capital Earnings Call This Week	Pair Corr
0.79	TPVG	Triplepoint Venture	Pair Corr
0.85	TSLX	Sixth Street Specialty	Pair Corr
0.81	CSWC	Capital Southwest	Pair Corr
0.89	C	Citigroup Aggressive Push	Pair Corr
0.87	L	Loews Corp Earnings Call This Week	Pair Corr
0.8	DHIL	Diamond Hill Investment	Pair Corr
0.85	AB	AllianceBernstein Earnings Call This Week	Pair Corr
0.8	AC	Associated Capital	Pair Corr
0.87	AX	Axos Financial Earnings Call This Week	Pair Corr
0.87	BK	Bank of New York	Pair Corr
0.91	BN	Brookfield Corp	Pair Corr
0.77	BX	Blackstone Group Normal Trading	Pair Corr
0.76	BY	Byline Bancorp Earnings Call This Week	Pair Corr
0.85	CG	Carlyle Group Earnings Call This Week	Pair Corr
0.89	CM	Canadian Imperial Bank	Pair Corr
0.94	DB	Deutsche Bank AG Earnings Call This Week	Pair Corr
0.77	HG	Hamilton Insurance Group,	Pair Corr
0.84	IX	Orix Corp Ads	Pair Corr

Moving against Guggenheim Stock

0.41	PSEC	Prospect Capital	Pair Corr
0.32	HRZN	Horizon Technology Earnings Call This Week	Pair Corr
0.6	FG	FG Annuities Life	Pair Corr
0.55	EG	Everest Group	Pair Corr

Related Correlations Analysis

	TBLD	WDI	GBAB	AVK	RLTY	BCAT	PAXS	DLY
TBLD		0.89	0.3	0.94	0.87	0.92	0.62	0.78	TBLD
WDI	0.89		0.1	0.94	0.87	0.96	0.47	0.94	WDI
GBAB	0.3	0.1		0.24	0.36	0.19	0.66	0.02	GBAB
AVK	0.94	0.94	0.24		0.89	0.97	0.58	0.85	AVK
RLTY	0.87	0.87	0.36	0.89		0.92	0.72	0.84	RLTY
BCAT	0.92	0.96	0.19	0.97	0.92		0.59	0.92	BCAT
PAXS	0.62	0.47	0.66	0.58	0.72	0.59		0.45	PAXS
DLY	0.78	0.94	0.02	0.85	0.84	0.92	0.45		DLY
	TBLD	WDI	GBAB	AVK	RLTY	BCAT	PAXS	DLY

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Risk-Adjusted Indicators

There is a big difference between Guggenheim Stock performing well and Guggenheim Active Company 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 Active'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
TBLD	0.67	0.14	0.05	0.51	0.98	(0.74)	1.47	(1.22)	3.80
WDI	0.38	0.12	0.05	0.65	0.00	(0.46)	0.88	(0.81)	2.36
GBAB	0.55	0.01	(0.13)	0.16	0.65	(0.58)	0.88	(1.16)	4.69
AVK	0.59	0.18	0.14	0.54	0.41	(0.73)	1.39	(1.01)	3.36
RLTY	0.71	0.06	0.01	0.22	0.71	(0.83)	1.74	(1.46)	4.00
BCAT	0.55	0.13	0.10	0.40	0.28	(0.64)	1.48	(1.07)	3.62
PAXS	0.52	0.03	(0.09)	0.21	0.60	(0.54)	1.11	(1.00)	3.60
DLY	0.35	0.04	(0.11)	0.25	0.30	(0.44)	0.96	(0.46)	2.39

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