Guggenheim Directional Correlations

TVRCX Fund

USD 14.27 0.12 0.85%

The current 90-days correlation between Guggenheim Directional and Third Avenue Value is 0.85 (i.e., Very poor diversification). The correlation of Guggenheim Directional 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 Directional Correlation With Market

Almost no diversification

The correlation between Guggenheim Directional Allocat and DJI is 0.96 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guggenheim Directional Allocat and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Guggenheim Directional Allocation. 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 main economic indicators.

Moving together with Guggenheim Mutual Fund

1.0	TVRAX	Guggenheim Directional	Pair Corr
1.0	TVRIX	Guggenheim Directional	Pair Corr
0.63	SAOIX	Guggenheim Alpha Opp	Pair Corr
0.79	GURAX	Guggenheim Risk Managed	Pair Corr
0.8	GURCX	Guggenheim Risk Managed	Pair Corr
0.79	GURIX	Guggenheim Risk Managed	Pair Corr
0.8	GURPX	Guggenheim Risk Managed	Pair Corr
0.99	SECEX	Guggenheim Styleplus	Pair Corr
0.94	SECIX	Guggenheim Large Cap	Pair Corr
0.99	SECUX	Guggenheim Styleplus	Pair Corr
0.94	SEGIX	Guggenheim Large Cap	Pair Corr
0.83	SEQAX	Guggenheim World Equity	Pair Corr
0.84	SEQPX	Guggenheim World Equity	Pair Corr
0.99	SEUPX	Guggenheim Styleplus	Pair Corr
0.97	SEVAX	Guggenheim Mid Cap	Pair Corr
0.83	SEWIX	Guggenheim World Equity	Pair Corr
0.97	SEVPX	Guggenheim Mid Cap	Pair Corr
0.99	SFEPX	Guggenheim Styleplus	Pair Corr
0.9	GIFPX	Guggenheim Floating Rate	Pair Corr
0.88	GIFSX	Guggenheim Floating Rate	Pair Corr

Moving against Guggenheim Mutual Fund

0.74	SAOSX	Guggenheim Alpha Opp	Pair Corr
0.74	SAOAX	Guggenheim Alpha Opp	Pair Corr
0.74	SAOCX	Guggenheim Alpha Opp	Pair Corr
0.73	SVUIX	Guggenheim Mid Cap	Pair Corr
0.7	GUCPX	Gugg Actv Invmt	Pair Corr
0.7	SUFCX	Guggenheim Styleplus	Pair Corr
0.37	SDICX	Guggenheim Investment	Pair Corr
0.71	SFECX	Guggenheim Styleplus	Pair Corr
0.69	SEVSX	Guggenheim Mid Cap	Pair Corr
0.37	GIBRX	Guggenheim Total Return	Pair Corr
0.36	GIBIX	Guggenheim Total Return	Pair Corr

Related Correlations Analysis

	TVFVX	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF	RWAYL
TVFVX		0.02	0.85	0.81	0.31	0.82	0.0	0.52	-0.31	0.52	TVFVX
AQUI	0.02		0.26	0.23	-0.63	0.32	0.0	0.39	-0.58	-0.72	AQUI
MSTSX	0.85	0.26		0.91	-0.03	0.98	0.0	0.65	-0.59	0.31	MSTSX
LBHIX	0.81	0.23	0.91		0.06	0.93	0.0	0.78	-0.65	0.33	LBHIX
VIASP	0.31	-0.63	-0.03	0.06		-0.02	0.0	-0.2	0.56	0.78	VIASP
RRTLX	0.82	0.32	0.98	0.93	-0.02		0.0	0.71	-0.63	0.29	RRTLX
OSHDF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	OSHDF
70082LAB3	0.52	0.39	0.65	0.78	-0.2	0.71	0.0		-0.85	0.04	70082LAB3
SITKF	-0.31	-0.58	-0.59	-0.65	0.56	-0.63	0.0	-0.85		0.27	SITKF
RWAYL	0.52	-0.72	0.31	0.33	0.78	0.29	0.0	0.04	0.27		RWAYL
	TVFVX	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF	RWAYL

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

RRTLX	+ 0.98	MSTSX
RRTLX	+ 0.93	LBHIX
LBHIX	+ 0.91	MSTSX
MSTSX	+ 0.85	TVFVX
RRTLX	+ 0.82	TVFVX
LBHIX	+ 0.81	TVFVX

High negative correlations

SITKF	- 0.85	70082LAB3
RWAYL	- 0.72	AQUI
SITKF	- 0.65	LBHIX
SITKF	- 0.63	RRTLX
VIASP	- 0.63	AQUI
SITKF	- 0.59	MSTSX

Risk-Adjusted Indicators

There is a big difference between Guggenheim Mutual Fund performing well and Guggenheim Directional 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 Directional'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
TVFVX	1.16	0.15	0.08	0.05	2.03	(0.99)	2.05	(2.57)	10.73
AQUI	1.49	(0.76)	0.00	(10.33)	0.00	0.00	0.00	0.00	50.00
MSTSX	0.89	0.09	0.00	(0.01)	0.00	0.00	1.61	(1.54)	10.06
LBHIX	0.22	0.00	0.18	(0.08)	0.33	(0.33)	0.49	(0.48)	1.92
VIASP	0.66	0.14	0.30	1.54	0.66	(0.77)	1.81	(1.03)	4.84
RRTLX	0.45	0.04	0.14	(0.02)	0.68	(0.45)	0.76	(0.94)	4.11
OSHDF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
70082LAB3	1.32	(0.08)	0.00	0.45	0.00	0.00	2.71	(4.54)	20.47
SITKF	3.24	1.32	0.29	4.45	2.45	(5.25)	8.33	(5.13)	24.52
RWAYL	0.17	0.04	0.49	0.40	0.15	(0.20)	0.49	(0.32)	1.76

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