Guidepath(r) Flexible Correlations

Mutual Funds . USA . 
Fund . Guidepath Flexible Income
GPIFX Fund  USD 8.70  0.01  0.12%   
The current 90-days correlation between Guidepath Flexible Income and Ms Global Fixed is 0.71 (i.e., Poor diversification). The correlation of Guidepath(r) Flexible 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(r) Flexible Correlation With Market

Very weak diversification

The correlation between Guidepath Flexible Income and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guidepath Flexible 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 Flexible 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 census.

Moving together with Guidepath(r) Mutual Fund

  0.98GPARX Guidepath Absolute ReturnPairCorr
  0.95GPICX Guidepath ConservativePairCorr
  0.95GPIGX Guidepath Growth AndPairCorr
  0.75GPINX Guidepath IncomePairCorr
  0.96GPMIX Guidepath Multi AssetPairCorr
  0.97PAALX All Asset FundPairCorr
  0.97PATRX Pimco All AssetPairCorr
  0.97PAAIX All Asset FundPairCorr
  0.97PALPX Pimco All AssetPairCorr
  0.9PASAX All Asset FundPairCorr
  0.97PASCX All Asset FundPairCorr
  0.97PAANX Pimco All AssetPairCorr
  0.97PAUPX Pimco All AssetPairCorr
  0.97PAUIX Pimco All AssetPairCorr
  0.95SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.95SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.94TTEEX T Rowe PricePairCorr
  0.94TREMX T Rowe PricePairCorr
  0.96FIKGX Fidelity Advisor SemPairCorr
  0.96ONERX One Rock Fund Steady GrowthPairCorr
  0.96FELCX Fidelity Advisor SemPairCorr
  0.96FELIX Fidelity Advisor SemPairCorr
  0.96FSELX Fidelity Select SemiPairCorr
  0.93RMQAX Monthly RebalancePairCorr
  0.96THIFX Thornburg Limited TermPairCorr
  0.83AIIYX Invesco InternationalPairCorr
  0.89GGFPX Goldman Sachs InternPairCorr
  0.7MTBIX Mainstay Tax FreePairCorr
  0.87NML Neuberger Berman MlpPairCorr
  0.92VVONX Invesco Value OpportPairCorr
  0.82PTY Pimco Corporate IncomePairCorr
  0.92SSGVX State Street GlobalPairCorr
  0.85PWJCX Prudential JennisonPairCorr
  0.89PDI Pimco Dynamic IncomePairCorr
  0.79ACITX Inflation Adjusted BondPairCorr
  0.92HCAIX Harbor Capital ApprePairCorr
  0.94LGLUX L Abbett GrowthPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Guidepath(r) Mutual Fund performing well and Guidepath(r) Flexible 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(r) Flexible'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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