Equity Index Correlations

Mutual Funds . USA . 
Fund . Equity Index Institutional
GEQYX Fund  USD 62.61  0.08  0.13%   
The correlation of Equity Index 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.

Equity Index Correlation With Market

Very poor diversification

The correlation between Equity Index Institutional and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Equity Index Institutional 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 Equity Index Institutional. 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 manufacturing.

Moving together with Equity Mutual Fund

  1.0GCOZX Growth AllocationPairCorr
  0.98GDMYX Defensive Market StrPairCorr
  1.0GDMZX Defensive Market StrPairCorr
  0.94GVEYX Value Equity InstituPairCorr
  0.94GVEZX Value Equity InvestorPairCorr
  0.97GVIYX Guidestone Value EquityPairCorr
  0.97GVIZX Guidestone Value EquityPairCorr
  1.0GEIYX Guidestone Growth EquityPairCorr
  1.0GEIZX Guidestone Growth EquityPairCorr
  0.99GEMYX Emerging Markets EquityPairCorr
  0.99GEMZX Emerging Markets EquityPairCorr
  1.0GEQZX Equity Index InvestorPairCorr
  0.98GFIZX Conservative AllocationPairCorr
  1.0GGBZX Aggressive AllocationPairCorr
  0.75GGBEX Global Bond FundPairCorr
  0.74GGBFX Global Bond FundPairCorr
  1.0GGEYX Guidestone Fds GrowthPairCorr
  0.99GGEZX Growth Equity InvestorPairCorr
  0.99GGIZX Balanced AllocationPairCorr
  1.0GGRYX Growth AllocationPairCorr
  0.95GIEYX International EquityPairCorr
  0.95GIEZX International EquityPairCorr
  0.96GIIYX International EquityPairCorr
  0.95GIIZX Guidestone Funds IntPairCorr
  0.87GLDYX Low Duration BondPairCorr
  0.85GLDZX Low Duration BondPairCorr
  0.72GMDYX Medium Duration BondPairCorr
  0.71GMDZX Medium Duration BondPairCorr
  1.0GMFZX Mydestination 2045PairCorr
  1.0GMHYX Mydestination 2035PairCorr
  1.0GMHZX Mydestination 2035PairCorr
  1.0GMGYX Mydestination 2055PairCorr
  1.0GMGZX Mydestination 2055PairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Equity Mutual Fund performing well and Equity Index 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 Equity Index'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.

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