| GILIX Fund | | | USD 21.62 0.13 0.60% |
The current 90-days correlation between Guggenheim Styleplus and Invesco Disciplined Equity is 0.07 (i.e., Significant diversification). The correlation of Guggenheim Styleplus 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 Styleplus Correlation With Market
Significant diversification
The correlation between Guggenheim Styleplus and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guggenheim Styleplus 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 Styleplus . 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.