Guggenheim Floating Correlations

Mutual Funds . USA . 
Fund . Guggenheim Floating Rate
GIFIX Fund  USD 23.93  0.03  0.13%   
The current 90-days correlation between Guggenheim Floating Rate and Abs Insights Emerging is -0.15 (i.e., Good diversification). The correlation of Guggenheim Floating 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 Floating Correlation With Market

Average diversification

The correlation between Guggenheim Floating Rate 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 Guggenheim Floating Rate 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 Guggenheim Floating Rate. 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 Guggenheim Mutual Fund

  0.97TVRCX Guggenheim DirectionalPairCorr
  0.97TVRAX Guggenheim DirectionalPairCorr
  0.96TVRIX Guggenheim DirectionalPairCorr
  0.96GULDX Gugg Actv InvmtPairCorr
  0.84GURAX Guggenheim Risk ManagedPairCorr
  0.83GURCX Guggenheim Risk ManagedPairCorr
  0.84GURIX Guggenheim Risk ManagedPairCorr
  0.64SDICX Guggenheim InvestmentPairCorr
  0.98SECEX Guggenheim StyleplusPairCorr
  0.95SECIX Guggenheim Large CapPairCorr
  0.95SECUX Guggenheim StyleplusPairCorr
  0.96SEQAX Guggenheim World EquityPairCorr
  0.66SEUPX Guggenheim StyleplusPairCorr
  0.96SEVAX Guggenheim Mid CapPairCorr
  0.96SEWIX Guggenheim World EquityPairCorr
  0.96SEVSX Guggenheim Mid CapPairCorr
  0.68SEVPX Guggenheim Mid CapPairCorr
  0.97SFECX Guggenheim StyleplusPairCorr
  0.64SFEPX Guggenheim StyleplusPairCorr
  0.72GIBCX Guggenheim Total ReturnPairCorr
  0.75GIBIX Guggenheim Total ReturnPairCorr
  0.72GIBLX Guggenheim Total ReturnPairCorr
  0.72GIBRX Guggenheim Total ReturnPairCorr
  0.75GIBAX Guggenheim Total ReturnPairCorr
  1.0GIFPX Guggenheim Floating RatePairCorr
  1.0GIFSX Guggenheim Floating RatePairCorr
  1.0GIFAX Guggenheim Floating RatePairCorr
  1.0GIFCX Guggenheim Floating RatePairCorr
  0.65GIJAX Guggenheim MunicipalPairCorr
  0.61GIJIX Guggenheim MunicipalPairCorr
  0.95GILCX Guggenheim Large CapPairCorr
  0.87GILDX Guggenheim LimitedPairCorr

Moving against Guggenheim Mutual Fund

  0.55SAOSX Guggenheim Alpha OppPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Guggenheim Mutual Fund performing well and Guggenheim Floating 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 Floating'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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