Guidepath Growth Correlations

GPIGX Fund  USD 13.50  0.02  0.15%   
The current 90-days correlation between Guidepath Growth And and Guidepath Managed Futures is 0.06 (i.e., Significant diversification). The correlation of Guidepath Growth 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 Growth Correlation With Market

Almost no diversification

The correlation between Guidepath Growth And and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guidepath Growth And 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 Growth And. 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 price.

Moving together with Guidepath Mutual Fund

  0.92GPARX Guidepath Absolute ReturnPairCorr
  0.88GPICX Guidepath ConservativePairCorr
  0.96GPIFX Guidepath Flexible IncomePairCorr
  1.0GPMIX Guidepath Multi AssetPairCorr
  1.0VVIAX Vanguard Value IndexPairCorr
  0.99DOXGX Dodge Cox StockPairCorr
  0.97AFMFX American MutualPairCorr
  0.99FFMMX American Funds AmericanPairCorr
  0.99FFFMX American Funds AmericanPairCorr
  0.96AMRMX American MutualPairCorr
  0.97AMFFX American MutualPairCorr
  0.97AMFCX American MutualPairCorr
  0.99DODGX Dodge Stock FundPairCorr
  1.0VIVAX Vanguard Value IndexPairCorr
  0.96SMPSX Semiconductor UltrasectorPairCorr
  0.97SMPIX Semiconductor UltrasectorPairCorr
  0.96TREMX T Rowe PricePairCorr
  0.97ONERX One Rock FundPairCorr
  0.96TTEEX T Rowe PricePairCorr
  0.97FIKGX Fidelity Advisor SemPairCorr
  0.97FELIX Fidelity Advisor SemPairCorr
  0.97FSELX Fidelity Select SemiPairCorr
  0.97FELAX Fidelity Advisor SemPairCorr
  0.97FELTX Fidelity Advisor SemPairCorr
  0.97VEMRX Vanguard Emerging MarketsPairCorr
  0.97VEMIX Vanguard Emerging MarketsPairCorr
  0.96FEFAX First Eagle FundPairCorr
  0.99BMCIX Blackrock High EquityPairCorr
  0.99ITTRX Hartford BalancedPairCorr
  0.98FWWNX American Funds NewPairCorr
  0.98TLTPX Tiaa Cref LifecyclePairCorr
  0.96TRLNX T Rowe PricePairCorr
  0.94TFCAX Tax Free ConservativePairCorr
  0.62VMFXX Vanguard Federal MoneyPairCorr
  0.97PHYEX Pgim High YieldPairCorr
  0.94FIQEX Fidelity CanadaPairCorr
  0.99SSHVX Sound Shore FundPairCorr
  0.98FDMLX Fidelity Series IntrinsicPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
GPTCXGPMIX
GPIGXGPMIX
GPSTXGPMIX
GPTCXGPSTX
GPIGXGPTCX
GPTUXGPMIX
  
High negative correlations   
GPSTXGPMFX
GPTCXGPMFX
GPIGXGPMFX
GPMIXGPMFX
GPTUXGPMFX
GPIFXGPMFX

Risk-Adjusted Indicators

There is a big difference between Guidepath Mutual Fund performing well and Guidepath Growth 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 Growth'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.