Guidepath Conservative Correlations

Mutual Funds . USA . 
Fund . Guidepath Conservative Income
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
  0.83VFSUX Vanguard Short TermPairCorr
  0.95VFSIX Vanguard Short TermPairCorr
  0.93VFSTX Vanguard Short TermPairCorr
  0.92VBITX Vanguard Short TermPairCorr
  0.9VBISX Vanguard Short TermPairCorr
  0.89LALDX Lord Abbett ShortPairCorr
  0.97VSCSX Vanguard Short TermPairCorr
  0.91LDLAX Lord Abbett ShortPairCorr
  0.92LDLRX Lord Abbett ShortPairCorr
  0.94HLDIX Hartford EmergingPairCorr
  0.94HLDRX Hartford EmergingPairCorr
  0.93HLDAX Hartford EmergingPairCorr
  0.94HLDCX Hartford EmergingPairCorr
  0.94HLDTX Hartford EmergingPairCorr
  0.84VSZFX Voya Index SolutionPairCorr
  0.8DFSTX Us Small CapPairCorr
  0.84FSTRX Federated Mdt LargePairCorr
  0.91ITTRX Hartford BalancedPairCorr
  0.85BMCIX Blackrock High EquityPairCorr
  0.67BGCWX Baillie Gifford EafePairCorr
  0.88GDV Gabelli Dividend IncomePairCorr
  0.8GCVAX Goldman Sachs LargePairCorr
  0.85FIQEX Fidelity CanadaPairCorr
  0.8VSCPX Vanguard Small CapPairCorr
  0.88FELTX Fidelity Advisor SemPairCorr
  0.84FTSDX Fidelity StrategicPairCorr
  0.87TFCAX Tax Free ConservativePairCorr
  0.89SSHVX Sound Shore FundPairCorr
  0.83SKTAX Saat E MarketPairCorr
  0.91MISTX Bny Mellon ShortPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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 
(0.15)
 0.20 
(0.20)
 0.78 
VFSUX  0.20 (0.01)(0.31) 0.16  0.43 
(0.26)
 0.29 
(0.29)
 3.29 
VFSIX  0.13  0.02 (1.14) 1.90  0.00 
(0.17)
 0.29 
(0.19)
 0.87 
VFSTX  0.13  0.02 (1.17) 1.21  0.00 
(0.17)
 0.29 
(0.19)
 0.87 
VBITX  0.11  0.00 (1.28) 0.00  0.00 
(0.16)
 0.30 
(0.20)
 0.79 
VBISX  0.12  0.00 (1.35) 0.51  0.00 
(0.16)
 0.30 
(0.20)
 0.69 
LALDX  0.10  0.02 (0.77)(2.43) 0.00 
(0.30)
 0.26 
(0.26)
 0.78 
VSCSX  0.10  0.02 (1.52) 1.29  0.00 
(0.13)
 0.23 
(0.19)
 0.52 
LDLAX  0.09  0.01 (0.78) 1.14  0.00 
(0.26)
 0.26 
(0.26)
 0.52 
LDLRX  0.09  0.02 (0.76)(3.16) 0.00 
(0.31)
 0.26 
(0.26)
 0.78 

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