Guidepath Absolute Correlations

GPARX Fund  USD 9.60  0.01  0.10%   
The current 90-days correlation between Guidepath Absolute Return and Vanguard Short Term Bond is -0.07 (i.e., Good diversification). The correlation of Guidepath Absolute 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.

Guidepath Absolute Correlation With Market

Very weak diversification

The correlation between Guidepath Absolute Return and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guidepath Absolute Return 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 Guidepath Absolute Return. 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 metropolitan statistical area.

Moving together with Guidepath Mutual Fund

  0.94GPICX Guidepath ConservativePairCorr
  0.98GPIFX Guidepath Flexible IncomePairCorr
  0.92GPIGX Guidepath Growth AndPairCorr
  0.94GPMIX Guidepath Multi AssetPairCorr
  0.81VBIRX Vanguard Short TermPairCorr
  0.89VFSUX Vanguard Short TermPairCorr
  0.98VFSIX Vanguard Short TermPairCorr
  0.94VFSTX Vanguard Short TermPairCorr
  0.94VBITX Vanguard Short TermPairCorr
  0.9VBISX Vanguard Short TermPairCorr
  0.9LALDX Lord Abbett ShortPairCorr
  0.99VSCSX Vanguard Short TermPairCorr
  0.93LDLAX Lord Abbett ShortPairCorr
  0.95LDLRX Lord Abbett ShortPairCorr
  0.96HLDIX Hartford EmergingPairCorr
  0.96HLDRX Hartford EmergingPairCorr
  0.94HLDAX Hartford EmergingPairCorr
  0.96HLDCX Hartford EmergingPairCorr
  0.96HLDTX Hartford EmergingPairCorr
  0.86DFSTX Us Small CapPairCorr
  0.96ITTRX Hartford BalancedPairCorr
  0.9BMCIX Blackrock High EquityPairCorr
  0.92GDV Gabelli Dividend IncomePairCorr
  0.85GCVAX Goldman Sachs LargePairCorr
  0.89FIQEX Fidelity CanadaPairCorr
  0.86VSCPX Vanguard Small CapPairCorr
  0.91FELTX Fidelity Advisor SemPairCorr
  0.87FTSDX Fidelity StrategicPairCorr
  0.86TFCAX Tax Free ConservativePairCorr
  0.89SKTAX Saat E MarketPairCorr
  0.92MISTX Bny Mellon ShortPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Guidepath Mutual Fund performing well and Guidepath Absolute 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 Guidepath Absolute'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VBIRX  0.11  0.00 (1.31) 0.13  0.05 
 0.20 
 0.78 
VFSUX  0.20 (0.01)(0.31) 0.16  0.43 
 0.29 
 3.29 
VFSIX  0.13  0.02 (1.14) 1.90  0.00 
 0.29 
 0.87 
VFSTX  0.13  0.02 (1.17) 1.21  0.00 
 0.29 
 0.87 
VBITX  0.11  0.00 (1.28) 0.00  0.00 
 0.30 
 0.79 
VBISX  0.12  0.00 (1.35) 0.51  0.00 
 0.30 
 0.69 
LALDX  0.10  0.02 (0.77)(2.43) 0.00 
 0.26 
 0.78 
VSCSX  0.10  0.02 (1.52) 1.29  0.00 
 0.23 
 0.52 
LDLAX  0.09  0.01 (0.78) 1.14  0.00 
 0.26 
 0.52 
LDLRX  0.09  0.02 (0.76)(3.16) 0.00 
 0.26 
 0.78