Guidepath Conservative Correlations

GPICX Fund  USD 9.63  0.03  0.31%   
The current 90-days correlation between Guidepath Conservative and Vanguard Short Term Bond is -0.03 (i.e., Good diversification). The correlation of Guidepath Conservative 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 Conservative Correlation With Market

Good diversification

The correlation between Guidepath Conservative Income and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guidepath Conservative Income 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 Conservative Income. 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 Guidepath Mutual Fund

  0.94GPARX Guidepath Absolute ReturnPairCorr
  0.95GPIFX Guidepath Flexible IncomePairCorr
  0.88GPIGX Guidepath Growth AndPairCorr
  0.89GPMIX Guidepath Multi AssetPairCorr
  0.75VBIRX Vanguard Short TermPairCorr
  0.69VFSUX Vanguard Short TermPairCorr
  0.77VFSIX Vanguard Short TermPairCorr
  0.74VFSTX Vanguard Short TermPairCorr
  0.77VBITX Vanguard Short TermPairCorr
  0.71VBISX Vanguard Short TermPairCorr
  0.69LALDX Lord Abbett ShortPairCorr
  0.76VSCSX Vanguard Short TermPairCorr
  0.74LDLAX Lord Abbett ShortPairCorr
  0.78LDLRX Lord Abbett ShortPairCorr
  0.73HLDIX Hartford EmergingPairCorr
  0.74HLDRX Hartford EmergingPairCorr
  0.68HLDAX Hartford EmergingPairCorr
  0.74HLDCX Hartford EmergingPairCorr
  0.74HLDTX Hartford EmergingPairCorr
  0.8DFSTX Us Small CapPairCorr
  0.72ITTRX Hartford BalancedPairCorr
  0.65BMCIX Blackrock High EquityPairCorr
  0.7GDV Gabelli Dividend IncomePairCorr
  0.68FIQEX Fidelity CanadaPairCorr
  0.8VSCPX Vanguard Small CapPairCorr
  0.67FELTX Fidelity Advisor SemPairCorr
  0.87TFCAX Tax Free ConservativePairCorr
  0.67SSHVX Sound Shore FundPairCorr
  0.65SKTAX Saat E MarketPairCorr
  0.91MISTX 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 Conservative 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 Conservative'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  0.21  0.03 (0.32)(0.30) 0.45 
 0.29 
 3.29 
VFSIX  0.12  0.01 (1.18)(5.19) 0.00 
 0.29 
 0.87 
VFSTX  0.13  0.01 (1.18)(5.14) 0.00 
 0.29 
 0.87 
VBITX  0.11  0.00 (1.28)(0.11) 0.06 
 0.30 
 0.79 
VBISX  0.12  0.00 (1.36)(0.39) 0.04 
 0.30 
 0.69 
LALDX  0.10  0.00 (0.78) 0.29  0.00 
 0.26 
 0.78 
VSCSX  0.10  0.01 (1.58)(0.83) 0.00 
 0.19 
 0.52 
LDLAX  0.08  0.00 (0.80) 0.44  0.00 
 0.26 
 0.52 
LDLRX  0.09  0.01 (0.78)(3.94) 0.00 
 0.26 
 0.78